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Game Plan

gameplanCreating a game plan is very easy and you can do in a matter of minutes. Here are the key steps to creating a very basic game plan:

1) Write down your reasons for buying or selling a particular market.

2) Write down your entry point for the market you’re about to trade. Why are you getting in? Did you see a technical set up?

3) Write down when you are going to exit this market. Why and when are you going exit? Was your profit target reached, or were you stopped out?

4) Do not make market decisions during trading hours. It may sound easier said than done, but watching the daily ticks can cause your emotions to go haywire. (more…)