All consistently profitable traders have a trading plan that they implement with confidence. Furthermore, they have a trading plan that suits them.
You should too!
“If you fail to plan, you are planning to fail!”
The trading plan model I always use is as follows:
Some people will use terms other than what appear above (eg. Trading Psychology for Mindset / Risk or Money Management for Money / Trading System for Method), however I like these terms as they are easier to remember. The 3 Ms!
Unfortunately, many traders are not successful! There are numerous reasons for this and I want to tell what they are. I want to help you avoid making the same mistakes. I’ve built this website to help you …
One of the main reasons is that many people don’t have a trading plan. When you don’t have a plan, your trading decisions are largely based on hunches, instincts and emotions – chances are you will not achieve long term success.
Having a written trading plan provides you an edge over most market participants and in an arena where most people fail, how can you afford to not give yourself an edge?
In regards to being successful in the markets, I think the single most important element is having a plan.
Many people think that trading is easy money – it may be the hardest easy money there is! Trading has relatively straight forward concepts, yet is amazing how many people make a mess of it.
Give me six hours to chop down a tree and I will spend the first four sharpening the axe.
Here at stuartmcphee.com, I want you to gather knowledge and acquire skills that will empower you to develop a trading plan that is right for you and that you will implement with confidence.
I wish you well with your journey and hope this website empowers you to trade well and profitably, and to change your life forever.