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Table of Contents

T R A D I N G P L A N P L A N N E R .............................................................................................................. 1
Introduction - General Trading Description ........................................................................................................ 3
New Traders ...................................................................................................................................................... 5
Experienced Traders .......................................................................................................................................... 6

TRADING STYLES ............................................................................................................................................. 6

Discretionary Trading ........................................................................................................................................ 6
Automated Systems Trading .............................................................................................................................. 7

RISK MANAGEMENT PLAN ............................................................................................................................ 9

Types of Stops ................................................................................................................................................... 9
Trailing Stops .................................................................................................................................................. 12
Breakeven Stops .............................................................................................................................................. 12
Managing Your Trades after Exiting ................................................................................................................ 12

TRADING EXECUTION PLAN ....................................................................................................................... 13

Trading Times ................................................................................................................................................. 13
Trading Multiple Timeframes........................................................................................................................... 13
Trading Style (Day Trading) ............................................................................................................................ 15
Trading Style (Swing Trading) ......................................................................................................................... 18
Trading Style (Position Trading) ...................................................................................................................... 21
Managing Your Trades after Entry ................................................................................................................... 24
Share Size Reduction Criteria ........................................................................................................................... 24

MONEY MANAGEMENT PLAN ..................................................................................................................... 26

Preserving Trading Capital ................................................................................................................................ 26

Trading Profits ................................................................................................................................................. 26
Trading Expenses ............................................................................................................................................ 27

TRADING DIARY and RECORD KEEPING .................................................................................................. 28

TRADING PERFORMANCE REVIEW ........................................................................................................... 28

TRADING LESSONS LEARNED ..................................................................................................................... 29

DISASTER AND RECOVERY PLAN .............................................................................................................. 30

APPENDICES .................................................................................................................................................... 30

REFINING YOUR TRADING PLAN ............................................................................................................... 31

Introduction - General Trading Description

The intent of the Trading Plan Planner (TPP) is NOT to provide all the necessary steps and
answers for a detailed trading plan. The intent of the TPP is to guide the trader through a logical
planning process to create a trading plan that can be refined over time.

Each trader’s approach and style will vary according to his/her demeanor. Therefore, each TPP
will be different for each trader – customized to meet the needs of the relevant individual. This
document is merely a template with guidelines to which you may add, delete, and/or revise any
item that will assist you in successful trading.

Use this section as an Introduction to your Trading Plan. Start with listing and explaining the
fundamentals of your trading style. The following questions may assist you in doing so.

Make your responses professional, complete, and concise.

1. What style (e.g., scalping, day trading, and position) and type (e.g., long or short) of
trading strategies will you be using?

2. What securities and instruments (e.g., futures, stocks, options) will you trade?

3. In what markets (e.g., NASDAQ, NYSE, and FOREX) will you trade?

4. What are the primary “most favorably traded” instruments (e.g., e-mini(s)) that are traded
by professionals in these markets?

5. Are there any reasons to be concerned about what markets and instruments you are going
to trade (e.g., product expiration, new competing products, etc.)?

6. Will your strategies be automated or will they require you to execute them manually?

Mission Statement
Many traders have a brief mission statement, usually in fifty (50) words or fewer, explaining
their reason and passion for pursuing trading and their guiding principles.

If you want to draft a mission statement, this is a good place to put it in your trading plan,
followed by trading goals and objectives.

Trading Goals and Objectives

Trading decisions are often made in milliseconds, resulting in both favorable and/or unfavorable
outcomes. The impulse of your trading decisions can lead to potential gains or losses and
provides a critical foundation for why having clearly defined goals is essential. With changing
technology, changing demands on traders, and increased sophistication, trading haphazardly may
be viewed as potential trading suicide.

Goals are final outcomes of where you want your trading to be.

Objectives are milestones along the way to achieving your goals.

For example,
1. A Goal might be to have consistent and successful trading profits on a
monthly basis.
2. Objectives might be weekly profit targets and some specific measures of trade
success, such as 3 out of 5 profitable trading days per week.

Once you have clearly defined goals and objectives outlining the milestones along the way, you
are ready to develop a logical map to assist you with determining your trading strategies. Each
strategy you develop needs to include an expectation of risk/reward, trading style, timeframe,
and commitment.

Trading Philosophy
A trading philosophy leads a trader down a path of what is fulfilling to him/her about trading.
One of the most important requirements successful traders look for is addiction reduction and
emotional detachment to having to trade. The following questions may provide some guidance
in defining your trading philosophy.

1. What is required for you as a trader to trade in a stress-free and worry-free manner?

2. What is important to you in trading?

3. Are there any tenets that you will follow during your development?

4. Describe your trading style and how it is consistent with your personal demeanor.

5. How will you position yourself to be poised to take advantage of the trading opportunities
associated with your trading style?

6. Describe your most important trading strengths and core competencies.

7. What factors will make you succeed at trading? What do you think your major
competitive strengths will be? In what areas do you have insufficiencies?

8. What background experience, skills, and strengths do you personally bring to your
trading venture?

9. Will you be creating a trading business entity?

If so, which legal form of ownership:
Sole proprietor
Partnership
Corporation or
Limited liability Corporation (LLC)

10. Why have you selected this form?

The above questions are some of the questions that you may want to answer and
include in this section.

New Traders

The trading plan can consist of a narrative and several potential logical worksheets. The logical
trading rules and criteria templates can be the main body of your trading plan. The remainder of
this document contains more than 100+ suggestions, examples, and questions divided into
several sections. After completing the sections with your trading strategies, revisit the
INTRODUCTION - General Trading Description section and evaluate your comments. When
you are finished writing your first draft, you will have a collection of small essays and detailed
trading logic that outlines your trading strategy. At this point, you will want to edit and
summarize them into a smooth-flowing checklist for everyday use.

The real value of creating a trading plan is not necessarily having the finished product in hand.
Rather, the value lies in the process of researching and thinking about your trading in a
systematic and logical way. The act of planning helps you to think your trades through
thoroughly, study and research if you are not sure of the setups, and look at your strategies
critically. It takes time, but doing so now will avoid costly, perhaps disastrous, losses later.

This trading plan is a generic model suitable for all types of trading styles. However, you should
modify it to suit your particular circumstances. Before you begin, review the section titled
Refining the Plan, found at the end of the document. It suggests emphasizing certain areas
depending upon your style of trading (e.g., scalping, swing, and position). It also has tips for
fine-tuning your plan to transition to “Trading for a Living”. If this is why you are creating your
plan, pay particular attention to your trading strategies. The market is not forgiving.

It typically takes some traders several weeks to several months to complete a good trading plan.
Most of that time is spent in research identifying their trade setups and re-thinking their past
trades with detailed emphasis on the criteria used for the setups and risk and money management
rules. Understand that this is the value of the trading process. Those traders who do so never
regret the effort.

If you need assistance with your trading plan, contact Trading EveryDay to set up a
complimentary coaching session at www.tradingeveryday.com.

Keep the following items in mind as you use this template and develop your plan:
1. Work through the sections in any order that suits you.
2. Skip any questions that do not apply to your style of trading.
3. Make time to treat your trading as a job and do the job properly.
4. Keep detailed notes on your charting resources of information and on the rules
underlying your strategies.

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