Link: Dr. Hong’s Insights on Writing a Trading Plan

Nov 27, 2007: 2:49 AM CST

Dr. Bruce Hong at TraderPsychology posted an excellent series regarding the crucial factor of Writing a Trading Plan and I wanted to call attention to this extremely helpful series of posts.

I’ve heard it said that a vast majority of market participants do not have a written trading plan that they developed themselves, and that having one (going through the mental and physical exercise of creating a personalized trading plan) puts you at a great advantage over those who do not; in short, a proper trading plan will provide an amazing edge of market participants who have not taken the effort to do so.

Dr. Hong begins by considering “Questions to Ask when Writing a Trading Plan.“  Please refer to his post for all of the questions which will start your mind brainstorming on the proper path.

The series of posts progresses with the following topics:

Writing Your Trading Plan

Writing Your Trading Plan (Part 2) 

Writing Your Trading Plan (Part 3)

Using Your Trading Plan

Dr. Hong includes physiological components to the trading plan (including vital statistics, nutrition, and other health concerns), which is an essential yet unique idea that you should explore further.

Please visit his site for more information on how to create, develop, and then use your own personalized trading plan.

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