Stock Trading Business Plan

Stock Trading Business Plan-49
Similar to the times of day you will trade; keep your trading edge down to one or two setups when starting out.The more strategies you hope to master, the more difficult it will become to consistently make money in the market.The trading plan can be whatever works for you, but it needs to be written down.

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Whatever your trading style, make sure you identify the plays that have the highest odds of profitability.

For day traders, you will want to focus on the market movers.

The 2% threshold is based on the volatility of the stocks I trade and may not be suitable for your trading style.

The point here is just to make sure you have a stop loss.

I only mention the time element so you can see how long it takes me to place that number of trades based on my trading style, but you can easily perform the same math in your head.

So, what is the number of trades you will use when evaluating your trading activity?

This way you don’t have to navigate through hundreds of charts manually.

Stop losses are not a negative thing; they are what keep you in business over the long haul My stop loss is once the position goes against me by 2%.

If you find your stop is consistently being hit, then you need to take a deeper look into the volatility of the stocks you are trading.

You have heard all the market wizards say, “Let your winners run”.


Comments Stock Trading Business Plan

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