“Plan your Trade, Trade Your Plan!” This
was the trading advice we heard from a professional trader when we first got
started in trying to trade for a living. At first, it didn’t make much sense
to us but after several trades it began to sink in, deeply.
Most successful traders seem to have this same basic
philosophy. They have learned the importance of planning every trade
before they ever think of entering the market. And once they are
in the market, they must stick to that plan. “My best trades
are ones I planned well in advance, and I don’t
deviate from the trading-plan once I’m in.” said a trader.