I am currently re-writing my trading plan. I’m not trading with real money yet btw i’m just trying things with demo accounts to get some experience and setup my strategies.
The trading plan I had contained 4 strategies all with specific rules.
A new orientation I’d like to try is to use some guidelines instead of rules. I’d mix both fundamental and technical stuff.
For example I’d have a list of indicators I’d look at and I’d describe where they have to be so I consider them signals. I’d do the same for candlestick patterns, etc.
For fundamentals I’d have a section where I describe what reports I have to look at, what are the important metrics and where they have to be. I would update that section as I get more experience.
So bottom line I want to build myself a reference guide instead of a strict rulebook.
Does that make any sense or I’m driving right to the wall?
Is it better to commit to specific rules?