Four steps to becoming a CPT

If I have any chance of becoming a consistently profitable trader then I really need to start working on 4 main areas;

Planning : I need to develop a consistent approach to evaluating markets and then be ruthless in my final stock selection.  Trading average to good set-ups is not ok at this stage of my development.  Instead I need to laser in on only the very best opportunities.

Execution : A great plan can be royally f*cked up by poor execution.  I need to develop an approach to execution that puts me in more profitable positions and doesn’t have me chasing the market.

Management : Entering a market is just the beginning.  I need to develop a set of rules that will allow me to manage a trade including; building on strong positions, exiting weaker ones with minimal losses and protecting profit without missing a major move if a market starts to trend.

Review : No trade is perfect so I absolutely MUST start reviewing every trade I make and look for opportunities to improve.

The good thing is I have this little slice of the internet to capture my thinking and hold myself to account.

Improvement starts now.