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Are you trading based on thorough research and planning … or not so much? Sometimes, trading can feel like you’re trying to get around without a map in uncharted wilderness. As a trader, you might not feel like you have a sense of direction, and there are all sorts of potential pitfalls and dangers that you How can you shake those feelings and find your way? Simple: make a trading plan, and stick to it. IT’S EASIER THAN YOU PROBABLY THINK. A trading plan is a self-made map that you make to plan out a trade before you execute. It doesn’t take much time to make a trading plan, but it can offer some serious long-term benefits. That’s why so many StocksToTrade Here, I’ll cover what trading plans are and how they can help your trading career, then share how you can create your own trading plan in A trading plan is an outline of any given trade. It defines why you’re making the trade, and when and how it will be executed. Your trading plan takes into account your own personal trading style, risk tolerance level, and expectations for any given trade. chart setup mandates. Just be sure you don’t make things too complicated or you’ll struggle to follow your plan. MAKE YOUR OWN Why? Because when you follow your trading plan, you’ll be better able to keep a level head while trading, thus potentially minimizing mistakes and losses. That’s always a good thing. Image ID: 534465133 created by g-stockstudio – Shutterstock.com Listen, trading plans aren’t se*y. For that reason, many traders are quick to dismiss them as unnecessary. Instead, they choose to focus on the more exciting aspects of a trade, like hot stocks, chart spikes, news, and catalysts. But this is a big mistake! While those factors can certainly help in choosing the best stocks to trade, for the best results, they must be combined with a plan to help deliver the most reliable results.   Strictly speaking, it’s not necessary to have a trading plan to make a trade … but if you want to follow the trajectory of successful