Aug

Planning A Stock Trade Ahead of Time

Here’s some trades I’m watching in the new Trade Planner Platform we are working on. These are just example pictures as the software is "live" during the trading day.

This demonstrates how we like to determine the entry price, stop-loss and targets ahead of time. Planning the trade on the chart gives a good perspective and helps visualize the expectations. We know the risk in advance and it forces us to focus on the trade before pulling the trigger. Then, the execution is programmed in at the broker and it’s on autopilot.

I really believe in calculating all the details of a trade ahead of time and executing the trade according to the plan. This takes all the emotion out of the equation. Once the entire trade is set up I can sit back and watch it play out. You know what they say, "Plan your trade and trade your plan". Good advice.

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