The Ein55 students have learned the Practical of PA (Personal Analysis) from Ein55 Mentor Course by James Hon, understanding the importance of systematic approach of trading plans and investing strategies.  Here are the 10 key elements:

  1. Skill Assessment – Tested system? Confidence?
  2. Mental Preparation – Are you emotionally and psychologically ready?
  3. Set Risk Level – This depends on your trading style and risk tolerance.
  4. Set Goals – What is your realistic profit targets and risk/reward ratios? How to stop loss?
  5. Do Your Homework – Before the market opens, what is going on around the world? Calm? Volatile?
  6. Trade Preparation – Set alerts for entry and exit signals!
  7. Set Exit Rules – Most traders concentrating 90% or more for buy signals, very little attention to when and where to exit.
  8. Set Entry Rules – Exits are far more important than entries!!!
  9. Keep Excellent Records – use your Journal!
  10. Perform a …