Extracted from the book: Trading in a Nutshell, Stuart McPhee
If you want to trade successfully, you need to develop and then follow a written trading plan that is right for you. All consistently profitable traders have a plan they follow, as successful traders understand the importance of having a plan to guide them in their trading actions.
I believe that many people approach the market with a sense of confidence, yet with little idea of why or how they are going to trade on it successfully. There is a well-known phrase that says: 'If you fail to plan, you are planning to fail!'
Trading Plan Model - The 3Ms!!!
1. Trading Psychology for Mindset
2. Risk or Money Management for Money
3. Trading system for Methods
2. Risk or Money Management for Money
3. Trading system for Methods
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