Trading Plan is the practical and structured diary, in the format 5.5 X 8.5 in, to monitor and control your trading activity.
Inside you will find many pages with everything you need to analyze your operations, date, trading instrument, entry point, position size, stop loss and take profit level, the risk/reward ratio used, the result of the transaction, the profit or loss recorded and an abundant space for considerations of trade outcome and the strategy used.You could also get inspired by some of the best motivational quotes page after page.
The potential of information as a strategic resource for successful trading activity, should be incorporated as a routine element into the development planning process. This Trading Plan Journal has been produced with the aim of increasing your self-awareness by following scrupulously guidelines and respecting all the rules of your own trading system.
Registering details of each operation is not only a good custom, but also helps you to acquire self-confidence and discipline in relation to your operative strategy, giving you concrete and tangible possibility to check all progresses as well as all mistakes that have been taken.
In fact, having a large amount of concrete and objective data can be easily used to analyze your mistakes and understand if and where you are wrong, and to adopt the necessary solution to solve the problem.
Not doing that, it would like driving a car at night with a headlights off..
So, planning and monitoring your daily trades is essential to sustain trading activity for a long term.
Although there are a lot of technological ways to create reports, even automatic, do not underestimate the importance of transcribing data with pen and paper, especially on a diary that gives you the correct guidelines to do so.
In this way, as well as from a psychological point of view, taking notes by yourself will give you a greater perception of it, because writing it manually will help you to draw up the most important aspects of each trade.
