Alright alright, so it dont need to be more than dis then?
1. Goals
What I’m after: I’m aiming for steady extra cash each month, not a quick buck.
Keepin’ it realistic: Targeting around 2-5% monthly returns. Growth without gambling.
2. Risk Limits
Risk per Trade: I’m capping any trade loss at 2% of my account.
Max Daily Loss: I’m setting a hard stop at 4% max loss per day. this is my line.
Stop Losses: I’ll set a stop loss before every trade to protect my cash and avoid getting emotional.
3. Strategy
Style: I’m stickin’ to swing trading, so I’m holding trades for several days mostly.
How: I’ll use technicals, focusing on support/resistance and moving averages on daily and 4h charts. I’ll stick to one or two patterns I get (prly pullbacks or breakouts).
Holding Time: I’m thinking a few days to a few weeks depending on the setup.
4. Entry/Exit Rules
Entry: No more impulsive “I got a feeling” trades. I’ll only enter when the stock hits a support level and shows a strong signal, ya know like a bullish candle.
Exit: I’ll set a stop loss below entry and a profit target around the next resistance. I’m aiming for a 2:1 reward-to-risk.
I’ll only take trades that fit these entry/exit rules, no more winging it!
5. Review
Weekly Review: Every week, I’ll log each trade like why I entered, why I exited, and what happened.
Monthly Check-In: Once a month, I’ll take a step back and look at the bigger picture. What setups are paying off? What am I messin’ up? I’ll make tweaks based on data, not gut feelings.
I’m sticking to this plan no excuses!
