| We are standing on the threshold of another new | | | | you will become an independent trader in 2010. This |
| year. Buy and hold style of stock investing may be | | | | means that you will make your independent |
| dead. To invest successfully in today's markets, you | | | | judgement about what stocks to invest in. You are |
| need to have a trading plan. You should start your | | | | not going to watch CNBC or Bloomberg and buy on |
| 2010 with a trading plan that can give you 7 figures. | | | | someone's recommendation. Well, you will hear what |
| What you need is a new trading plan for 2010! Call it | | | | others say but you will make your own judgement. |
| Trading Plan 2010. What worked in 2009, may not | | | | You will learn those chart patterns that can help you |
| work in 2010. You need to take a fresh look at your | | | | in judging what is the best time to enter the market |
| performance in 2009. Start the new trading plan by | | | | and what is the best time to get out of the market. |
| taking a fresh look at what type of an investor or | | | | Your motto should be you will only trade when you |
| for that matter trader you really are. Try to | | | | are dead sure that you are about to make a winning |
| introspect and ask what type of an investor you are. | | | | trade. No more confused and half hearted trades. |
| Are you an investor or a trader? Are you a long | | | | You are going to stay out of the market if you are |
| term investor that believes in buy and hold or you | | | | not sure! |
| are a short term investor who wants to make a | | | | You need to make it clear to yourself that you are |
| quick killing in the market. Ask these questions | | | | not trading the stock market, you are only trading |
| seriously. Determine the best investment time horizon | | | | the stocks. This means that the market sentiment is |
| that has worked for you in the past and you believe | | | | irrelevant to you. Once you have identified a stock, |
| will work in the future. | | | | think what will be the best strategy. Should you go |
| Start writing your trading plan. Take out a piece of | | | | long, for how long? Should you go short and for how |
| paper and pencil and start writing step by step what | | | | long? Make a trading plan that does not depend on |
| are your goals for 2010. Start by making a clear | | | | the market direction. This trading plan should work |
| financial goal for yourself. Do you want a 7 figure in | | | | for both the bulls and the bears. |
| 2010. Be clear! What are the financial resources at | | | | The last and the most important resolution that you |
| your disposal. Be realistic! What type of trading | | | | should make for 2010 is that you will never trade |
| strategies are best suited to help you achieve your | | | | without first putting the stops. You will only buy at |
| financial goals in 2010. Down down the details in a | | | | the support or withing 5-10% of the support and sell |
| neat and clear format. Ponder over them, rethink and | | | | at the resistance or withing 5-10% of the resistance. |
| start again. This trading plan should be your blueprint | | | | You will learn those chart patterns that can tell with |
| of success in 2010! | | | | deadly accuracy when the market is at it's lowest |
| Make an important resolution in the trading plan that | | | | and your downside risk is minimal. |