This is a Clip from one of our Language Of Markets Live Sessions. I show how to structure a trading plan from beginning to end using a daily WEAT chart which is an ETF of the Wheat futures market. Having a plan of the things you can control goes a long way when it comes to your trading consistency and conserving phycological energy. See Foundations Of Trading Part 6 post for more on trade planning. Your trade plans will be unique to your needs but you can use this as a guide.
Basically, know your method and design rules for:
- Entry: Know what gets you in
- Initial stop: know where your stop goes
- Money management: Know your position size and trade management after in trade
- Exit: know what gets you out