ALL successful traders have a trading plan. Do you?
New York Traders Expo
I recently presented at the Traders Expo in New York. Whilst there, I was interviewed by Moneyshow.com.
Global Chinese Financial Forum in Dalian, China
I also presented at the Global Chinese Financial Forum in Dalian, China in October 2008. Watch my unofficial Globetrekker report below as I show you around Xinghai Square in Dalian, China.
My Trading-plan.com Website
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A short letter from Stuart ...
Are you interested in making money? No need to answer - who isn't?
The bottom line is that profitable traders have a trading plan that they implement with confidence. You should too!
"If you fail to plan, you are planning to fail!"
The trading plan model I always use is as follows:
Some people will use terms other than what appear above (eg. Trading Psychology for Mindset / Risk or Money Management for Money / Trading System for Method), however I like these terms as they are easier to remember. The 3 Ms!
Unfortunately, many traders are not successful! There are numerous reasons for this and I want to tell what they are. I want to help you avoid making the same mistakes. I've built this website to help you ...
One of the main reasons is that many people don't have a trading plan.
When you don’t have a plan, your trading decisions are largely based on hunches, instincts and emotions - chances are you will not achieve long term success.
Having a written trading plan provides you an edge over most market participants and in an arena where most people fail, how can you afford to not give yourself an edge?
"In regards to being successful in the markets, I think the single most important element is having a plan."
Howard Seidler in 'The New Market Wizards' by Jack Schwager
Many people think that trading is easy money - it may be the hardest easy money there is! Trading has relatively straight forward concepts, yet is amazing how many people make a mess of it.
Here at trading-plan.com, I want you to gather knowledge and acquire skills that will empower you to develop a trading plan that is right for you and that you will implement with confidence.
I wish you well with your journey and hope this website empowers you to trade well and profitably, and to change your life forever.
Regards, Stuart McPhee
Trader and author
Stuart has presented at trading events throughout the world:
The Trading Mindset (Psychology) The largest part of your success is your mindset. How are you going to avoid making the same mistakes that most people make?
Money Management Money Management will make or break you as a trader - what steps are necessary to ensure survival?
Trading Method The least important of the trading pie is your trading method. What items are included in your method?
What is Trading? In simple terms, trading is the process whereby we regularly buy financial products, primarily in a market (more officially referred to as an exchange), and then sell them later for a higher price.
What is a Trading Plan? First and foremost for a good trading plan is having a plan that perfectly suits you and is right for you. The best traders have discovered an approach that they are very comfortable with.
Technical Analysis One of the main methods used by traders to identify trading opportunities is technical analysis.
Options Trading Options are a type of derivates, which are so named as they derive their price from something else. This is normally a stock, commodity or an index, which is often referred to as the underlying.
Forex Trading The foreign exchange market facilitates the conversion of one national currency into another and is the worlds largest financial market.
Trading Basics Welcome to the Trading Basics section. This section is designed to introduce beginners to the fascinating world of trading.
Trading Coaching The finest personal training which is suitable for those starting to trade through to experienced traders.
The Time Tested Trading Rules There are a few trading rules that have stood the test of time and enable traders to trade profitably, yet a lot of people fail to follow them.
Trading Links Here are some useful Trading websites that you may find of benefit to you.
MetaStock Data The finest MetaStock Data available for multiple markets - 3 week free trial available.