🤔📝 I blew $5,400 on leveraged futures because I forgot to live by a plan. After two years rebuilding, I teach you to avoid my mistakes. A simple futures trading plan isn't optional; it's essential for discipline.
Here are five parts: First, your **entry criteria** – what exact price action or signals trigger your trade? Don't guess. Second, your **stop level** – a specific price where you exit if you're wrong. Never just 'hope'. Third, your **target** – a realistic profit zone; maybe partial take profits. Fourth, **position size** – how many contracts, based on your risk per trade (e.g., 1% of capital). Finally, your **max daily loss** – hit it, walk away. Mine's usually 1.5% total.
Writing this down *before* opening your exchange prevents emotional decisions. Trust me, chasing trades...
Here are five parts: First, your **entry criteria** – what exact price action or signals trigger your trade? Don't guess. Second, your **stop level** – a specific price where you exit if you're wrong. Never just 'hope'. Third, your **target** – a realistic profit zone; maybe partial take profits. Fourth, **position size** – how many contracts, based on your risk per trade (e.g., 1% of capital). Finally, your **max daily loss** – hit it, walk away. Mine's usually 1.5% total.
Writing this down *before* opening your exchange prevents emotional decisions. Trust me, chasing trades...