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At the moment I am reading 'The Playbook' by Mike Bellafiore. He runs a New York prop trading firm, equities mostly.
It is very interesting, as was his first book, and full of detail on trading plans, trade setups, premarket analysis and post market review. Certainly one to consider.
You do not win as a trader, you just get to play again the next day. If that game doesn’t appeal to you then you should not trade. Gary Norden
Most of trading journals starts by trader's own plan and what kind of strategy it will be trading. Many good sources in Elite sections as well as non-elite sectionsl. I would suggest check first pages of journals.
Thanks, kanepa. I’m looking more for resources that discuss the steps in building a good plan and how to develop one. I don’t need help with setups, but just want to make sure I consider everything and get it all down.
My name is John, and you may have seen my few posts recently. I am here seeking help in understanding what exactly do you need to consider in order to develop a trading system?
Everyone just says you need to come up with a trading plan / system …
The SMART model was developed by psychologists as a tool to help people set and reach their goals.
Specific
Measurable
Aligned
Realistic
Trackable
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Specific
Is your goal well defined? Will you know when you have reached it?
Do you have specific actions you have to take?
Measurable
Do you use numbers and dates to determine if you are on track?
*
Aligned:
Is achieving this goal aligned with the values that are important to you? How relevant is your goal to the overall picture?
*
Realistic
Are your goals realistic? Setting impossible goals will only end in disappointment.
Trackable:
Do you set a time limit for completion of each goal? Do you review this as you progress?
*
*
If your Plan isn’t SMART, what is it doing for you?
"The days when I keep my gratitude higher than my expectations, I have really good days" RW Hubbard
