Trading plan and its features

Trading Discussion
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I’m sure any of you have at least been faced with this word: “Trading plan”. Also, I’m sure these sentences are familiar: Have a clear trading plan", “stick to your trading plan”, etc.
Now tell me about your trading plan. Is it clear? how come? Can you stick to it? how?

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My trading process over several years ensures my analytic trend strategy follows the same positive probability path for every trade. I stick with it because it’s profitable.

Perseverance.
Discipline.
Patience
Zen mindset.
Risk exposure management.
Continual learning from both winning and losing trades.

It’s easy, but not simple.

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Trading plan and its features

My trading plan is of such simplicity I am ashamed to post it here but nonetheless here are a few of its features…focus on only the USD/JPY pair, use one lot size which is solely based on the account balance, no stop loss used, focus placed on the result and not the process, do not try to get more than 3 pips per trade.

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My trading plan is still a bit all over the place. :confused: But I’m also working on creating a clearer plan and routine to make everything easier and more easy to follow. :pray:

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How do you imply Zen mindset into trading concept? How that help you?

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Well, if it works and it is profitable then who cares whether it is simple or complicated.

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The only control over what the markets throws at you is your risk exposure. That understanding is key.

A Zen mindset is detached from the emotional challenges of what is happening to your trades. Otherwise we’d all be nervous wrecks.

Therefore, do not nurse losing trades, which otherwise causes pain, just close them as there is always another waiting. And do not close winning trades owing to fear of missing out - just move the S/L up to breakeven, and if needed scalp a 30-50% profit.

Hope that helps.

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You should see the flogging I get here for my strategy at times, lol.

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Interesting! Being able to detach from some emotions or states is essential and trading aside, I need Zen in daily life. I’m getting overwhelmed and stressed out…
let me know where I can learn more about Zen mindset. Thanks

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The Zen Trader by Peter Castle is an excellent book to read. Recommended…

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Is it basic? Because I have no idea about it and I want some basic material so I can get familiar with the whole Zen notions.