📝📉 Blew my first $600 because I traded on impulse, not a plan. Don't be me. A simple futures trading plan keeps you disciplined. It has five pillars:
1. **Entry Criteria**: *Exactly* what triggers your trade. E.g., "BTC breaks $75,000 and retests as support."
2. **Stop Level**: Your absolute exit point if wrong. "Stop at $74,800."
3. **Target**: Where you take profit. "Target $76,500, partial at $76,000."
4. **Position Size**: Risk $X per trade. "Risk $10 on a $1000 account (0.1% of capital)."
5. **Max Daily Loss**: Your hard daily stop. "Max 2 losing trades or $20 daily loss."
Writing these down *before* you even look at the charts prevents emotional chasing or revenge trading. It's your shield against impulsive destruction. Today's challenge: before your next trade, write down *your*...
1. **Entry Criteria**: *Exactly* what triggers your trade. E.g., "BTC breaks $75,000 and retests as support."
2. **Stop Level**: Your absolute exit point if wrong. "Stop at $74,800."
3. **Target**: Where you take profit. "Target $76,500, partial at $76,000."
4. **Position Size**: Risk $X per trade. "Risk $10 on a $1000 account (0.1% of capital)."
5. **Max Daily Loss**: Your hard daily stop. "Max 2 losing trades or $20 daily loss."
Writing these down *before* you even look at the charts prevents emotional chasing or revenge trading. It's your shield against impulsive destruction. Today's challenge: before your next trade, write down *your*...