First of all, fill in the blanks in this sentence: "I hope to be a successful trader because ..."

Then, realistically evaluate your strengths and weaknesses in trading, as well as any personality characteristics that may affect trading behavior.

2. Identify and understand your trading objectives.

Determining the trading target is one of the most important steps in making a trading plan. But this is also a link that most people ignore.

Trading objectives should be as specific as possible, including profit objectives and time frames should be as detailed as possible. Only by defining and quantifying your goals can you measure the completion of your goals.

Most trading plans will advise you to set detailed trading targets, daily, weekly, monthly, semi-annually, annually or even for life.

You may find it ridiculous or impossible to set daily trading targets, while setting lifelong trading targets is meaningless. But in fact, it is more important to determine these transaction targets than to pay attention to the actual transaction results, which will eventually benefit you a lot.

3. Select the transaction type you are interested in.

There are many transaction types to choose from in the financial market. Some people tend to stick to one trading method, while others can be comfortable with multiple trading types.

No matter which mode is adopted, the most important thing is to know the available trading types in advance and determine the trading system that you will adhere to when making trading plans.

Of course, you can also adjust your trading plan in the future trading career, but don't try a new trading type rashly without knowing whether a certain trading type is suitable for your trading style.

4. Determine the target market and trading time frame.

In addition to determining the type of transaction you are interested in, you should also determine the target market that suits you best.

When determining the target market, the first thing to consider is your understanding of the specific market (whether it is corporate stocks, commodities, indexes or foreign exchange markets) and its driving factors. The more you know about these markets, the more interested you are in related topics, and the more careful you are in handling them.

In addition, you should also consider the trading hours of these markets and whether you can pay due attention to them at key trading hours.

5. Establish a personal trading system

Trading system can help you use a series of trading rules, making trading an almost automatic process. But first, you need to decide whether you want to choose a trading system to guide your trading decision and make trading a mechanized process. I still hope to make a decision according to the specific situation and let the transaction become an independent process.