The Trading Plan - Psychology and Money Management | futures trading

Go Back

> Futures Trading, News, Charts and Platforms > Psychology and Money Management

The Trading Plan
Started:October 12th, 2009 (06:34 AM) by TAJTrades Views / Replies:1,536 / 2
Last Reply:July 25th, 2011 (02:23 AM) Attachments:0

Welcome to

Welcome, Guest!

This forum was established to help traders (especially futures traders) by openly sharing indicators, strategies, methods, trading journals and discussing the psychology of trading.

We are fundamentally different than most other trading forums:
  • We work extremely hard to keep things positive on our forums.
  • We do not tolerate rude behavior, trolling, or vendor advertising in posts.
  • We firmly believe in openness and encourage sharing. The holy grail is within you, it is not something tangible you can download.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community. It's free and simple, and we will never resell your private information.

-- Big Mike

Thread Tools Search this Thread

The Trading Plan

Old October 12th, 2009, 06:34 AM   #1 (permalink)
Trading for Fun
Here, GA
Futures Experience: Intermediate
Platform: Ninja
Posts: 146 since Jun 2009
Thanks: 1 given, 72 received

The Trading Plan

Interesting to note that one of the more important aspects to becoming a successful trader is rarely discussed on any forum. Not sure why that is.

The Trading Plan.

Would you start a business without a business plan? Do you think that business would be successful without a business plan? Is trading not a Business? I have followed the same Trading Plan to the letter for over a year. And now I trade successfully. My trading plan is etched in memory and on the rare occasion I have deviated from the plan I have been screwed.

Here is a Google Book to get you started. Starting Out in Futures Trading - Google Books

If you want to Trade and can't put together a “Written” Trading Business Plan, you're in trouble, big trouble.

Perhaps some folks could share the template for their trading plan to help those that are trading randomly.

Just a thought for the day.


Reply With Quote
The following 4 users say Thank You to TAJTrades for this post:

Old July 24th, 2011, 04:40 PM   #2 (permalink)
Elite Member
Lake Luzerne NY USA
Futures Experience: Beginner
Platform: tos
Favorite Futures: CL,YI,ES
rcs9234's Avatar
Posts: 7 since Jul 2011
Thanks: 13 given, 1 received

Trading Plan

You hit the nail in my head!!

And I think the plan should include much more than just your trading strategy, charts and indicators. It should include an objective, how much risk and reward you seek (and all the rest of Money Management), a daily loss limit, when to take an emotional time out, when to go back to the Sim, how much time you can spend, and when etc.

I include the details of my strategies, naive though they may be. Whenever I find myself flailing about I stop, open up my plan, and try to pick myself up by the bootstraps.

I change my plan frequently, to reflect new ideas, and to correct my mistakes - which are frequent.

I'm not a successful trader yet, and may never be, but I have a chance at success the nailif I follow my plan.

Reply With Quote
The following user says Thank You to rcs9234 for this post:

Old July 25th, 2011, 02:23 AM   #3 (permalink)
Fortitudo et Honor
Austin, TX
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: Futures
Posts: 882 since Mar 2011
Thanks: 128 given, 700 received

If you expand this concept, it has benefits.

I find that most traders don't have a "risk management plan" to even address the basic principles of risk management.

How many traders:

Trade with no protective backstop maintained on the server side?
Reduce the effects of connection losses via redundant systems (internet connection, vps, backup computer, etc)?
Have a 19th century backup plan (i.e. have the trade desk on speed dial and the numbers written down and easily accessible no matter what?

This all ties into the "execution" phase of your trading.

There's alsoa "maintenance" and "tracking" portion of your trading....once you've perfected your plan, how will you monitor your performance once you're trading? What will be your cease and reassess criteria?

Just like having a plan when entering a trade is crucial, having a plan when going from simulation to live is just as important.

"A dumb man never learns. A smart man learns from his own failure and success. But a wise man learns from the failure and success of others."
Reply With Quote
The following 2 users say Thank You to RM99 for this post:

Reply > Futures Trading, News, Charts and Platforms > Psychology and Money Management > The Trading Plan

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Upcoming Webinars and Events (4:30PM ET unless noted)

Corey Rosenbloom: Tips, Tactics, and Real Trades: Trading Intraday Trend Reversals

Elite only

An Afternoon with FIO trader bobwest

Elite only

NinjaTrader 8: Programming Profitable Trading Edges w/Scott Hodson

Elite only

Anthony Drager: Executing on Intermarket Correlations & Order Flow, Part 2

Elite only

Adam Grimes: Five critically important keys to professional trading

Elite only

Machine Learning Concepts w/FIO member NJAMC

Elite only

MarketDelta Cloud Platform: Announcing new mobile features

Dec 1

NinjaTrader 8: Features and Enhancements

Dec 6

Similar Threads
Thread Thread Starter Forum Replies Last Post
Time Bandits. A Simple Trading Plan for the E mini Dow YM BroncoSlade Index Futures Trading 37 July 8th, 2011 10:09 AM
Grego's Trading Plan and Journal grego Elite Trading Journals 49 June 13th, 2011 01:25 AM
How do I write a trading plan? skyfly Traders Hideout 5 May 20th, 2011 01:13 AM
Trading Business Plan lipton80205 Traders Hideout 11 July 10th, 2010 08:31 AM
Simple Trading Plan wh Psychology and Money Management 10 September 6th, 2009 12:32 PM

All times are GMT -4. The time now is 07:37 AM.

Copyright © 2016 by All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts

Page generated 2016-10-21 in 0.08 seconds with 19 queries on phoenix via your IP