The Trading Plan Verses The Trading System

Do you know the differences and their respective roles in your trading? Too many traders confuse the Plan and the System and too often ignore the former while pursuing the latter. Veteran traders will tell you it should be the other way around. I’ll relate the true story of a trader who once found the perfect system but lost money due to a poor trading plan.

Biography: Larry Schneider is Director of Business Development for Zaner Group; a national Introducing Broker headquartered in Chicago. Previously he was executive director for retail futures sales at Morgan Stanley DW Inc., where he was responsible for marketing, training and execution services. A former floor broker and floor trader, Larry has been lecturing about futures markets for over three decades, for such institutions as Northwestern University and Chicago Mercantile Exchange. Larry was also a founding trustee of the Institute for Financial Markets, is an arbitrator for the NFA and serves on the NFA’s Advisory Committee on Testing and Education.