Your Trading Plan Shouldn’t be Set in Stone
A good trading plan is not set in stone, a good trading plan allows a trader to adapt & change course if the markets conditions change!
On this week’s Ninja Trader Charting Edge, we touch on the E-mini S&P 500 just like last week and whether I think it’s bullish, bearish, or looking like we’re going to consolidate.
On the E-mini S&P 500 the conditions seem to be favorable for selling rallies in the short term, I’ll share what I’m looking at to determine whether or not those conditions are met and the reasons I would change my bias adapting to the changing conditions.
We do the same for E-mini NASDAQ 100 & E-mini Russell 2000 and how correlations between them are part of the conditions that determine my trading plan.
To finish off, I’ll share my final thoughts with a popular tweet between the community on why time and experience are the best teachers about trading. If you’re serious about trading as a career you have to think long term, if you take yourself our of the game too early you’ll miss out on the best teachers trading has to offer!