Justine Pollard discusses your roadmap to successful trading.

Your roadmap in the market
Traders, especially successful ones, can’t stress enough that a trading plan is your roadmap in the market. Without a map you can get lost. Nevertheless, some people think a trading plan is superfluous. Despite the statistics, there are still many traders and investors who venture into the business of trading without getting organized through a trading plan.
That group of traders and investors will belong to the 80 per cent who fail to make money in the markets. An educated guess is that a further 15 per cent will garner mediocre results. The final five per cent, who make the greatest profits from trading, will go on advocating, like prophets in the desert, that traders need to develop a trading plan...

Excerpted from an article originally published in the Jan/Feb 2011 issue of YourTradingEdge magazine. All rights reserved. © Copyright 2011, Your Media Edge Pty Ltd.
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