Saira Khalid

Strategies to Stick with your Trading Plan

By No Comments

Strategies to Stick with your Trading Plan

Contributed by Saira Khalid from Mind Power Training Pty Ltd

Dear Traders

Today I will share with you a process from my Mind Power Training course which is extremely effective in managing your states and following your trading plan so you create regular profits from your trading.

I want you to take a piece of paper and divide it in 2 columns.  In the first column write your top 3 trading decisions you made in the last 30 days that succeeded and in the second column write the top 3 highest losing trading decisions. Once you have got this out on paper in front of you I now suggest you review your trade. You need to ask the following questions:

  1. Were my decisions based on a specific strategy?
  2. If based on a specific strategy did I comply with every rule?
  3. When trading with a shorter timeframe did I also check the trend direction in the longer timeframe?
  4. When trading in the longer time frame did I check the shorter time frame?
  5. Did I make an impulsive decisions in any trade? What was the result of that decision?
  6. Did I make a trading decision because I was frustrated for not finding any trades that were befitting my rules?
  7. Do I doubt myself when taking a trade?
  8. Do I make rash decisions?
  9. Do I get bored by looking at the charts and then compelled to trade because I want to feel I have accomplished something?
  10. Do I think I already know everything or the opposite (ie I don’t know much, I will never learn!)

These are just examples. You need to write your own story. This will reflect your inner beliefs as well as your mindset about what kind of a trader you are aspiring to be and what you actually are doing!

I am much interested to know what you discover as a result of doing this exercise over atleast 2 weeks.

Please email me on [email protected]

You may also like to read:

Please Leave a Comment

Your email address will not be published. Required fields are marked *