Swing trading isn't heart surgery, but the path to success can seem just as long. Fortunately, there are things you can do to cut down the considerable learning curve. Start by writing an effective trading plan.

After you draw up your plan, follow it for a few weeks and then start a journal to analyze your trades. Make small adjustments as you move forward, and test each modification. Save the big changes for weekends and holidays, when you have the time to examine their impact.

Compare the plan with the journal and see how your decisions identify the trading style you've put together. Today's markets require constant attention to keep your eyes on the prize. The journal will keep you focused squarely on your trading goals. Avoid using the journal as an excuse for failure. Confession only goes so far in healing emotions. Profits do a much better job.

Here are 10 ways to build an effective trading plan.

Plan the trade, trade the plan. Define a personal style and update it frequently. Without one, you won't know what it is, and you'll lose money the next time your wallet depends on it. This style defines your trading rules, holding periods, stock choices, execution criteria and filters that tell you when to stand aside. Other folks may have good ideas about what belongs in your trading plan, but it's your money at stake, not theirs.
Match your trading to your lifestyle. Choose an appropriate holding period, because everything else you do is defined by it. Base your decision on experience and available capital. Match your positions with other lifestyle considerations and free time. Preserve your trading account with longer time frames and smaller commitments.
Review your goals for trading the markets. Is excitement or financial return more important to you? Do your profits need to pay the mortgage, or just the next vacation? If you're not sure what your goals are, trade small until you figure them out. Eventually, the markets will lead you to a style that offers the greatest profit. Where you begin on the journey may not be where you end up.
Trade your small account carefully, or you'll wash out quickly. Don't overtrade a small account in hopes of building it up. Apply the limited stake to longer-term trades rather than flipping it repeatedly. Decide in advance whether to use the account's margin. Margin increases both reward and risk. Trade with your head, not over it.
Define your entry and exit rules. Decide what your setup must look like before taking the trade. Don't take a position unless you see 3:1 reward/risk or higher. Use your rules to define what must happen in the seconds before you pull the trigger. Learn to stand aside when you don't hear the bells go off at the moment of truth.
Define a price range you want to trade. Then pick up the right number of shares for each position. Trade more shares when your ducks line up in a row, and reduce the size when they don't. Limit shares to manage risk, and trade small when trying out new tactics or time frames. Decide whether to scale in or out of positions.
Will you use limit or market orders? Will you use physical or mental stops? The answers may depend on whether you trade through a discount or direct-access broker. Some direct systems don't allow market orders or physical stops. They assume you'll be in front of your trading screen all day. If your lifestyle conflicts with this scenario, find a less demanding interface.
Modify your trading plan as your skills grow. Fresh tactics require new risk considerations. Don't let your plan strangle new ideas, but add them slowly and make sure they're an improvement. Never trade a new plan first and write it down afterwards.
Decide where to focus at the start of each day. Your time is limited and it's easy to get overwhelmed. Save your energy for the most urgent tasks. Use your plan to define what will capture your attention and what to ignore. Remember that intuition plays a great part in trade selection, so look for the setups that invoke your excitement.
Choose information sources wisely. Will you listen to the news or the numbers? Will you trade through economic releases, or close out and step to the sidelines? Decide if the television stays on or off during market hours. Define a clear relationship to stock boards and chat rooms. Then shut out external opinion when it's time to prepare for your next trade.