1. Why Do You Need a Trading Plan?
“Trading without a plan is like gambling.” A plan is essential for preventing emotional trades and maintaining consistency.
2. Essential Fields
📊 Trading Plan Template
1. Goal: What is the monthly return target? For example, 5% per month.
2. Risk: What is the maximum risk per trade? For example, 2%.
3. Trading timeframe: Which timeframe will you use?
4. Entry conditions: Which signals trigger an entry?
5. Exit conditions: What are the stop-loss and take-profit rules?
6. Maximum daily trades: Prevent overtrading.
7. Prohibited actions: For example, no buying because of FOMO.
3. Execution Rules
- Never take a trade outside the plan.
- Keep a trading journal every day.
- Improve the plan through a weekly review.
4. AI Means Complete Plan Execution
AI follows the configured rules 100%. It does not break rules because of emotion.