The purpose of a trading plan is to minimize the amount of the time you spend flipping through charts and searching for trades – and prevent traders from making impulsive decisions.Ī trading plan is the professional approach to analyzing, planning and executing your trades. If you say that you don’t need a trading plan, but you answered one of the questions with ‘yes’, you are lying to yourself out of laziness…

Do I want to save time during the trading week and minimize the time staring at charts?.Do I flip through the same timeframes during my trading sessions, looking for setups?.Have I identified a potential setup before but then forgot about it?.There are three simple questions you have to ask yourself and if you answer one with yes, a trading plan will definitely improve your trading performance: And as we said in our last article, when you want to combine your regular job and trading, a trading plan is a must-have. In this article we’ll show you how to setup the free program Evernote TM so that it can be used as a very powerful personal trading plan and create your own trading plan template.Īlthough it might look like a lot of work, a trading will save you time during the trading week and will undoubtedly increase your trading performance. We now offer a free trading plan template on our partner site If you still hear yourself saying “I don’t need a trading plan”, you need it more than anyone else and you are just lazy! We’ve all been there, but the good news is that there is an easy solution how to overcome this nasty and time wasting timeframe-flipping habit: the trading plan.

How often have you found yourself flipping through timeframes of the same instruments time and time again without really knowing what you were looking for!? And how many times did you identify a potentially good setup but then forgot about it just to see that it played out exactly as you thought it would a few hours later?!

Evernote templates 2016