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[Oluti]

The first step in building a trading plan is to realistically take a holistic view of yourself.

The foundation of your trading plan starts with your self-reflection because you will be the only one using it. This self-reflection will reveal your trader profile, which is basically who you are as a trader.

Who you are as a trader will define what kind of method suits you. Strategies, systems, and methods which aren’t compatible with your profile and personality will drastically lower your chances of success.

While most traders want to immediately jump into creating or finding trading systems and strategies, they won’t know which ones match their personality and unique situation if they don’t spend some time on self-reflection first.

Before you think about clicking the Buy or Sell button on your trading platform, there are some questions you should ask yourself so that you can better form your trading plan. While you’re at it, you should write down these answers. Writing down your answers will help remind you of what you’re going to do and help make sure you stick to the plan.

Now are you ready for some Q&A?

In the following sections, we’ll go through some questions that should make clearer what your trading profile is, and how it will shape your trading plan.

 

[lioralace]

Okay, trading plans. Everybody loves to nerd out over fancy indicators, right? All those colorful charts and shiny new strategies—honestly, most folks chase that stuff like a cat with a laser pointer. Reality check? None of that matters if you don’t actually know yourself first. Weirdly touchy-feely for a finance topic, but it’s true.

Seriously, you can spend ages hunting “the perfect system” (spoiler: that doesn’t exist), but if you build your trading plan on someone else’s rules, you’ll crash and burn faster than a FOMO crypto trader. You’re the one who’s stuck following those rules, so if your plan fits someone else’s life or risk appetite? Nah, it’s useless.

What’s this “trader profile” thing? Basically, it’s like your trading horoscope but, you know, based on reality. Your strengths, weaknesses, how much chaos you can handle without face-planting into panic mode. Whether you like things slow and steady or live for the thrill of rapid-fire action. Pick the wrong style for how your brain’s wired, and you’ll either be a stress ball or just super bored—neither is good for your account.

Honestly, most newbies try to skip figuring themselves out and jump straight into “winning” strategies. Sorry, but that’s like trying to buy a suit without checking your size—you’ll look ridiculous. Sit down and grill yourself with some uncomfortable questions: Why do you even want to trade? How much time can you actually spare, not just in some perfect fantasy world? Are you a daredevil or do you clutch your pearls at the slightest dip? Are you more spreadsheet nerd or gut-feeling gambler? Be honest, write your answers down (yes, with actual words), not just vague ideas floating in your head.

Putting it on paper isn’t just for vibes—it’s for when the market turns ugly and your brain tries to panic-sell everything. The plan reminds you: hey, remember who you are and why you made these rules? It’s ridiculously easy to go off the rails if you don’t have that anchor.

Then, and only then, you can pick a system that matches who you really are. Hate risk? Go slow, use clear stop-losses, pick trend-following yawn-fests. Crave adrenaline and don’t mind losing sleep? Maybe try scalping, but don’t blame me if your nerves fry.

Up next, we’ll run through some questions to cut through your own B.S. and figure out your actual trader type. This isn’t some “nice to have” bonus—it’s the backbone of not blowing up your account. Your plan’s gonna change as you do, too, but getting the basics down is step one.

So, are you actually ready to do a little self-discovery—or just hunting for magic signals again? Drop the shortcuts. Build this thing for you, not for Instagram clout. Let’s get rolling.

 

[perlcode]

I think its very important to have an understanding of one's temperament and goal. Knowledge is one thing, a very important tool but only a tool, developing a strategy is another thing. The first step to developing a strategy is to have a goal, and then work backwards to formulate a plan. Also, it is challenging to know everything, and what I have found useful is to make solid distinction between knowing what you know and knowing what you don't know. If the goal is to get to the finish line, there is no point trying to jump over a 10 feet hurdle if you can get to the finish line by jumping over a 1 ft. hurdle. All the investors you have mentioned above have followed this philosophy.