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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✅ Recommended playlists:
Stock Trading 101: A Day Trader's Guide: https://www.youtube.com/watch?v=G_v3GMkKCjk&list=PLWWz2BSabm3bG64ohfJ-CnnVTjLCWwvei
Advanced Stock Trading Tips: https://www.youtube.com/watch?v=OXLs_-PgMUk&list=PLWWz2BSabm3YCZdk7ocrBXGJaLVXXFUYb
StocksToTrade Software Tips and Tricks: https://www.youtube.com/watch?v=jiTi-chHNyo&list=PLWWz2BSabm3ay_lvQC9JN_1niB78bI7ga
Weekly Trading Recap Videos: https://www.youtube.com/watch?v=_n0XaDt1XFY&list=PLWWz2BSabm3b3-4DcEx98TzNPLAKcq6ES
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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.
🔴 Subscribe for more free Stock Trading tips: YouTube.com/StocksToTrade
Share this video with a fellow Trader: https://youtu.be/HzbyomLG2cs
✅ Links we mention and recommend:
Try StocksToTrade for $7: https://stockstotrade.com/14daytrial/
Get our FREE weekly watchlist here: https://stockstotrade.com/watchlist
Check out the SteadyTrade podcast: https://steadytrade.com
✅ Recommended video: https://youtu.be/CPDjFpfw5OQ
✅ Recommended playlists:
Stock Trading 101: A Day Trader's Guide: https://www.youtube.com/watch?v=G_v3GMkKCjk&list=PLWWz2BSabm3bG64ohfJ-CnnVTjLCWwvei
Advanced Stock Trading Tips: https://www.youtube.com/watch?v=OXLs_-PgMUk&list=PLWWz2BSabm3YCZdk7ocrBXGJaLVXXFUYb
StocksToTrade Software Tips and Tricks: https://www.youtube.com/watch?v=jiTi-chHNyo&list=PLWWz2BSabm3ay_lvQC9JN_1niB78bI7ga
Weekly Trading Recap Videos: https://www.youtube.com/watch?v=_n0XaDt1XFY&list=PLWWz2BSabm3b3-4DcEx98TzNPLAKcq6ES
✅ Follow StocksToTrade on social media:
Instagram: https://www.instagram.com/stockstotrade/
Facebook: https://www.facebook.com/StocksToTrade/
Twitter: https://twitter.com/StocksToTrade
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.
Thanks Tim Bohen
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?
Love that 3×5 card in the keyboard tip! Thank you
Worst trade plan video I watched. There are no steps and you are all over the place. I gotten more value from @HumbleTrader youtube.
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
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.
Checklist Manifesto is a great book. I think it even presents a Wall Street trader as an example of following a checklist strategy.
Intraday is good or bad
Brilliant advice thanks Tim. Great guy
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
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.
Do you think having a trade plan is valuable or do you think it's a waste of time? Let me know below.
Very use full.