Plan To Win by Richard Ahrens There are two kinds of traders: amateurs and professionals. The amateurs supply the money. Which would you rather be? It has been estimated that only 10% of traders consistently make money. It has also been estimated that only 10% of traders have a clearly defined trading plan. Coincidence? Not likely. In the same way that a good builder must plan many different aspects of his or her project before beginning construction, a good trader must consider a variety of factors before entering a trade. Failing to consider all the elements of a trade may not lead to ruin, but it certainly stacks the odds against you. It’s much better to have a complete plan in place for each trade before you put money on the table. So what factors do you need to consider when creating your trading plan? |
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