A trading plan boils down to these five essential ingredients:
- Goals – Know your endgame (extra income? long-term gains?)
- Risk Limits – Set hard numbers on losses per trade or per day
- Strategy – Pick a style (eg day trading) and stick/adapt it
- Entry/Exit Rules – Don’t just “wing it” on emotions; set clear triggers for buying and selling.
- Review Cycle – Track every trade to see what’s working (or not).
Make it simple, but keep it strict. A plan’s only as good as your commitment to it!
