Robert T Kiyosaki:
Why System:
n the B (big business) and I (investor) quadrant, however, the most important thing is the system behind the product or idea. Case in point, most of us can cook a better hamburger than McDonald’s, but few of us can build a better business system.
Rich dad said, “The product is the least important piece to inspect when evaluating a business.”
Rich dad believed that a truly successful business was built on systems and that the product didn’t have to be the best if the systems were world class.
“Many banks will loan money for a franchise, but not for a small start-up business, because they recognize the importance of systems and how starting with a good system lowers their risk.”
“Business owners can go on vacation forever because they own a system, not a job. If the B is on vacation, the money still comes in.”
I hope in above paragraph detail you must understood what is a SYSTEM for a business and why it is important, for us to become successful and to become consistent successful trader developing a system is very very important. Once you develop a SYSTEM follow the system, once you become expert in following the system its very easy to scale up the outcome from the system .. I hope you are getting me. IF you need any help assistance on this please don't hesitate to reach out to me.
Please review the below trading system and let me know what is your opinion and which trading system you are following what is working best for you?
| Sr No | Title | Commets |
| 1 | Plan the Trade and Trade the Plan | Before placing order into the market, Plan is on paper - Why to take this trade and Strategy for profit booking and how to exit from the market |
| 2 | Per Trade Risk = 3% to 5% | Looking for the trading setup where 5% loss (1250 - 3000 rs) |
| 3 | Consicutive -ve trades | not more than 5 consicutive trades going wrong. If this is the case then its Alarming. Stop trading n Relax |
| 4 | Trading only on Setup | Planned trading only on candlestick and chart pattern break out & pattern formation |
| 5 | R:R ratio | 1:2 & 1:3 risk to reward ratio. And only traded on that, Ride the Ralley |
| 6 | Coming out of trade strategy | if it does not cross over break-even in 3 consicutive candles then better to exit. |
| 7 | Choosing the scripts | company market Cap is > 500 CR, has history of at least 1 year, the sector is performing, Volume BrakOut, |
| 8 | Trading the news | No. Not recommanded to trade the news wait for market to settle down after news and then trade. |
| 9 | Time Frame | only only and only traded on Daily and Weekly charts. |
| 10 | Trading Timings | Most of the trade will start during session start time 3.15pm, read the trading results on every week and take the action properly |
| 11 | Inherent trend & Reverse Order | Trade must have to follow the inherent trading & strategy for Reverse trading |
| 12 | Self Analysis - Weekly Basis | DrawDown should me minimum < 20%, %win should be more than 50%, |
| 13 | Fine Tune and changing plan | Fine tunning to monthly requirment, the action for increasing the trading capital and trading strategy |
| 14 | Planning | Weekly planning for next week pairs, probable trading setups |
| 15 | Commitment | Following the System Rules. Whatever may happen I am following my rules |
Useful Link: https://enlightenedstocktrading.com/build-a-stock-trading-system-for-your-life/
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