This is the framework of your trading plan. Without thoroughly making these decisions, your plan may not be fluid.
Part 2 – Your Money Management Plan
Money management is the most important part of the plan. This is where you should understand how “risk of ruin” relates to your trading.
When calculating your risk of ruin, any number above zero is too high. That means you will eventually blow up your account in a matter of days, weeks, or months.
Part 3 –
Psychology is the journalism section. Journaling is a mental support system, gives way to ground yourself and your thoughts. It helps to place you in a mindful state to clear clutter, bring clarity and problem solve.
Part 4 – Using the best tools for trading success
Lastly, which tools will you be going to use in order to facilitate your trades?
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