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Wow ... I'm not used to so many descent replys to a newbie question.

Thank you all for your input.

Magdoran, Your summary was well written and will be well considered.

Many of the things that you mentioned I have already included and described in my trading plan, and the others I will include and describe later.

My basic philosophy at this point is to trade what I know and in a fashion that I am comfortable with and with due regard to my risk profile. I am adopting fairly basic entry, duration, and exit criteria and will refine these as time goes on.

I am treating my trading as a business and hence feel the need to write a business/trading plan to suite my level of expertise ... not withstanding, the plan will evolve as my systems are honed and my understanding of other financial instruments improves.

I will research the links and books suggested by those that forwarded them.

Many thanks

<blockquote data-quote="Prime" data-source="post: 92416" data-attributes="member: 5727">Wow ... I&#039;m not used to so many descent replys to a newbie question.Thank you all for your input.&nbsp;Magdoran, Your summary was well written and will be well considered.Many of the things that you mentioned I have already included and described in my trading plan, and the others I will include and describe later.My basic philosophy at this point is to trade what I know and in a fashion that I am comfortable with and with due regard to my risk profile.&nbsp; I am adopting fairly basic entry, duration, and exit criteria and will refine these as time goes on.I am treating my trading as a business and hence feel the need to write a business/trading plan to suite my level of expertise ... not withstanding, the plan will evolve as my systems are honed and my understanding of other financial instruments improves.I will research the links and books suggested by those that forwarded them.Many thanks</blockquote>

[QUOTE="Prime, post: 92416, member: 5727"] Wow ... I'm not used to so many descent replys to a newbie question. Thank you all for your input. Magdoran, Your summary was well written and will be well considered. Many of the things that you mentioned I have already included and described in my trading plan, and the others I will include and describe later. My basic philosophy at this point is to trade what I know and in a fashion that I am comfortable with and with due regard to my risk profile. I am adopting fairly basic entry, duration, and exit criteria and will refine these as time goes on. I am treating my trading as a business and hence feel the need to write a business/trading plan to suite my level of expertise ... not withstanding, the plan will evolve as my systems are honed and my understanding of other financial instruments improves. I will research the links and books suggested by those that forwarded them. Many thanks [/QUOTE]

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