Trading Plans Made Simple
By Jacqueline and Davin Clarke
“Failing to plan means planning to fail”. Sure, this might be the gazillionth time you have heard or read this statement, but it remains one of the great untaught areas of trading. It’s such an easy thing to tell people to create a trading plan – it comes in at about slide three of the presentation at a seminar, usually – and yet there is very little out there which will walk you through the basics of a good trading plan.
The Clarkes have adopted a holistic approach to the subject and it works well, with everything from the psychology of trading to the empirical methodology needed to refine the plan covered in detail.
In fact, this is the sort of book that experienced traders could also benefit from flicking through to get some ideas for different metrics or extra elements to add to their existing plan.
Market appeal: Novice-Advanced
Verdict: Unfortunately the phrase that opened this review is a cliché because it is true. If you want to develop your plan from scratch or improve your existing strategy, then plan to buy this book.