Ask AI: Make me a trading plan or strategy

1. Set a trading goal: The first step in creating a trading plan or strategy is to set a trading goal. This could be short-term (such as making a certain amount of money within a month) or long-term (such as increasing your net worth over the next five years). 2. Choose an investment vehicle: After setting a trading goal, decide which type of investments are best suited to help you achieve your goal. This could include stocks, currencies, commodities, or a combination of all three. 3. Develop a trading system: Create a trading system that will guide you when entering and exiting trades. This system should include risk management rules, entry and exit criteria, position sizing methods, and trading strategies. 4. Establish a trading routine: Create a daily routine for trading. This could include researching markets, reviewing your trading system, setting limit orders, and assessing open positions. 5. Monitor results: Monitor the success or failure of your trading plan or strategy by keeping a trading journal and reviewing your results at the end of each month. 6. Adjust plan or strategy as needed: Be willing to adjust your plan or strategy over time if it is not working as intended. You can also consider adding new investments or strategies if necessary.