New Video--The Importance of the Plan

[Andrea Wylan]

Here is a 2nd quick video I did on the trade plan. I think planning can be one of the least favorite things we do as traders, but one of the most key.

The more planning you do off-line, the less thinking you need to do while trading, in theory. So, this is a good way to help calm nerves and make fewer emotionally driven mistakes.

It is definitely easier "said than done" to work on a plan and be clear when you get into the market what you will do, depending on where the market goes.

 

[easymon1]

Here is a 2nd quick video I did on the trade plan. I think planning can be one of the least favorite things we do as traders, but one of the most key.

The more planning you do off-line, the less thinking you need to do while trading, in theory. So, this is a good way to help calm nerves and make fewer emotionally driven mistakes.

It is definitely easier "said than done" to work on a plan and be clear when you get into the market what you will do, depending on where the market goes.

Hey Andrea, Long time no see. Welcome back.

One of the old timers that we looked up to would after 35 years in the game and as a rules based trader with a lot of stats and presentations and credibility and so forth, well anyway, this guy would trade along with us and he still started each and every day with a blank 3x5 card.

Before the market, he would fill in that card with the setups that he was going to be trading that day on 3minute and sometimes 89Trade futures charts. Hell everybody in the room knew what those setups were but this guy still wrote them down. Still did his stats. Still showed us the ropes anyway he could. I have my trading plan open whenever the charts are up and still do my stats. Two outta three aint bad, lol.

Andrea, would you say you are more of a rules based trader or more of an artistic intuitive trader?

 

[tony.m]

Hell everybody in the room knew what those setups were but this guy still wrote them down.

Maybe he had Dementia?

 

[easymon1]

Maybe he had Dementia?

Oh, hey tony, I almost forgot, great momentum topic you brought up. There's a list over here that might have a nugget in there somewhere. link... https://www.elitetrader.com/et/threads/interesting-search-terms.365486/page-6#post-5657032

 

[tony.m]

Oh, hey tony, I almost forgot, great momentum topic you brought up. There's a list over here that might have a nugget in there somewhere. link... https://www.elitetrader.com/et/threads/interesting-search-terms.365486/page-6#post-5657032

Thanks

 

[Andrea Wylan]

Hey Andrea, Long time no see. Welcome back.

One of the old timers that we looked up to would after 35 years in the game and as a rules based trader with a lot of stats and presentations and credibility and so forth, well anyway, this guy would trade along with us and he still started each and every day with a blank 3x5 card.

Before the market, he would fill in that card with the setups that he was going to be trading that day on 3minute and sometimes 89Trade futures charts. Hell everybody in the room knew what those setups were but this guy still wrote them down. Still did his stats. Still showed us the ropes anyway he could. I have my trading plan open whenever the charts are up and still do my stats. Two outta three aint bad, lol.

Andrea, would you say you are more of a rules based trader or more of an artistic intuitive trader?

Thanks, easymon1. That's a good example of someone consistently planning trades. The consistency is a help in building discipline, I think.

Per your question about my trading, I thought about that, and I think it is both--rule based and intuitive. I follow the strategies I learned in trading school--Online Trading Academy--and I also notice the flow of charts which I think becomes more intuitive over time.