Weekly Perspectives - Trading Essentials: Developing A Trading Business Financial Plan

Trading Essentials:  Developing A Trading Business Financial Plan

 

With only a couple of days remaining before this month's Meetup we will keep this week’s lesson brief.

Now most of us have heard about the importance of a trading plan, and in this month’s Meetup trader Jeff Murphy will talk about how a trading plan can improve your trading as well as the key elements necessary to craft a successful trading plan.

Now let ask you a question, how many of you have heard about or have fleshed out a trading business plan?

Simply put, how are you accounting for the revenues and expenses of your trading business?

You see this is but one simple aspect that many traders neglect.

That is they fail to run their trading operation as a business.

If you were to look at investing any traditional brick and mortar business they would be quick to provide a bevy of financial documents.

Most traders, on the other hand, are remiss to even have something as simple as a business...

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Weekly Perspectives - Trading Essentials: 🔭 Start With A Vision 🔭

Trading Essentials: Lesson Of The Week: Start With A Vision


This month’s trading theme is "Trading Essentials" and this week’s lesson comes from co-organizer Etienne Crete, who will be presenting at this month's meetup.
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We all come into trading with a certain outcome we want to achieve. That's a vision.

When I think of trading essentials, the first thing that comes to my mind are activities to support trading.
These have been essential for me to grow and are needed to get you to where you want to be (i.e. your vision).

That being said, at the next Meetup I'll be discussing in-depth activities that I and a great number of traders do before and after trading.

To give you a snapshot, I'm talking about implementing:

  • Goal Setting
  • Asking Questions
  • The Power of a Checklist
  • Mastering Critical Trading Skills
  • Refocusing
  • And Much More

... so you can consistently move toward your vision and reach the goals you set up along the way.

Your assignment for the week is to ...

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Weekly Perspectives - Trading Essentials: Choosing The Right Broker and Charting Platform

Trading Essentials: Lesson Of The Week: Choosing The Right Broker and Charting Platform

This month’s trading theme is "Trading Essentials" and in this week’s lesson we’re going to cover the considerations for choosing the right broker and charting platform.

Choosing the right broker and charting software is probably one of the most important decisions you can make when you first start trading.

In this short video we will discuss the 5 main things you want to consider when deciding on a broker platform.

In summary they are:

  • Price
  • Margin requirements
  • Speed
  • Service & Support
  • Reliability

As it pertains to charting platforms, consider the following criteria:

  • Features
  • Market data access
  • Price
  • Hardware requirements
  • Stability
  • Portability

Btw I often get asked which brokers and charting platforms I would recommend.
The answer is always it depends.

For instance because I am primarily trade futures and NA equities intraday and swing trade stocks, I personally use ...

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