Had this from some time back on my gazillion files related to trading. Thought I'd toss it out here ... it's an MS Word doc. Potentially good ideas for daytrading the ES (and other tradables), but is a starting point for feedback and different ideas related to trading. In other words, looking for other's inputs on the contents and pro's and con's and each individual trader's own plan for Money Management, Trade Management and the Rationale and Psychology behind them - getting down to SPECIFICS of course!

What? ... no takers? Of course, different trading styles will require varied trade mgmt and money mgmt approaches that "fit." But was wanting to generate some discussion since this is one of the most important aspects of trading successfully, especially over time.

MonkeyMan

Thank you very much for this compressive money management plan I guess I just have to look into myself why I consistently keep violating my own rules. Below are the 2 sentences that fit me the most. From now on I will work harder to implement it

Quote;

It is a very straightforward plan once written down. But it’s hard to stick to.

. Finding good money management has more to do with looking inside yourself. Are you afraid you cannot stick to your basic rules? Then find some way, somehow to do it.

Ps; No wonder I keep losing money

What are your trade management and daily money management plans currently? And if you don't have anything laid down on paper, what would you put down based on your trading strategeries?

I have only a simple money management and risk management written plan but it looks like I’m a sour loser I can’t bear the idea that I lose in any game never the less in the stock market ,

this cause me to violate my own trading plan and risk management plan . So far I did not find a way to overcome this and implement my own plan. I hope to do it before I run out of money

To tell you the truth, I have my own money management plan, however I don't have money to manage them, lol. My only strategy nowadays is just try to earn as much money as it is even possible.

The trading psychology is basically the right mindset and the ability to think on your feet, remain disciplined and exercise control over your emotions even when the market is going against your expectations.

It is also very simple: it is to correctly distribute your capabilities and make quick decisions that are necessary in a given situation.