A Trading Plan - You MUST Have One!

Jun 20, 2004
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Wilmslow, Cheshire
#46
Hello All,

Better late than never to join the discussion I guess!

I wrote this trading plan with the intention of my Dad (a stock market illiterate) being able to pick it up and broadly understand what I do. I like the fact that it took as much time and effort to produce though, as it gave me a sense of professionalism that previous plans hadn't - after all, I want this to soon become my sole profession.

I hope this can help some of you out there.

Regards, Dave.

P.S. I am NOT trading this at the moment because:
1) It didn't gel with my trading style (To many pullbacks after entry - I want quicker results)
2) LSE may not be best market (will need to try on US stocks)
 

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timsk

Well-known member
Mar 18, 2002
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#47
David,
Thank you for resurrecting this thread and for the attached trading plan.

I have just about completed the 'Trading Plan Template' that I offered to compile based on the various contributions made on the thread as well as ideas gleaned from other sites etc. Sorry for taking sooooo long to write it! I will be posting it sometime over the coming weekend having made a few final corrections.
Cheers,
Tim.
 

timsk

Well-known member
Mar 18, 2002
6,787
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#48
t2w Trading Plan Template

Hi All,
As promised, attached is the trading plan template. If you download a copy of it, please send a check for £49.99 made payable to 'timsk', c/o Sharky at t2w. Only joking - unfortunately! On a slightly more serious note, I hope you find the template useful and that it helps you to create trading plans that make you truck loads of wonga. However, this is only on the express condition that I'm not on the other side of your trades! Lastly, on a genuinely grave point, if it all goes horribly wrong, don't come knocking on my door when you're looking for someone to blame. Please read the disclaimer on the cover!
Enjoy,
Tim.
 

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dbphoenix

Well-known member
Aug 24, 2003
6,915
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#49
Nice job. You may well become one of the 5%. :)

For convenience' sake, I've taken the liberty of converting this to a pdf for those who prefer pdfs for whatever reason.
 

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Orion

Active member
Sep 16, 2003
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#50
An excellent contribution. Well done.
 

barjon

Well-known member
May 6, 2003
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#51
timsk

That's really far too good to get lost buried in a thread. Why don't you submit it as a Knowledge Lab article, I'm sure it would be well received.

good trading

jon
 
Mar 14, 2003
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www.frugi.co.uk
#53
A brave and complex undertaking, with a top drawer result. Thank you very much timsk. The Knowledge Lab is certainly salivating at the prospect of its inclusion, if you are happy to allow your tour-de-force to be featured there. :)
 

SvenFoster

Active member
Dec 4, 2003
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#55
By far one of the best collaborative efforts seen that couldn't have been collated better. A fantastic read worthy of another one tomorrow, and the day after...

I wouldn't be surprised if sections of this ended up in a $49 e-books :rolleyes: and sum how missed the point but you can't stop that i guess.



Timsk, I can tell you've been busy but someone putting this into a "knowledge lab-ette" would ensure its rightful place in e-history.

Sven
ps: it couldn't have came on at a better time for me
 

dbphoenix

Well-known member
Aug 24, 2003
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#56
It's not an e-book, but Vad Graifer sent me a copy of his new book The Master Profit Plan: Your 5-Step Trading Plan Workbook a couple of weeks ago and it shares the general thrust. At least traders now have at least two resources for creating and developing trading plans.
 

timsk

Well-known member
Mar 18, 2002
6,787
1,740
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#57
Thanks folks for your kind words. Do you ever remember seeing a child over inflate a balloon and thinking 'just one more little puff and the balloon will burst and there will be tears?' Well, my fragile male ego is at that precise point.
:cheesy:
While I'm delighted with the positive response (so far!), my take on it is that the template is a tad dull and lifeless by itself, a bit like non alcoholic beer or a new home with no furniture, carpets or curtains. It would be far more potent and, indeed, poignant if there were a few real trading plans created using the template. So, I urge anyone who uses the template to submit their plan. Everyone will benefit: the wider trading community will be enriched by your offering and doubtless you will receive free advice about any weak areas of your plan that could be improved. A 'win win' situation all round.

db,
Thanks for creating the pdf file - that would never have occurred to me! Is the Vad Graifer workbook that you mention available off the net for free? If so, would you post the link please.

Cheers,
Tim.
 

dbphoenix

Well-known member
Aug 24, 2003
6,915
1,155
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#58
timsk said:
db,
Thanks for creating the pdf file - that would never have occurred to me! Is the Vad Graifer workbook that you mention available off the net for free? If so, would you post the link please.

Cheers,
Tim.
Not exactly. It's $45. Info is available at realitytrader.com (it's not listed on Amazon yet).

If I were you, I'd place copyright notices on your work. They don't offer all that much protection, but at least you might make those who steal it feel a bit guilty. Or make it pretty and post it, as suggested, in the Knowledge Lab. People would have something to link to other than a message board post (more cachet as an article) and you'd stand a fair chance of receiving due credit. And the plans you're asking people to submit can be posted to the forum set aside for the "article".
 
Mar 14, 2003
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www.frugi.co.uk
#59
There is a strong chance it will become part of the KLAB, but for the moment we lack a Content Editor, so it will be a short while before anything happens - sorry!. Meanwhile I agree that taking steps to guard your intellectual property is a good idea, timsk. Rogues abound in this field, as you know.
 
Apr 24, 2004
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#60
frugi said:
There is a strong chance it will become part of the KLAB, but for the moment we lack a Content Editor, so it will be a short while before anything happens - sorry!. Meanwhile I agree that taking steps to guard your intellectual property is a good idea, timsk. Rogues abound in this field, as you know.
I absolutely agree with your advice with regard to guarding intellectual property and your real and very valid warning about marauding rogues, some of whom incidentally successfully masquerade as helpless and / or curious and / or in need of help, or otherwise but in reality are covert persistent information beggars and pirates. Some of these actually transform the original information to make it unrecognisable and useless.

On the other side of the coin, I frequently spot sporadic information and advice which is truly priceless, but only to those able to recognise these and to use them properly. In this regard, I have come to the conclusion that no matter how clearly or persistently these may be put in front of an audience there are very few able to recognise these gems for what they truly are, the great majority are apt to dismiss them as mere pebbles.

This leads me to the conclusion that the great majority are apt to ignore what ought not to be ignored in preference for what ought to be. In the stampede for what in mainstream terms are viewed as solutions, the real answers remain unasked and unaswered. The latter part of this paragraph involves work, real work, which the great majority are either unwilling or unable to carry out for themselves.

Because the great majority are either unable or unwilling to do the work for themselves, therefore exposure of a plan that requires personal effort is not viewed with the value that it should have attached to it. This is not what people want, they want quick fix solutions, signals, indicators, formulas, systems, black boxes, and all sorts of gimmicks that will exonerate them, according to their perception, from the tedium of what is truly required.

Therefore, anything that requires graft must be safe. Long may this continue.

Kind Regards As Usual.
 
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