A trading plan is a set of rules you follow before, during and after every trade.
Markets & sessionsWhat and when you trade
SetupsExact entry conditions with screenshots
Risk rulesRisk per trade, daily stop, max trades
ExitsStop, target, trailing rules
News rulesWhat you do around big events
ReviewWeekly journal check-up
Example plan (short version)
- Markets: EUR/USD, GBP/USD, gold.
- Session: London open to New York lunch.
- Setup: pullback to a 4-hour level in the daily trend direction.
- Trigger: 1-hour engulfing or break of structure.
- Risk: 1% per trade, max 2 trades a day, stop for the day at −2%.
- Exits: half at 2R, rest trailed behind 1-hour swings.
- News: flat 15 minutes before high-impact events.
Wick says
A plan turns trading from "what do I feel like doing?" into "what does the plan say?" Boring? Yes. Profitable? Much more likely.
Key takeaways
- If it isn't written, it isn't a rule.
- Cover markets, setups, risk, exits, news and review.
- Update the plan from your journal, not your mood.