Plan your attack

I have written in the past of how important it is to plan for a few different scenarios in regards to your trading. Regardless of your bias, it is important to plan for contingencies so that you are not caught unprepared with an adverse reaction in the markets. Regardless of how many indicators lineup for your intended trade, the markets will do whatever they feel like it, and as a trader you must remain nonobjective and prepared for anything. I found three great links this weekend highlighting a few different ways traders plan for trading this environment.

Great example of a trader having a plan of attack for trading the current environment.

Great example of a trader having a plan of attack regardless of whether markets go up or down this week.

Great example of a trader having a plan of attack for daytrading this environment.

Good Trading,

Joey