Trading Plan Revisions

Two months ago, I made some adjustments to my trading plan, but it is still too early to tell if my adjustments are driving my portfolio up or if it’s the market’s improved condition that’s driving it. Hopefully I’ll be able to see a more complete picture of how I am truly doing before the end of the year. One thing is for sure, I am more comfortable psychologically with trading and holding stocks than I was two months ago. Last week, I spent a couple hours reevaluating and editing my trading plan on a one page paper. One thing I did was that I looked at charts from my recent successful trades and identified common characteristics and adjusted my entry criteria accordingly. I’ve also lengthened my time frame for trades because I am limited in my computer access during the week. Prior to this adjustment, I was tight on my stops and now I can ease off a bit. You could say I am in a transition type stage right now with my trading plan.

Keep those stops tight, the market is experiencing some turbulence!