Do you plan your trades or do you think it’s a waste of time? Tim Bohen thinks that building a trading plan is one of the keys to being a consistently successful trader in the stock market.
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What belongs in a trading plan? In StocksToTrade Pro, you’ll have worksheets and checklists that you can use to ‘build the case’ to find out if the stocks you’re looking at are the ones you want to trade. Tim wants you to know why you’re looking at a ticker, why you bought in when you did, and what your trade plan was.
First, you’ll want to know what drew you to a specific stock in the first place. Many traders focus so much on making money, they’ll pick random stocks without building a consistent trade plan first. Know why you’re picking the stock.
Remember to work on your discipline. Write down the ticker, price, justification, what the stock has done in the past, and the pattern. Write down as much information as you can.
The last component is the entries and the exit. One of the biggest things that new traders struggle with is they’ll successfully research a stock, but if they don't stick to that stop and profit goal plan, they can turn winners into losers and turn small losers into big losers.

#StocksToTrade #TradePlan #DayTrading
*Tim Bohen teaches skills others have used to make money. Most who receive free or paid content will make little or no money because they will not apply the skills being taught. Any results displayed may be exceptional. We do not guarantee any outcome regarding your earnings or income as the factors that impact such results are numerous and uncontrollable.
You can lose money trading stocks. Do not invest money you cannot afford to lose. You understand and agree you will consider the important risk factors in deciding to purchase any of our products or services.

By Stock Chat

where the coffee is hot and so is the chat

13 thoughts on “Stock traders! here’s how to create the perfect trading plan…”
  1. Avataaar/Circle Created with python_avatars Danny Hardwick says:

    Thanks Tim Bohen

  2. Avataaar/Circle Created with python_avatars Jude Sanchez says:

    Love the podcast , lots of value. You really break it down well for a newbie like myself to understand well. My question is how do you calculate potential loss and potential profit when wanting to enter a stock?

  3. Avataaar/Circle Created with python_avatars NarniaB says:

    Love that 3×5 card in the keyboard tip! Thank you

  4. Avataaar/Circle Created with python_avatars Johnny Vu says:

    Worst trade plan video I watched. There are no steps and you are all over the place. I gotten more value from @HumbleTrader youtube.

  5. Avataaar/Circle Created with python_avatars Gregory Douglas says:

    Like to see some more detailed information on how draw resistance and support on the chart. When is it important to show a point of resistance and Support and Nguyen are small most unimportant

  6. Avataaar/Circle Created with python_avatars Chris Vardaman says:

    I believe that having a trade plan is very important, but you have to stick with that plan. Simply, due the fact the stock market is always in motion, and it could swing the opposite direction in split second.

  7. Avataaar/Circle Created with python_avatars Iván Rodríguez says:

    Checklist Manifesto is a great book. I think it even presents a Wall Street trader as an example of following a checklist strategy.

  8. Avataaar/Circle Created with python_avatars Karthik sj Javaregowda says:

    Intraday is good or bad

  9. Avataaar/Circle Created with python_avatars Bigasabus says:

    Brilliant advice thanks Tim. Great guy

  10. Avataaar/Circle Created with python_avatars Jhonny Arvilla says:

    I need to learn more about trading plan I had been doing paper trading and I feel this is the strategy that I need to apply for my benefit I do want to become a successful trader but I need to follow this trading plan thank you Tim for your videos

  11. Avataaar/Circle Created with python_avatars joe george says:

    I've been using a trading plan for about 6 months in my options trading. most times when I have a heavy loss, it's because I veried from my plan.

  12. Avataaar/Circle Created with python_avatars StocksToTrade says:

    Do you think having a trade plan is valuable or do you think it's a waste of time? Let me know below.

  13. Avataaar/Circle Created with python_avatars Israel Maldonado says:

    Very use full.

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