“100” day Trading plan and challenge to become a successful trader.
Day 1-5: Trading Preparation
- Define your ‘why’
- Identify your short, medium, and long-term goals
- Identify your risk tolerance and capital allocation
Day 6-20: Trading Fundamentals
- Study trading types (scalp, intraday, swing, position)
- Research financial markets (stocks, forex, crypto, commodities)
- Choose the style and market that suits you
Day 21-35: Building The Basics
- Learn from YouTube, books, and podcasts
- Book recommendation: “Market Wizards” by Jack D. Schwager
- YouTube suggestion: The Trading Channel
- Podcast suggestion: Words of Rizdom
Day 36-40: Trading Environment
- Make sure your hardware and software are optimal for trading
- Create a productive and organized trading station
Day 41-60: Technical & Fundamental Analysis
- Learn price charts, time frames, candlestick patterns, price action, trends, market structure, and support and resistance
- Study fundamentals such as economic indicators, global events, and more
Day 61-70: Study Risk Management
- Stop-loss and take-profit orders
- Risk planning
- Risk-to-reward ratio (RR)
- Position sizing and margin
Day 71-80: Navigate Trading Psychology
- Study psychological factors that drive price action
- Understand the Wall Street “Psychology of a Market Cycle” Cheat Sheet
- Create stress management techniques in trading
- Become familiar with emotions that influence trading decisions
Day 81-90: Develop a Trading Plan & Strategy
- Establish a systematic method for identifying trade positions
- Create a trading journal
- Implement timeframe analysis
Day 91-100: Test Your Plan & Strategy
- Test your plan and strategy on a demo account
- Analyze your results and refine your plan
Day 100+: Execute Live Trades
- Transition to trading a live account
- Learn from your mistakes
- Start low and go slow
- Don’t give up