I found these tips on this website and I thought I should share.
Trading Plan example
Short Term / Day trade
No more than 2% total account balance on any one trade
Set stop losses at 7% below current price
Take profits at 10% gains
Trade high volume markets for profit from volatility
Slow and steady wins the race
Don't get caught up in the hype/FUD listen to yourself
Make sure you write down the pros cons of the trade
Never make a trade for the wrong reasons
Don't trade money you don't wanna loose
Long Term / Buy hold
Buy in 1,2,3 bottom formations
Make sure you never buy with money you don’t want to lose cause you will be to emotionally attached to the investment
Never panic sell
No more than 15% of your account balance on any one trade
The longer you can hold the better
Don't check on the graphs too often you might trick yourself into panic selling or buying.
Don't sell unless you have profit
Sell 80% of your position at 100% Gains
!!!Disclaimer by the author: This trading plan is a “Example/template” I have traded with these plans and had great success its important to customize it to your personal trading style though))!!!
Self control and trading plans / risk management is the most important thing in trading.
