Custom-made-command in terminal

Hey,

i would like to create a simple file

Code:#!/bin/bash

1st simple terminal command
2nd simple terminal command
3rd simple terminal commandand revoke it in terminal, under chosen command like `$ my_command`.

1) Where i suppose to store such a file, according to standards,
2) How to set up `$ my_command` as calling the chosen file?

i expect that i would have to make the file executable with `chmod +x file`, is that right?

Thanks :)