Traders often talk about the need to be patient but to be patient, we must know what we are being patient for. That is why we have a trade plan and know ahead of time exactly where to enter, where to place a stop, where to exit, and how much size to put on.
In this post, I continue with our trade planning exercise of 30 planned trades by making a trade plan for LEN. Keep in mind that the exercise is all about learning consistency and discipline and not about the method or whether the trade wins or loses.
In the video, I speak of not being worried about losing all 30 trades in a row. It’s not that I have steel nerves, it’s that I have planned ahead of time for 30 losses with my position size.