The Difference Between a Trading Plan and a Trading System.

Before we continue, we have to quickly distinguish the difference between a trading plan and a trading system.

• A trading system describes how you will enter and exit trades.
• A trading system is PART of your trading plan but is just one of several important parts, i.e., analysis, executions, risk management, etc.

Since market conditions are always changing, a good trader will usually have two or more trading systems in his or her trading plan.

Trading systems will be covered more in-depth later on in the lesson, but we thought that it was important to point out the difference between the two upfront to avoid any confusion.

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