A trading plan is the difference between a process and a series of impulses. It does not need to be complex — it needs to be written down and followed.
YOUR EDGE, STATED PLAINLY: Write the exact conditions under which you take a trade. If you cannot describe your setup in two sentences, you do not yet have one.
RULES FOR ENTRY, EXIT AND REVIEW: Define entry triggers, profit targets, stop placement and the maximum you will risk per day. Then schedule a weekly review — the plan only compounds if you study your own results.
KEEPING A TRADE JOURNAL: Log every trade: what you saw, what you did, and what actually happened. Patterns in your losses are usually patterns in your process, not just your market reading.
