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.
- 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