In this chapter, we will look at a detailed trading system that incorporates many of the concepts learned in this book about the “10 Habits.” You can use this system in your trading or create your own, using this complete system as a template.
This trading system defines the chart setup, trading strategies, trading rules, and trade plan a trader will employ. Traders will plan the pre- and post-market preparations to optimize trading performance. Traders should use a checklist to track their actions and make sure they do not miss anything as planned. Please see Chapter 15: Analysis Toolbox: Your First Mentoring Session for a more detailed explanation of some of the concepts discussed in this chapter.
In this section, you will define the markets and time frames you will be trading and “dress up” the chart to include any indicators that will be used. The chart can then be saved as a template to be applied to each time frame analyzed in the decision making process to trigger a trade. Finally, make your commitment in this section as to the amount of time you will spend analyzing and trading the markets.