Trading Philosophy/ Plan

1. Investment philosophy
Before set up trading plan, you need to decide your investment objective. For example, invest to build wealth (young investor), invest after retirement (old investor) or invest for a calling (develop talent). If don't have any goal or simply buy/sell share based on greed, you're gambling your money in stock market.

2. Investment styles/principles
Possible investing strategies:
DCA (dollar cost averaging)
Covered wheel options
Stop Loss/Profit
Long position (Dividend stocks)
Diversification
Choice of brokerage

My aim are to invest with minimum or no fear and greed. I don't like leverage or short sell - too risky.

3. Investment resilience
Need to keep 6-9 months emergency fund (to prepare for recession risk). Strictly follow stop loss/profit target. Develop a daily routine to lead a healthy lifestyle (sleep well, eat balanced meal, meditate etc).

4. Learn new investing knowledge/skill
Read articles or news about the company you invest (or plan to invest). Learn to read online info critically - have a balanced view. Read or learn new strategy and skill such as FA, TA, momentum investment, options strategy etc. Apply the knowledge/skill using a small budget or papertrade.

The aim is to stay relevant and be resourceful.

5. Manage fear and greed/ Avoid scams
Greed can lead to lose your hard earn money away. It's dangerous buying investment products not knowing the risk or consequences - this is gamble not invest. If you're taking a long position, be sure to know the company's fundamental well. There are many articles or people out there trying to create fear or scam you - FOMO buy or panic sell. If the deal is too good to be true, it's most likely a scam.

Bottom line
There's no foolproof plan and you need to practice. If you are new to investing, I suggest you start small and go slow. There's nothing wrong to keep you money in stable investment such as fixed deposit, government bond, T-bill or cash plus. Majority of my portfolio is in long position and cash plus. Occasionally I trade  covered put/call at calculated risk.