Have a written Plan for Trade : Plan your trade, Trade your Plan

Be disciplined, create a game plan then stick to it. A trade does not simply consist of a position. It consists of a position plus reasons for having the position plus a stop loss level plus profit taking levels all wrapped up in a simple risk management strategy.

A written plan will assist in removing the temptation to make things up as you go along. You should have only one approach to tracking and keep this as simple and clean as possible. It is important you periodically evaluate your plan in light of changing market conditions.

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