Process Plan vs. Trading plan

Adoralmeena

Member
75 7
Personally, I think the process plan and trading plan are the same two concepts. The process plan has some ultimate goal, meaning. But it also has a trading plan. And it seems to me that it's the same, with the same goal, to lead a trader to success.
At the initial stage of trading activity, the trader's trading plan is the first personal document that promotes success.
A professional differs from an amateur in that he trades according to a plan and even has several plans that work together. He adheres to them, despite all the temptations that go against the plan.

What's the point? The answer is simple - move away from the plan, it means to switch to emotional trading, which is always a risk. If everything works out today, there is no guarantee that success will continue tomorrow. The trading plan implies abandoning "accidental" profits in favor of long-term prospects. The only thing that can be worse than systemless trading is to spend time and effort on creating a system and not to implement it.
A trading plan is a comprehensive tool for making decisions in trading activities. It regulates what, when and how much to trade. It is an individual guide, which is compiled to match the temperament and trading style of an individual trader. The trading plan may include anything you find useful))
 
 
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