Answer Capsule: A trading plan defines your strategy, risk rules, entry/exit criteria, and performance goals. Trading without a plan is gambling. Fill in each section honestly — the plan exists to protect you from yourself.
A trading plan defines your strategy, risk rules, entry/exit criteria, and performance goals. Trading without a plan is gambling. Fill in each section honestly — the plan exists to protect you from yourself.
A trading plan turns gambling into a business. Fill in each section. Print it. Put it on your desk. Follow it.
Be specific. "Make money" is not a goal. "Achieve 5% monthly return with max 10% drawdown over 12 months" is a goal.
Do not trade everything. Pick 3-5 instruments and master them. EURUSD, XAUUSD, and 2-3 others is plenty.
What is your specific setup? Write it so clearly that another trader could execute it.
You need BOTH a take-profit rule AND a stop-loss rule. Write them before you enter any trade.
This section is more important than your entry strategy. A great entry with bad risk management = blown account.
If you do not measure it, you cannot improve it. Track these metrics for every trade.
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Open GFIL Terminal Position Size Calculator Trading Journal