What to Include in Successful Trading Plan

Do your homework
You can’t expect to successfully trade in a vacuum. Therefore, before the market opens, be aware of what is going on around the world. What are the overseas markets doing? Also, learn what the economic or earnings data is and when that information is due out. Rather than taking an unnecessary risk, it’s best to wait until that report is released. Professional traders are not gamblers — they trade on probabilities.
Prepare for trading
Keep your trading area distraction free because distractions can be costly in the trading arena. Whichever trading program you use, label the major, minor, and resistance levels and set alerts that you can easily see (or hear if you use an auditory signal).
Set exit rules


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