Jai,
this is the first time I am reading some of your posts and that too about this trading plan.
It's not a bad idea at all. I tell, that everyone should have a similar trading plan like this, if not the same plan of Jai. You can tweak the Jai's trading plan a bit to suit your mentality but not the rules. The rules are absolutely universal.
I myself would not prefer to double my earning after xx months, instead i will go for a gradual 10-20% increase in my monthly earning from the previous month earnings. You can first have a fixed 6 months or 1 year earning, after that you can start increasing the % earning in upward direction. But never lower your earning % (dont make it negative to pervious month). You can be at liberty to leave the % jump to zero also but not minus.
As Jai, said, first have a trading plan which necessitates you to have a good trading system. To have a trading system, you need to at least learn the funda's of TA ( I discount FA, since most FA players are investors rather than traders).
Also, have a trading record book. write your views on market, hypothesis, what you thought, what happened? etc etc.
I read someone told 5 years is too long. If 5 years is too long in markets, better quit it. Those who think in that fashion aren't fit for market at all.
trading is also like anyother profession, which gives you the liberty to sit and trade in any place in this world. Flexible timings, trade at your wish, take a long break, no need to say those salam's to your BOSS.
You are a free bird, as long as you escape from the vultures...
Trading is a passion..
Happy Trading..
Satya
