How To Create A Trading Plan Vs. Trading Strategy - Step by Step
ฝัง
- เผยแพร่เมื่อ 3 ก.ค. 2024
- To get the transcript and MP3, go to: www.rockwelltrading.com/day-t...
How to create a trading plan:
A solid trading plan is the cornerstone of your trading business.
Many traders think that all they need is a trading strategy.
This is NOT the case!
Let me explain the difference between a trading plan vs trading strategy, and how to create a successful trading plan.
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✅ First, subscribe to my channel here so you never miss a new video: bit.ly/3aLKLDz
📺 Watch My Daily Trading Routine that takes me less than 15 minutes a day: go.rockwelltrading.com/my-tra...
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💻 Need a broker? We prefer trading using Tradier! Sign up here: go.rockwelltrading.com/tradie...
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✅ First, subscribe to my channel here so you never miss a new video: bit.ly/3aLKLDz
📺 Watch My Daily Trading Routine that takes me less than 15 minutes a day: go.rockwelltrading.com/my-tra...
📕Get a FREE Hardback Copy Of My New Book “The Wheel Options Trading Strategy”: go.rockwelltrading.com/the-wh...
💻 Need a broker? We prefer trading using Tradier! Sign up here: go.rockwelltrading.com/tradie...
📈 TradingView is my favorite charting platform. I use the Pro Version: go.rockwelltrading.com/tradin...
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Excellent video, very clear an easy to understand. Kudos
Thank you! :)
trade what you see and not what you think ,this goood to learn from you thanks Markus
Awesome! :)
Hi Markus. Good advise for my 2020 success plan. Thanks for sharing this tips to us. !!
You are welcome! :)
Really great explanations :)
I am glad you like it! :) I hope this helps!
Very educational for beginners
Awesome! Thank you for watching! :)
Great detail
Thank you for advices
You are welcome!
thanks Markus as always Superb Subject thank you :)
You are welcome! :)
Awesome job Sir.
Thank you! :)
Very helpful, thank you.
Hi Cristiano, thanks for watching. And thanks for your feedback. Much appreciated. "See you" in the next video 👍
Great job Markus.
Thank you! How are you doing? What do you like about this video?
Excellent presentation! Subscribed
Awesome! Thank you for watching! :)
Hi Markus, around 5m when explaining the ATR movements the 3 different time frame charts are in the wrong order causing mild confusion as to how you’ve arrived at the average daily range and stop loss placement. Really liking the simplicity of your main strategy and how much alpha you’re giving back. Genuinely hope people learning to trade recognise how rare this is. Please accept my gratitude and keep up the excellent work. May you be blessed abundantly with good karma! 👍🏼
I am glad that you like this. :) Thank you for watching!
This is very good! I would be interested on you covering the "Fixed ratio money management approach". I am not familiar with that approach and would like to learn more about it. Thank you!
I am taking note of this suggestion. :)
fantastic
Thank you!
One question, where can I see the average move per time frame?
Thank you so much. I like your channel, it is very easy to understand and fun to listen.
You can use the "Average True Range (ATR)" for that. Does this help?
I don't know if you know who Mark Douglas is. He teaches on the psychology side of trading. He's also written a couple of books. He mentioned an idea when taking profits to taking a third of your profits off the table when you are a third of the way to your profit target. Take another third when you are two thirds to your profit target and letting the other third run as long as it's moving in your favor. This way you can at least capture some profits in case the trade suddenly turns against you. Sounds like a pretty good strategy. What do you think of this idea?
I think that is great. There are a lot of great strateg out there. Just make sure that you focus on the one that works for you.
Hey Ron, I am developing my first TS. And I already have the 3 thirds plank it it :)
I would like to buy one of your trading books! Do you have any more?
Hi Cliff. You can still order them. Here is for The Wheel Stratetgy - www.rockwelltrading.com/the-wheel-options-strategy-book/
Here is for the PowerX Strategy Book - www.rockwelltrading.com/free/powerx-strategy-book/
Let me know if you got them! 😉
Do you use an rsI indicator and if so any tips for using it?
Yes, we use RSI. Watch this to learn what indicator we use th-cam.com/video/r6R6RwT9Yms/w-d-xo.html
Yes 👍
Awesome!
Great content. I would suggest that on your future videos to remove bell sounds everytime you make important points. The bell sounds is very high pitched so it hurt the ears. Important thing is not to change the bell sfx with a popping sound, which is also jarring to the ears.
Hi dungdungpolo, thanks for watching. And thanks for your feedback. Much appreciated. "See you" in the next video 👍
My current stop loss is set at 7% on every trade and my profit target is 15% or 1:2 ratio. Do you think setting a stop loss at 5% and keeping my profit target at 15% is a good strategy? That would give me a 1:3 ratio. Not sure if a 5% stop loss would be too tight. I would love to hear your thoughts. Thanks!
It's really hard to say. Exits should always be based on your entry rules. A 1:2 ratio (or better is ideal). But a 1:3 (or higher) might not be realistic for your set up...you'll need to do some testing to determine if it is. ;)
@@rockwelltradingservices Okay Thanks!
hi markus like you videos i am new to trade binary options i trade the 5 minute binary option on nadex do you have to have a trading plan to trade the 5 minute binary options would like to hear from you thank you hope to hear from you
Hi Mike, check out this playlist on trading Binary Options: th-cam.com/play/PLBa3sAx-Io2kTRfuI2Ap9PhKFrwd7pJIs.html
Let me know if this helps 👍
Trading forex is very profitable but its not as easy as it seems, you need the right knowledge and information to succeed. I used to loose more than I gained whenever I traded, it was hell for me but I didn't give up. I was so tired of losing on the market and not making any profit, l had to research and luckily i met an expert trader like Mr Markus. He helped me recover up to 5 times what i lost as a novice, i still trade with his signals up till today
You can reach him on what's App
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Your videos are great but please take the sound away when the number pops up the sound of the bell hurts the ears it's it's so much high.
Hi Dennis, thanks for the feedback. I'll let my video editor know 👍
@@rockwelltradingservices thanks keep going great work
Hi Markus, I'm a new subscriber and love your content. But in my opinion, the bell sound is overused and too loud. While I want to watch all your content, the overuse and volume of sound effects may dissuade me from doing so. If you would consider lowering both quantity and volume of sound effects for future videos it would be much appreciated. Other than that, thank you for the high-quality content. Best, K.
I am taking note of that. :) Thank you for the feedback.
Hi Markus, thank you so much. I learn a lot from your videos. I have just a request from you. I cannot understand clearly which timeframe to use i.e a swing trader or day trader. I vannot understand correctly the logical behing. I would appreciate if you make a video about this subject. Thanks again... Murathan
Hi Murathan I already have a video for that here is the link th-cam.com/video/zjOubJK60Pw/w-d-xo.html
Hey
Hey to you too! Thank you for watching!
How can i Practice trading on Nadex for free now
You can get a free demo account here: rockwelltrading.com/nadex
You have got your charts missed up. Your 5 minute chart is actually a daily or weekly chart, your weekly chart is a daily chart. Basic mistakes you wouldn't expect from a professional trader.