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So many traders who’ve yet to find their trading consistency, struggle to follow a trade plan that has a trading edge.
In fact it could well be that they don’t even have a trading plan.
But let me tell now – if you can find a way that will allow you to consistently follow your trade plan and stick with it, your overall results and trading success become far more attainable.
Why Bother With A Trade Plan?
If that is a question you have asked, you really don’t understand how important the trade plan is.
There are at least three really persuasive reasons as to why you should be doing this:
Trading emotions and trying to figure out the market when you are actually trading is a lot more difficult than defining what constitutes a trade and then executing when all the variables line up.
A trade plan will make it much easier to define your level of risk for a particular trade
You will always have a baseline in which to judge your trading performance and improve your trading results. When you record and learn about your trades, you can add or subtract different variables and measure the impact on the system you are trading. Figuring all that on the fly will prove to be an impossible task
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