Approach Trading like a Business

Some of the biggest problems new traders experience relate to emotions and poor discipline. However, these problems can easily be fixed if you approach trading like a business. 

Any new company must develop a business plan that defines their mission, vision and objectives. A business plan requires the company to identify its strengths, weaknesses, opportunities and threats. A plan defines strategies to meet its objectives and how progress will be measured. Progress will be monitored and strategies will be adjusted to meet defined goals. A business plan helps give the company direction for the future, how they are going to get there, and guidelines to help them recognize potential problems.

Traders can use the concept of a business plan to create a trading plan. The purpose of the meetup is to go over the components of a trading plan and give traders the tools they need to create a trading plan that is specific to them. A trading plan will give them structure needed to apply discipline. It will also document their trading rules in order to eliminate emotional decisions.

This meetup is recommended for all traders at any experience level. This will be a live meeting, but will be recorded as well.

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  • Ed

    Craig sounds like the meeting went well... To me most of the ideas you had planned for today were old school but I fully understand that we all have to start somewhere... You chose an excellent starting point to eliminate the stressful emotional decisions... My experience has also taught me the next hardest part of the plan to develop after when to call a loss quits is when to call a gain and say I am happy with it... Hope to meet you next month face to face...

    February 23, 2014

  • Gary S. K.

    Good meeting and good discussion, thanks Craig for an excellent presentation! I'll miss next month due to work travel. I'll look for April's event.

    February 23, 2014

  • Craig S.

    I felt the meetup went good. We had a lot of great participation throughout the meetup.

    February 23, 2014

  • John N.

    More detail and research than I expected.
    Good to network with other traders and investors. Looking forward to the next meetup.

    February 23, 2014

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