Planning your trades

[Kasper 13]

Yesterday I had an interesting discussion with a few trading buddies about planning the trades. I was baffled to learn that most of them didn't actually try to predict the move a potential stock in play could make.

I always find at least 2 stocks that I like and, try to predict the move. Basically if it could turn into a nice 1-min ORB if it rejected  a level or a 5-min ORB if it held above a certain level etc.

Let me know how you guys plan out your trades and if it helps to release some of the stress that comes with trading.

Kasper

[Mike B 625]

I do not try to predicted what a stock is going to do, instead I react to what the stock has done. Using your example above, I would find the two stocks and then develop a plan that if the stock rejects "x" level as support with increased "asks" on the level 2, and volume coming in at or above the "Ask" on T&S, then enter at "X" level. 

With this mind set you are no longer predicting, you are reacting to the price action of the stock. 

 Just my thoughts.