In this post, I’ll be sharing a trade plan for IOT, demonstrating the importance of creating a consistent and structured approach to trading. A well-defined trade plan offers the only control a trader has in the ever-changing and unpredictable environment of the markets.
Initially, the process of developing a detailed trade plan may seem tedious. This is a natural resistance from our minds, which often shy away from structured approaches. However, the focus of this post is to encourage you to move beyond searching for the ‘perfect’ method and instead build a solid foundation of learning discipline and consistency.
Implementing a focused, consistent method is like a framework that you can learn from and even design new methods from within that framework. The key is to focus on being consistent in what we do.
In the accompanying video, I show the components and processes of a swing trade and how I incorporate these elements into my trading methods. Instead of thinking purely in terms of technical analysis, I encourage you to consider structuring your approach around the simple dynamics of buyers and sellers, to gauge who is in control at any given moment.