In any case, here are the Jeff Quinto videos (link to CME website):
Developing Your Trading Strategy
Building Your Trading Plan
The Importance of Simulated Trading
The pdf of his presentation is here (link to CME website), including the sample trading plan:
Jeff Quinto's Theory of Futures Trading (registration required, but is free)
My takeaway:
- Instead of merely describing how a good trading plan should look like. Jeff Quinto provided a sample trading plan. His sample trading plan is for trading ES intraday.
- He suggested that the trading plan should be hand-written. I followed that and found that it really worked better for me. I used to keep an electronic trading plan. I guess a hardcopy trading plan just seems to stand out and catch my attention.
- In the sample trading plan, Jeff Quinto shared some interesting money management strategy. For instance, if trading profits for the day is up 30 ticks and if one loses 1/3 of the profits, cut loss. Some good food for thoughts.
- The point on trading plan should capture MOST of the activities to arrive at the trading decision. However, there still be some room for discretionary decision, perhaps based on the market condition at that point in time and also the context of the price. So this is what discretionary trading is all about.
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