2.0. Learning to Profit from Futures Trading with an Unfair Advantage! Trading Essentials Framework Trader Business Plan

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Austin Lyons
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1 2.0 Learning to Profit from Futures Trading with an Unfair Advantage! Trading Essentials Framework

2 11 Steps in Developing a Successful Trading BUSINESS PLAN Every successful trader MUST have a written Trading Business Plan in order to keep disciplined and focused. Developing a thorough Trading Business Plan will help guide your trading. This is VERY IMPORTANT in order for you to become a successful long-term trader or investor! The following 11 Steps need to be incorporated in developing a successful Trading Business Plan : 1) You must have a Mission Statement. 2) You must spell out your trading/investing Goals and Objectives. 3) You must spell out your Trading/Investing Beliefs and Market Beliefs. 4) Spell out your exact Trading Strategies. 5) What are your Position Sizing Strategies? 6) What are your typical Psychological Problems in following your trading plan? 7) What are your Daily Trading Procedures? 8) Do you have an Education Plan to Help Improve Yourself on a continuing basis? 9) What is your Disaster Plan? 10) What is your Planned Income and Budget for Trading Expenses? 11) How do you Prevent Trading Mistakes and Avoid Repeating Them if they occur? Trading Concepts, Inc. 2

3 Mission Statement 1) Having a Mission Statement behind Your Trading Is Critical to Your Success as a Trader. You must have a Mission Statement. What s your real motivation behind your trading? Trading Concepts, Inc. 3

4 Trading Goals and Objectives 2) What Are Your Trading Goals and Objectives? You must spell out your trading/investing Goals and Objectives. You cannot get from A to B very easily unless you truly know where B is. Trading Concepts, Inc. 4

5 Trading Market and Beliefs 3) What Are Your Trading and Market Beliefs? You must spell out your Trading/Investing Beliefs and Market Beliefs. You cannot trade the market. You can only trade your beliefs about the market. Identify your beliefs about the market first. Trading Concepts, Inc. 5

6 Exact Trading Strategies 4) What Are Your Exact Trading Strategies? Spell out your exact Trading Strategies. How do you go about analyzing the market, and what are the key things you look at in your market analysis? What trade set-ups do you use before entry? What are your timing signals for market entry? What is your catastrophe stop loss? Where and when will you take profits? Will you use a trailing stop? Will you scale into the market? What exactly is your trade management system once you re in the trade? Trading Concepts, Inc. 6

7 Position Sizing Strategies 5) What Are Your Position Sizing Strategies? This is part of money management and is very important in reaching your trading goals and objectives in terms of profitability. If you properly understand and employ this very important concept, you will be way ahead of many, if not most, professional traders those who cannot practice position sizing methods. Trading Concepts, Inc. 7

8 Position Sizing Strategies 6) What Are Your Typical Psychological Problems in Following Your Trading Plan? What is your plan for psychological management for dealing with these problems? 1) What do you think your trading personality is? 2) What do you think your strengths and challenges are regarding your trading personality? 3) What are your beliefs about yourself in regards to trading? 4) What are your limiting beliefs about yourself in regards to your trading? Trading Concepts, Inc. 8

9 Daily Trading Procedures 7) What Are Your Daily Trading Procedures? What should you be doing on a daily basis not only to become organized but methodical in everything you do as a trader? 1) Do you need a pre-start-of-the-day self-assessment? What would that include? How will you do it? 2) How will you make sure that you do what you need to do today? This week? 3) What will you do on a daily basis (weekly basis) to prevent making trading mistakes? 4) What will you do on a daily basis (weekly and monthly basis) to keep track of your trades and your thoughts about your trading? Trading Concepts, Inc. 9

10 Education Plan 8) What Is Your Education Plan? Do you have an Education Plan to Help Improve Yourself on a continuous basis? If not, you should have one. Like anything else in life, you need to be working on yourself continually to become better and better. What do you need to know to improve your trading in terms of both skills and knowledge? What do you need to improve about yourself to improve your trading performance? How will you get that information? Trading Concepts, Inc. 10

11 Disaster Plan 9) What Is Your Disaster Plan? What can go wrong, and how will you deal with each item? You might find that such problems generally fall into five broad categories: 1) Personal emergencies. 2) Equipment and data problems. 3) Major life changes. 4) Discipline and/or psychological problems. 5) Broker problems. Trading Concepts, Inc. 11

12 Planned Income and Budget for Trading Expenses 10) What Is Your Planned Income and Budget for Trading Expenses? This is pretty simple and straightforward; write down everything you can think of and try to be as realistic as possible. 1) What is it going to cost to run your trading business? 2) What does equipment cost every month? 3) What does internet connectivity cost every month? 4) What do you pay for data? 5) What do you pay for education, if any? 6) What do you pay for subscriptions, if any? 7) What else is part of your regular monthly outflow? Do you pay Rent? (Probably not if you work from home) Trading Concepts, Inc. 12

13 Prevent Trading Mistakes and Avoid Repeating Them 11) How to Prevent Trading Mistakes and Avoid Repeating Them. Really sit back and think about this and write down any and all mistakes that you might make during your trading. Come up with a solution to each potential mistake that you might make so you don t allow that to happen. Trading Concepts, Inc. 13

14 11 Steps in Developing a Successful Trading BUSINESS PLAN Alright, there you have it what I truly believe is absolutely necessary for you to develop your own personal successful Trading Business Plan. There is no doubt that once you take the time to complete your Trading Business Plan, it will put you ahead of 99% of all other traders out there who are trying to become successful! Ok, let me briefly summarize once again the 11 steps to developing your own Trading Business Plan : 1) You must have a Mission Statement. 2) You must spell out your trading/investing Goals and Objectives. 3) You must spell out your Trading/Investing Beliefs and Market Beliefs. 4) Spell out your exact Trading Strategies. 5) What are your Position Sizing Strategies? 6) What are your typical Psychological Problems in following your trading plan? 7) What are your Daily Trading Procedures? 8) Do you have an Education Plan to Help Improve Yourself on a continuous basis? 9) What is your Disaster Plan? 10) What is your Planned Income and Budget for Trading Expenses? 11) How do you Prevent Trading Mistakes and Avoid Repeating Them if they occur? 14

15 No claim is made by the Trading Concepts, Inc. that the futures trading strategies shown here will result in profits and will not result in losses. Futures trading may not be suitable for all recipients of this Training Program. All comments, trading strategies, techniques, concepts and methods shown within our Course are not and should not be construed as an offer to buy or sell futures contracts they are opinions based on market observation and years of experience. Therefore, the thoughts expressed are not guaranteed to produce profits in any way. All opinions are subject to change without notice. Each futures trader/investor is responsible for his/her own actions, if any. Your purchase of the Trading Concepts Comprehensive EMINI SUCCESS FORMULA 2.0 Mentoring Program constitutes your agreement to this disclaimer and exempts Trading Concepts from any liability or litigation. Trading Concepts, Inc. 15

2.0. Learning to Profit from Futures Trading with an Unfair Advantage! Trading Essentials Framework Steps of a Successful Trader

2.0. Learning to Profit from Futures Trading with an Unfair Advantage! Trading Essentials Framework Steps of a Successful Trader 2.0 Learning to Profit from Futures Trading with an Unfair Advantage! Trading Essentials Framework Steps To Help You Become a Successful Trader 1) Learn from Role Models (Mentors) 2) Establish Good Habits