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PureBytes Links
Trading Reference Links
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1. Trading Journal.
Many trading experts state that a trader needs to maintain, review, study
his/her own trading journal, implying that without such, a trader will
lose...because s/he will not learn from his/her mistakes.
Curious, is it not, that none of the experts provide an example of even a
single good trading journal? There is not a single good one among my 400+
trading books and 100+ trading videos, nor years of trading magazine issues,
nor at any trading Expo's or seminars or local trading group meetings that
I've attended.
Occasionally I correspond with very well known trading book authors and
seminar providers. I challenge some, politely, to provide me with just one
decent design or example. None have.
The best trading journal I've seen, is at the website of another trader, who
has been trading only about 2 years, if memory serves. Isn't that also odd,
that a non-expert can put good thought into this, not only design but also
use and bravely post his trading journal for all to see - yet not one expert
can do so?
2. Trading plans.
Can't win without a good trading plan...according to many trading experts -
none of whom (see trading journal comments above) can show even one good
example.
What constitutes a good trading plan?
Anyone here ever seen one, other than brief outlines in books about what one
should contain?
Is it a portion of a full-blown business plan? Is a full business plan an
important critical success factor? If so, what is a full business plan for a
trader?
There are plenty of books at Amazon and elsewhere about business plans, and
many good examples...but is one really necessary? Is creating and
maintaining a good business plan, worth the considerable effort that it
takes for a trader? If so, why?
Back to just the trading plan portion itself. What is it? Just a list of
trading rules, of do's and don't's?
Inquiring trading minds want to know...so why can no trading experts provide
good designs and good examples?
If anyone herein knows of a book, seminar, tape, web site, etc., where there
is a good trading plan, design, please share it with us. If you have a good
one of your own, can you at least share the design of it with us, if not
much of the plan itself?
Vince Heiker
Flower Mound, Texas
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