Who this is for — Anyone who wants continuity of results and does not accept each day starting from zero with improvised rules.
In plain terms — The trading plan is your operational manual: it decides in advance what you do, what you avoid, and how much you can lose before stopping.
Bronze prerequisite — Before this lesson: trading-journal, discipline, capital, percentage-risk. See bronze-path.
What it must actually contain
An effective plan specifies market-to-trade, hours, allowed setups, risk limits, and review routine.
It must be concrete: a few clear rules beat many vague ones.
The plan also includes psychological and logistical constraints, such as max trades and mandatory pauses.
Every rule must be verifiable at day end with a yes/no.
How to keep it alive without overcomplicating
The plan is not static: it updates with data, not with the day's emotions.
If you notice recurring errors, introduce one small, measurable change for the following month.
The goal is execution stability: reduce dispersion and protect capital when the market changes regime.
Example — Intraday plan: trade only US indices during Europe/US overlap, maximum daily risk 1.5%, maximum 3 trades, mandatory operational stop after two procedural errors. Simple rules, applicable under stress.
Card
- What it is: written set of technical and risk rules.
- When to use it: before the session and in weekly review.
- Typical mistake: having a theoretical plan that does not guide real decisions.
Silver path — Module: Trading plan. Part of silver-path.