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 recorded webinar, options professionals Colin Songer and Brian Isabelle, 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 on winners and minimizing losses on losers.
- 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