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. Itís 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