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10 Steps to Building a Winning Trading Plan

10 Steps to Building a Winning Trading Plan

There is one elegant formula in the materials: “fail to plan = plan to fail”, which is understood as “not to plan anything, it means to plan the failure”. No one starts a business without a business plan, but why does the majority start trading without a plan?

Trade is an occupation that requires constant work on yourself. If in most spheres of life you can remain yourself to be successful, then the market is not going to adapt to anyone.

The market uses the darkest sides of the personality to turn you into fuel. Therefore, think about the main weapon of the trader – a trading plan.

While writing a trading plan, you need to remember one thing – you create it in order to comply. This is the set of rules that must be observed in each situation and never deviate.

This is the set of rules that must be observed in each situation and never deviate.

Setting goals

From the very beginning, accept the fact that the safe market trading plan is not a static thing. As you develop yourself as a trader and improve your skills, the plan will also develop.

You should not look for the perfect plan from other people, it does not exist. Each trader is unique, but there are generally accepted elements that are worth taking into their plan.

Inspection and analysis of the sale point

First, conduct an external examination and analysis of the point of sale. Go to the point and greet the staff and decision makers. Then conduct internal inspection and analysis of sale point, if necessary, adjust the purpose of the visit. Conduct a preliminary survey of sellers and together with the staff of the point take off the leftovers.

Skill assessment

Are you ready to trade? Do you have a proven system you are sure of? Are you ready to follow your rules without hesitation? Understand that you can work by your own rules; the market cannot impose anything on you until you give up the slack. Be a pro and take your profits from a crowd that does not have a winning plan.

Determine how to trade

There are many ways to trade in financial markets, such as scalping, day trading, position trading and more. Some choose one option, others successfully use several. Whatever choice you make, the most important thing is to have an understanding in advance of possible scenarios and actions to be taken. Write them in the trade plan.

Define your market

Register in what market, what tools do you want to trade. Consider that the main movements occur at the same time, be on the market at this time.

Increase your level of knowledge in your tools, see what influences them and take this information into account in trade.

Define your trading system

Trading system – a number of rules that will help bring trade to automatism. Freedom of choice in the market will not give you an advantage, so write it in detail.

Write in which platform the analysis will take place, and in which one – the trading, what additional settings are required. It is a good idea to read trading plan template capstone help, in order to be aware of if your plan is rendered successfully.

Stop loss

This is the thing that, even before entering a trade, will help you determine what potential trade has, as well as a stop loss keeps you trading in the long term. At the same time, the stop may be different for each instrument, depending on its volatility, so it is easier to install it as a percentage of your depot.

Management of risks

Perhaps the most important part of the plan. With the right risk management, you can toss up a coin and stay with your money.

It is necessary to prescribe how much you are willing to risk in each transaction, while you can make it dynamic, depending on how good the transaction is. It is also possible to come from your form – maybe you are now at the peak of your form and have the opportunity to earn a little more.

Way to manage open positions

Greed will always prevent you from closing a profitable position when it is clear that the trend has stopped. Fear and hope will prevent you from closing an unprofitable position.

In order for emotions not to interfere, you need to have a simple strategy to exit.

Keep a trade journal

An important point is also neglected. The magazine is a tool for training and analyzing your activities. Keeping a simple diary will allow you to avoid repeated mistakes, or vice versa will allow you to develop a new trading advantage.

It may seem strange, but the breaks are not less important than the intervals of activity. During the rest you relax, you charge with new forces. You can reflect on your trading and make your trading plan even better.

No one will give you guarantees that trade will bring you money. The chances of success depend on your skill, control system, discipline and much more. But as they say, you can lose the battle, but win the war. And to win the war, you need a good plan that will make you consistently successful and allow you to survive in the market.

Melissa Cartew is a writer, who enjoys writing on diverse topics. She has education in the realm of marketing and is highly aware of the trade. Her hobbies also include traveling, reading about promotions and psychology.

ProMat Day Two: Disruptive Technology and Game-Changing Strategies

Day two of this year’s ProMat Trade Show kicked-off with exhibitors showcasing the industry’s top innovative solutions and another full day of keynote speakers and education seminars – many of which were at full capacity.

