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Trade plan is choosing the right stock to buy, deciding when to buy & sell, which trading instrument to use for the scenario. Without a trade plan, trading becomes a gamble.
<span style=”color: #777777; font-family: ‘Roboto Slab’; font-size: 13px;”>The trading plan is nothing but identifies the stock, analyse the trend using technical analysis, enter the trade where the trader is comfortable after fixing the target and stop loss.</span><br style=”box-sizing: border-box; color: #777777; font-family: ‘Roboto Slab’; font-size: 13px;” /><span style=”color: #777777; font-family: ‘Roboto Slab’; font-size: 13px;”>very much essential because there is a great chance of losing money without trade plan and would become a gambling .</span>
If we trade without the trade plan we may tend to pick the stocks which will not do well and make us loss most or all our capital
A systematic method for screening and evaluating stocks, determining the amount of risk that is or should be taken, and formulating short and long-term investment objectives. A successful trading plan will also involve details like the type of trading system to be used.
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