For a trader, they are more concern on: what is the lowest entry price? When should we withdraw? Reliability of released news? Blah Blah....
Phew.... Tremendous of uncertainty. "Better get rid of this risky game" For those who are not willing to take risk might perceived so...
So, who is right? What is wrong? Let's discuss...
When it comes to trading, it is no longer how hard you work for it. It's about how well or how right you put your knowledge in an organized manner and EXECUTE it with discipline! Making money in stock market isn't really that hard when you have a good 'Stock Trading Plan'.
What is Stock Trading Plan?
Some people might analogy the trading plan as a corporate Business Plan where the manager is managing the resources of the company. In the same fashion, a trader is managing his / her own investment fund in conjunction with ultimate goal - FINANCIAL FREEDOM.
A good trading plan layout how the trader make the trades, which including the consideration factor of timing, entry and selling price, stock volume, rumors, news and all other essential components of the trade. Your trading plan might not be exactly the same as others. It is your own road map as each traders has different trading style,different level of risks endorsements.
Another important criteria a trader must poses is DISCIPLINE. Stock traders who carefully plan and execute the trade have much better chance of making money than those don't. Don't ever let's your emotion to govern your actions.
"Plan Your Trade and Trade Your Plan" could be used as conclusion for above. Your might want to print out this miracle mantra and frame for your wall.
How to Initiate a Good Stock Trading Plan?
A successful trading plan doesn't have to be complicated. It could be the form in notebook or small little index card. Regardless of what are the method you choose, components below should have in the consideration before the trading plan is iron out.
1. Choose your trading style
