There are several reasons to have a trading plan, but probably the biggest is that it defines what is supposed to be done, when, and how. Here are the basics to building a successful trading strategy.
How to Identify Targets for Your Trades
It’s not uncommon to hear traders talk about risk/reward ratios in their trading. Coming up with the risk is generally the easy bit, but the reward side of the ratio can be a bit harder. John Forman provides a fairly quick and easy solution.