Dr. Gary Dayton - Building A Professional Trading Plan
It’s no secret – trading has a very high failure rate. So how can you be different? There are many factors involved, but one sure difference is that successful traders have a trading plan. Consider these words from Jason Alan Jankovsky when he compared the differences between traders who were successful and those who failed:
“The one thing that separated the net winner from the net loser, all things being equal, was that the net winner had a trading plan in addition to his other skills” Trading Rules That Work
Building A Professional Trading Plan
This is the recording of a webinar workshop Dr. Gary Dayton conducted recently in which he shows the traders all the details of creating a professional-level trading plan.
The attendees of the webinar workshop called this webinar workshop “fantastic,” “great stuff,” “provides a lot to think about and very actionable!”
In this workshop, Dr. Gary goes beyond the essentials and details a comprehensive review of what you need in your trading plan for successful trading.
All trading plans should incorporate both business and personal components that detail your personal method, money and risk management procedures, and the all-important psychological factors that can help make or break a trader. Dr. Gary will teach you how to specify and integrate these in your trading plan.
In this Workshop Webinar, he shows the traders
- How to create an effective Vision & Intention that leads to
- Setting trading goals that can be measured and achieved
- Details on how to develop an overarching trading philosophy that guides your trading and can be reflected in every trade you take
- Identifying the markets and time frames you trade in accordance with liquidity factors, your risk tolerance, and personal characteristics
- How to meaningfully identify your strong points as a trader, and also where you reach your personal limits, then creating specific, individual guidelines for your personal discipline
- How to create general trading guidelines for yourself so that you are making trades that have the highest odds given market conditions, including when to use leverage and when to avoid making trades
- How to apply the trader’s most important rule: Protect your Capital with sound money management and risk protection
- Proper position sizing, including an effective way to increase your position size to achieve your financial goals
- Keeping good records and generating reports so that you can effectively monitor and track your progress as a trader
- Develop important routines including your preparation for the next trading session.
- Developing a conceptual map of the market so that you have a clear sense of your trading environment
- A comprehensive format for specifying your trade setups, including keeping important information on your trade setups to help you improve over time.
- A method of reviewing your trades and your trading performance for continuous improvement
- Develop an emergency plan so you can be in control of unexpected events.
- Specifying and managing your overhead costs
- Creating a Professional Development so you can schedule and manage your ongoing learning
- And, more …
In this Webinar Workshop, you will also receive a 27-page Workbook complete with all the forms you need to create your professional trading plan. Unique to Dr. Gary’s approach to constructing a trading plan, you will also be taught how to summarize your plan into an Executive Summary which you can keep on your trading desk for easy reference!
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