Trade Plan

Taking On Discipline In Stages

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Once you have decided that you need discipline in your trading, knowing where to start can be difficult and overwhelming. There are many pieces to a trading plan, and it’s easy to feel overwhelmed.

You can break the task into manageable sections and master one discipline at a time, or focus on the the discipline you need. This approach makes the process more manageable and ensures that each aspect of your trading strategy is given the attention it deserves.

Trading Plan Components: Each of these sections should have objective rules so there isn’t any escape room:
Method Rules
Entry Rules
Stop Rules
trailing Stop Rules
Exit Rules
Journaling

Trade Plan for TME, COIN

Shane

A Good Practice Destroys Itself

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We take on a discipline to do something we don’t naturally do or want to do. We set some rules that will be uncomfortable and ride out the restless energy.

Keep in mind that a good practice destroys itself, the whole point of a discipline is to get to the point where we don’t need the discipline anymore. That is called transformation and it takes time.

By being consistent with discipline over time, the reactionary impulses begin to die down and you will find yourself more balanced. This is where true intuition can begin to show up.

At some point, you might see where one of your strict rules doesn’t make sense for a trade and if you come from a balanced mindset, you can make a commonsense decision about it.

This kind of thing is testable if you have an objective method. You test your intuitive results against the objective method results. This is all a one-step forward, 2 step back kind of thing and takes time to develop. If you’re in a rush, this tells you you’re not balanced and need to keep the steady discipline.

Shane