Trading plan must have complete sets of rules, which cover each aspect of trader’s trading.
What instrument (forex, shares, financial spread betting, options, CFD and so on) you would like to trade & why? I trade stock & forex not just because I like forex or stock market I have an definite reasons for trading all those, you have to know why you trade an individual stock and not index?
What is the best time to trade and why? (Suppose for the forex London open is a best time for trading)
How will you choose stock or currency pair, which may give you best result? (I have twelve specific rules in order to select stock, which helps me much to avoid over day trading)
Maximum percentage that you can risk on every trade. This is very important for the new trader to know risk management and I follow golden rules in order to manage my own risk.
How many lots or share will you trade for each trade? I follow 2 different rules in order to know my own position size.
Which time of frames that you may look at. The time frame is important feature to any of the trading. I follow five and fifteen minutes chart for the equity and any of the good set-up can come in any time-frame however the point of exit will be little different in various time frame.
The trading plan may give you clear-cut entry strategy, where you should enter, & why. My-trading strategy has eight specific entries. To increase the success rate in this kind of trade, you must be aware of different strategies. So here are few strategies, which will help you maximize benefits from CFD: Thus in order to get good result in CFD trading, it is good to step in right mode.
Check out for longevity, more years broker & his company is around; more chances it is legitimate & viable source of investing in an advice. Be very careful where you are placing the money & it is important that you select good broker online that is legitimate and has needs of all your finances in heart.
I think exit is a key to the successful trading policy. Exit strategy can show you where you can exit & why. I make use of 3 diverse exit strategies.