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Ummm ... why do I get the feeling that you're setting me up for a fall?

Part 1.
As you well know past performance is no guarantee of future performance. You cannot know before you invest that any stock will perform. It is only the weight of evidence that you glean from your research that will guide you with some probability of a positive outcome. (or keep you from away from a negative outcome).

All I'm saying is that a disciplined considered approach to investment decisions should produce better results than a dartboard "lets see what happens" approach ... and crystalising the decision making approach in writing is surely better than relying on gut feeling and memory?

Part 2.
Firstly I am still in the process of identifying entry & exit strategies. i have already defined money management, risk management strategies.

Once all the strategies are in place, I expect to spend some time back testing and then forward testing those strategies using historical data. If these strategies in their entirety work then live trading will commence.

After each trade is finalised I will be reviewing the results. If the results are negative or significantly underperforming market averages then strategy adjustments are called for. (BTW, all of this is detailed in my trading plan)

I get the feeling that you believe that a written trading plan is a waste of time or is it that you haven't come across many plans that are well considered and thought out?

<blockquote data-quote="Prime" data-source="post: 92447" data-attributes="member: 5727">Ummm ... why do I get the feeling that you&#039;re setting me up for a fall?&nbsp; <img src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" class="smilie smilie--sprite smilie--sprite11" alt=":rolleyes:" title="Roll Eyes&nbsp; &nbsp; :rolleyes:" loading="lazy" data-shortname=":rolleyes:" /> Part 1.As you well know past performance is no guarantee of future performance.&nbsp; You cannot know before you invest that any stock will perform.&nbsp; It is only the weight of evidence that you glean from your research that will guide you with some probability of a positive outcome. (or keep you from away from a negative outcome).All I&#039;m saying is that a disciplined considered approach to investment decisions should produce better results than a dartboard &quot;lets see what happens&quot; approach ... and crystalising the decision making approach in writing is surely better than relying on gut feeling and memory?Part 2.Firstly I am still in the process of identifying entry &amp; exit strategies.&nbsp; i have already defined money management, risk management strategies.Once all the strategies are in place, I expect to spend some time back testing and then forward testing those strategies using historical data.&nbsp; If these strategies in their entirety work then live trading will commence.&nbsp; &nbsp; After each trade is finalised I will be reviewing the results.&nbsp; If the results are negative or significantly underperforming market averages then strategy adjustments are called for.&nbsp; (BTW, all of this is detailed in my trading plan)I get the feeling that you believe that a written trading plan is a waste of time or is it that you haven&#039;t come across many plans that are well considered and thought out?</blockquote>

[QUOTE="Prime, post: 92447, member: 5727"] Ummm ... why do I get the feeling that you're setting me up for a fall? :rolleyes: Part 1. As you well know past performance is no guarantee of future performance. You cannot know before you invest that any stock will perform. It is only the weight of evidence that you glean from your research that will guide you with some probability of a positive outcome. (or keep you from away from a negative outcome). All I'm saying is that a disciplined considered approach to investment decisions should produce better results than a dartboard "lets see what happens" approach ... and crystalising the decision making approach in writing is surely better than relying on gut feeling and memory? Part 2. Firstly I am still in the process of identifying entry & exit strategies. i have already defined money management, risk management strategies. Once all the strategies are in place, I expect to spend some time back testing and then forward testing those strategies using historical data. If these strategies in their entirety work then live trading will commence. After each trade is finalised I will be reviewing the results. If the results are negative or significantly underperforming market averages then strategy adjustments are called for. (BTW, all of this is detailed in my trading plan) I get the feeling that you believe that a written trading plan is a waste of time or is it that you haven't come across many plans that are well considered and thought out? [/QUOTE]

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