The starting point to 2011 Trading plan is your "Profit Extraction Strategy ".
Profitable trading opportunities are present in the market on all timeframes. You need a Profit Extraction Strategy to extract that profit from that opportunity pool.
A Profit Extraction Strategy is a method, or system by which equity is risked to extract profit .
If you don't have that extraction mechanism then you do not have a trading plan.
Lot of time Trading Plans are just intentions and they do not have real plan. For example many people have a plan which says they should make 500 dollars per day. But that is not a plan because there is no Profit Extraction Process attached to the plan.
Lot of time you hear people saying that their plan is to be more disciplined in 2011. Which in other words means they do not have profit extraction plan. You can have great discipline but absent Profit Extraction Strategy you are just wasting your discipline.
So the first question you need to think a lot about is "Do I have Profit Extraction Strategy"?
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