Creating Your Best Trading Plan
By Denise Shull   
June 17, 2011

We all know the phrase - "Plan the trade, trade the plan." And generally it is good advice - but only generally. As well all know, trading is FAR from that simple...and plans aren't easily followed.

But guess what? Most traders I know work really hard at trying to be good at this. Most DO NOT just willy-nilly ride into the market and do whatever. Most have a plan - at least of some sorts.

Now could that plan be better? If could - but probably NOT for the reasons you think. The part of the plan that is missing is the part where you figure how how you are going to manage your mental/emotional capital and turn it into psychological leverage.

How much time have you really spent - or do you spend on thinking about how to put yourself in the optimal decision making shape? How seriously have you taken the research about sleep and risk management?

You want an edge? You can have one - simply by applying all that discipline everyone else talks about to managing your psychological leverage. If you do so...and you take into account ALL of the element - energy, attitude, expectations, repeated behaviors ... you will have an edge over the markets (all of the other traders) that no price action can deny you.

All you have to do is put the time and energy into your head ... each and every day.

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