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MidKnight got a reaction from Stan1 in Become a Better Trader
Develop a plan.
As one goes on their trading development journey and they are exploring a variety of markets, timeframes, and methodolgies - you'll need to develop a plan. The plan doesn't have to be some objective extremely specific set of rules. It can be a loose set of guidelines that makes sense to you that gets refined over time with your experience. The goal is to start acting consistently so you can get consistent results.
There will probably be times that you violate the plan for whatever reason and I think that is normal, especially for more discretionary plans. But the key is to consciously violate it rather than getting lost in the throws of the market or in ones emotions. If you are consciously violating the plan you will note it in your daily review and over time you will collect enough data that may or may not indicate that the violation improves your plan.
Develop a plan today.