What's your trading plan?
Discover why having a plan for your trades is crucial to your success.
One common behavior of successful traders involves creating a game plan before placing a trade. Game planning involves thinking a trade through from beginning to end, focusing on both positive and negative outcomes. In this hour-long recorded session, professionals from Fidelity's Trading Strategy Desk® discussed having a plan of action for both scenarios — which allows you to make disciplined decisions regarding your trades, managing potential profits and helping to minimize losses.
Topics covered:
- Why a game plan is crucial to determine next steps in your trade
- How to create a game plan that is easy to follow and implement
- How your game plan might change, and how to take action as a result