TradingView

10 Tools To Create a Trading Plan

Education
NASDAQ:AAPL   Apple Inc
Today, we want to share some tips on how to create a plan. We especially want to highlight some of the tools available to you as a TradingView member.

1. Use our free paper trading tools to see what it's like to manage money. Open the Operation Panel to get started. You can find this button at the bottom of your chart. Paper trading is important because you can test and manage your trades or investments in a simulated environment. You don't have to risk real money.

2. Long and short tools allow you to plan a trade before risking real money. You can find it in the toolbar on the left side of your chart. Select it and then plan your trading. More importantly, you can see it on the chart. Set an entry point, exit point, profit target and define all aspects of risk management.

3. Taking notes is essential to working with your ideas. You can write notes directly on the chart with the Text tool. Taking notes helps you think more deeply about your trading process and easily share it with others for feedback. Here is an example:


4. Find trades that fit your criteria and style instead of hunting for news or big moves. Use the selection tools to find perfect ideas. Are you a momentum trader? Trader swing? Long-term investor? All of these approaches can be refined with our Screener tools. Create custom Screeners for stocks, currencies, and cryptocurrencies.

5. Read the Education section for new concepts and strategies. Every day, traders and investors around the world post long-form research on the markets in the Education section. It is open to all and is free to use. We have also included some examples below:

How to chart calculations

The importance of backtesting

6. Post your ideas and get instant feedback from everyone. There is no better way to learn than with others. To post an idea, click the Post button located at the top right of your chart. Fill in the basic information and write a full description. Once you've posted your idea, other traders and investors can comment, like, and send feedback.

7. Save your charts and research so you never lose your work. Organization is a key component of any trading plan. If you are drawing on your charts, taking notes and analyzing the price, you want to make sure that your work is saved and easy to find. Click on the cloud icon at the top right of your chart to save it. Use the drop-down menu next to the cloud icon to name your chart and open other charts you have saved.

8. Take your charts, watchlists, and do your research anywhere with our free mobile app. Everything syncs seamlessly from desktop to mobile. You only need an internet connection. A helpful tip is to create multiple watchlists and organize them according to your needs. Take your watchlist anywhere and stick with your plan.

9. Use the calendar and event tools to keep track of upcoming events. You never want to be surprised by an earnings report or a major economic event. On the right side toolbar there is a Calendar button. You can also add earnings , dividends, and splits to your chart by opening your Settings and selecting them from the Events menu. They will appear as icons near the bottom of your chart.

10. How do you plan your operations or investments? Leave an answer in the comments. Together, we can share ideas in the comments, meet new traders to follow, and create a list of helpful tips. There is no better way to learn than to work with other people. We hope you have enjoyed this post.
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