Among today’s featured speakers included Raymond Corporation‘s Stacey Patch, Dale Dunn, and Derrick Miller speaking on the importance of optimization efforts before implementing automation into operations. In order for a company to fully grasp the benefits of automation, a deep understanding of potential efficiency must come first. The process of automation should start with a focal point on optimization before investment. Additionally, the company made it clear that before fully replacing, tech and automation will maximize human activity and support operations.

Swisslog Logistics Automation’s made an appearance on stage as well, informing attendees of ways to creating a competitive weapon out of supply chain. John Dillon Vice President, E-Commerce/Retail and David Schwebel Vice President, Business Development and Market Intelligence identified the industry’s biggest challenge of risk and how to navigate through it with strategic, forward-thinking approaches, as seen with their container-based warehousing system providing increased efficiencies and flexibility.

Day three will continue exploring the world of leading logistics initiatives, product innovations, and industry education on topics including removing barriers for improvement, addressing the labor shortage, and smarter packaging technology options.

3 Steps Companies Can Take To Improve Mental Health In The Workplace

Sick days among workers are commonly associated with physical ailments, but mental health issues also account for frequent absences. A report from the 2018 Mental Health in the Workplace Summit showed that more people miss work due to stress and anxiety than for physical illness or injury.
Dealing with mental health can be a delicate issue for both employers and employees. Some think it carries a stigma, thus employees may attempt to hide their problem. A survey by the American Psychological Association found that less than half of American adult workers felt their companies supported the well-being of their employees.
Yet more companies, cognizant of productivity and cost issues associated with employee absences, are starting to implement mental health initiatives as part of their workplace wellness programs.
“Employees try to hide what they’re going through because they fear the negative consequences of being discovered. And these fears are justified,” says Ken Dolan-Del Vecchio (www.greengateleadership.com), formerly Vice President, Health and Wellness, at Prudential and founder of GreenGate Leadership®. “Many otherwise capable managers become very uncomfortable when they hear one of their team members mention words like stress, anxiety, and depression.
 “Forward-thinking employers are implementing initiatives that break stigma and improve access to effective care. They recognize the role of leaders at all levels in creating positive, respectful, health-promoting work environments. As has often been said, culture trumps strategy every time. An employer can have all the right policies in place, but it’s the culture that either brings these to life or makes them a joke.”
Dolan-Del Vecchio’s tips for employers:
Break the stigma. Studies indicate one in five American adults experience a form of mental illness. “Like most health conditions, these are most effectively treated when identified early,” Dolan-Del Vecchio says. “Stigma causes many who suffer to deny their need for care and, therefore, delay seeking it. Senior execs are in the best position to break the stigma. They can share their personal story if they live with a mental health condition, talk about how they have supported others, and sincerely encourage their employees to get the care they deserve.”
Improve access to effective care. “Hold your benefits provider system accountable for effective care delivery,” Dolan-Del Vecchio says. “Take a searching and fearless look at how well your organization’s mental health benefits actually serve those in need. You do that by creating an anonymous feedback mechanism for your employees and their family members. Sadly, I can almost guarantee that the results will show need for significant improvement.”
Train leaders. “Stress,” Dolan-Del Vecchio says, “is the enemy of health and sustained productivity. More than any other factor, our immediate supervisor creates the culture of our workplace. When leaders at every organizational level treat those who report to them with an attitude of caring and respect, including respect for initiative, autonomy, diversity, and reasonable limits when it comes to productivity, the best organizational results will follow.”
“It’s in everyone’s best interest for employers to fight the stigma linked to mental health issues, ensure medical benefit partners are delivering on their promises, and make sure leaders of people are up to the task,” Dolan-Del Vecchio says.
About Ken Dolan-Del Vecchio
Ken Dolan-Del Vecchio (www.greengateleadership.com) is an author, speaker, family therapist, and leadership and life skills consultant. His books include Simple Habits of Exceptional (But Not Perfect) ParentsThe Pet Loss Companion: Healing Advice From Family Therapists Who Lead Pet Loss Groups andMaking Love: Playing Power: Men, Women, and the Rewards of Intimate Justice. Ken founded GreenGate Leadership® after retiring from his role as Vice President, Health and Wellness, at Prudential, where he was responsible for behavioral health services for the company’s 20,000 U.S. Employees. Ken’s team’s work led Prudential to receive the American Psychological Association’s 2017 Organizational Excellence Award. Ken is a monthly NBC TV affiliate on-air guest and has been featured in The Wall Street Journal, Reuters, Fast Company, Bloomberg, Ignites, Entrepreneur, Fox Business News, The Chicago Tribune, Inc. Magazine, Working Mother, HR Executive and other media. In 2016 Ken was named Corporate Leader of the Year by the National Alliance of Mental Illness’ New York City-metro chapter.

