Consider what your Trading lifestyle will look like. Your answers will be the beginning of your customized Trading Plan from a Chief Executive Officer (CEO) perspective. The CEO defines purpose, funding, and expansion of the business plan. Here are few things to consider as you prepare for your course:
What markets will you be Trading?
How many days per week or per month will you be actively Trading?
What days of the week will you be most active?
What time of day will you be Trading?
How much capital will you initially allocate to your Trading account?
How do you define success?
What level of success warrants additional capital?
When should additional strategies be considered to provide more trading opportunities?
Answering these questions will become the framework of your trading business.
The second portion of your Trading plan will be focused on the specific activities performed while Trading. This portion of the Trading Plan will be the precise rules in identifying an opportunity, managing risk, and capturing profits. The CEO portion of the Trading Plan is big picture. The second portion provides specific activities performed, like job responsibilities provided to an employee. The job of the employee is to execute the Trade Plan with efficiency and accuracy.
