Day Trading Stock Tip - Online Stock Trading Business Plan (Overview)
Your Online Stock Trading Business Plan (Part One -
Overview)
In future articles you will receive suggestions for creating your own
written online stock trading business plan. Having a
written online trading business plan is necessary
for several reasons:
- most successful traders have one
- it is a way for you to determine how disciplined you are
- you have a written set of rules which helps increase your focus
- if you ever wish to turn your trading business into a money management firm or hedge fund, you will need to be in the habit of having written business plans
Obviously, raising capital from others and trading that
money for a fee and
percentage of the profits requires much more than a business plan.
Nonetheless, getting in the habit of having and consistently sticking
to your business plan will install a terrific habit no matter what you
want to do with your trading.
These are incorporated from many sources along with some personal
tweaks. For more information on specific trading-related business plans
please visit these references:
Adrienne Toghraie's "Trading On Target"
Sunny Harris' Trading 101 & Trading 102
In the ensuing articles you will read about different recommendations for what you should include in your business plan. To start, however, here are the basics of a traditional business plan:
- Cover Page
- Executive Summary
- Table of Contents
- Company Background
- Business Concept
- Product or Service - Features - Benefits
- Market Overview
- Market Situation Analysis
- Marketing Strategy
- Total Available Market
- Target Market
- Competition - Direct - Indirect
- Competitive Advantage
- Management
- Financial Overview - Income Forecast - Cash Flow Forecast - Balance Sheet Forecast
- Financing Plan
- Exit Strategy
- Appendices
- Management Resumes
- Footnotes to the Financial Forecasts
Your online stock trading business will have similar
sections with sections more related to trading specifics.
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