 

Series C Attracts $44 Million Investment

Feature management platform, LaunchDarkly, announced they will invest big bucks along with Redpoint, Vertex Ventures, DFJ, and Uncork Capital. The company confirmed the investment will support company initiatives in risk management while increasing efficiencies.

“Our goal is to help product development teams worldwide, from small teams to huge enterprises, to keep up with the speed of innovation while reducing risk,” said Edith Harbaugh, CEO and co-founder of LaunchDarkly. “We believe the future is built on software, and the additional capital will allow us to further impact the world of feature management and meet the needs of our customers in delivering fast results and excellence to their own customers.”

“In the past year the LaunchDarkly platform has evolved both in scale (we now see over 200 billion feature flag requests per day) and capability– we’ve become a key piece of the puzzle for software teams practicing continuous delivery,” said John Kodumal, CTO and co-founder of LaunchDarkly. “This latest funding will help us scale the platform even further to meet the growing demand we’re seeing in the market and build new functionality to help our customers deliver better software experiences to their customers.”

This announcement closely  follows the company’s confirmation of the hosting of the upcoming April  Trajectory conference for software development professionals. The conference will be held in Oakland, California from April 8-9.

“The sheer speed of innovation today makes it more difficult than ever for enterprises to release product changes quickly and reliably,” said Ethan Kurzweil, partner at Bessemer Venture Partners. “Having invested in developer platform companies for nearly a decade, it was instantly clear that LaunchDarkly has the product and market vision to be the central platform for feature management. We are extremely excited to partner with Edith and the rest of the talented team at LaunchDarkly!”

“The LaunchDarkly platform enabled BMW to go from 0-60 in one Agile Release Cycle”,  said Chuck Medhurst, President & GM at BMW Technology. “The ability for BMW to test, develop and deploy variable feature sets across our premium brands, markets and platforms results in delivering the optimal value to our customers!”

For more information on the upcoming conference, visit:  https://trajectoryconf.com.

 

Source: LaunchDarkly

 

Exporters to Russia Face Increased Payment Risks

Los Angeles, CA -Russia is currently experiencing a slowdown in economic growth, and the situation is most likely to deteriorate further as a result of the newly imposed sanctions, according to a new country analysis report issued by The Atradius Group, the Netherlands-based global risk management firm.

Atradius is observing an impact across all sectors in the form of decreasing domestic demand, a weaker ruble exchange rate, a rise in inflation, limited access to external financing and international capital outflow.

Exporters to Russia “could experience an increase in payment delays and defaults with some sectors expected to be more affected than others,” the report said.

Russian sanctions on imports of food and agricultural products “will hit the food sector, in particular the fish, meat and dairy subsectors, with a negative impact on the whole value chain, while sectors dependent on consumer demand, such as the consumer durables and consumer electronics sectors are also expected to see further slowdown,” it said.

In addition, the report said, US and EU sanctions on financing are expected to put a toll on Russian businesses dependent on financing.

The oil and gas industry “is still performing well thanks to high commodity prices, but businesses in other strategic sectors such as metals and mining are suffering, and may not be able to refinance their large debts. While the Russian government is ready to provide financial support, its reserves, though ample, are limited.”

Some sectors, however, such as the pharmaceuticals sector, “are expected to be less impacted and local agricultural production could even benefit from restrictions on food imports,” the report said.

“In case of price controls, however, business profits may be hit with higher costs that cannot be transferred to consumers in such cases,” the report concluded.

09/23/2014