🧬 Trading Strategy

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The overall strategy behind the plan. Why are you doing this, how will you do it, how will you stay on course and improve?

• Problem or opportunity to solve
• Unique edge to maximize effectiveness
• Own weaknesses to overcome
• Action plans
• Guiding policy
• Feedback loop, error corrections

Based on the Rumelt strategy method: https://en.wikipedia.org/wiki/Strategy#Components

📋Trading Plan

♻️ Risk

<aside> 💡 Sustainability vs profitability

</aside>

• Fixed %
• Fixed size
• Correlated pairs/markets
• Risk:Reward plan

⏯ Entry

<aside> 💡

Entry for optimal momentum, RR

</aside>

• Key areas of value
• Trend follow or reversion
• Indicator calculations

⏹ Exit

<aside> 💡 Exit for optimal profit, RR or at structure

</aside>

• Stop placement
• Target placement

🛡 Scaling

<aside> 💡 Scaling in or out, reduce risk, drawdown, avg profit

</aside>

• Scale in - lower initial loss
• Scale out - better win rate

🧰 Routine

<aside> 💡 Routine for awareness, consistency

</aside>

• Market analysis
• Trading times
• Monitoring times

⏱ Timeframe

<aside> 💡 Timeframe for your strategy + plan

</aside>

• Optimal timeframe
• Alternatives

💎 Psychology

<aside> 💡 Methods for maintaining a stable state

</aside>

• Emotional state
• Off-plan trading
• Recovering from tilt

💸 Returns

<aside> 💡 Expected returns from this strategy + plan

</aside>

• Monthly returns
• Operational costs
• Opportunity costs

🌋 Five human errors that erode edge

Note down every time one of these happens. Reveal your inner demons. Credit: Trader Dante