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    In our everyday lives we are used to doing things without thinking. For example, we don't consciously think about making a turn as we drive; we just do it automatically without thinking. But it wasn't always that way. When we first learned how to drive, we deliberately planned every move. It's also true when playing sports. At first, you needed to consciously and deliberately perform each action. Over time, with practice, you were able to perform each action skillfully, hardly thinking at all. Despite their experience learning various skills throughout their lives, novice traders, however, think they can trade on the spur of the moment. They don't carefully plan a trade, and follow the trading plan when it is time to execute it.

    Detailed trading plans are an essential ingredient for success. When you first start out trading, it is difficult to trade on the spur of the moment. There are too many issues to attend to, and without a wealth of experience, you are bound to make mistakes. Making a specific acti

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    hat way. When we first learned how to drive, we deliberately planned every move. It's also true when playing sports. At first, you needed to consciously and deliberately perform each action. Over time, with practice, you were able to perform each action skillfully, hardly thinking at all. Despite their experience learning various skills throughout their lives, novice traders, however, think they can trade on the spur of the moment. They don't carefully plan a trade, and follow the trading plan when it is time to execute it.

    Detailed trading plans are an essential ingredient for success. When you first start out trading, it is difficult to trade on the spur of the moment. There are too many issues to attend to, and without a wealth of experience, you are bound to make mistakes. Making a specific acti

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    actice, you were able to perform each action skillfully, hardly thinking at all. Despite their experience learning various skills throughout their lives, novice traders, however, think they can trade on the spur of the moment. They don't carefully plan a trade, and follow the trading plan when it is time to execute it.

    Detailed trading plans are an essential ingredient for success. When you first start out trading, it is difficult to trade on the spur of the moment. There are too many issues to attend to, and without a wealth of experience, you are bound to make mistakes. Making a specific acti

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    ur of the moment. They don't carefully plan a trade, and follow the trading plan when it is time to execute it.

    Detailed trading plans are an essential ingredient for success. When you first start out trading, it is difficult to trade on the spur of the moment. There are too many issues to attend to, and without a wealth of experience, you are bound to make mistakes. Making a specific acti

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    u first start out trading, it is difficult to trade on the spur of the moment. There are too many issues to attend to, and without a wealth of experience, you are bound to make mistakes. Making a specific action plan while trading has clear benefits. Scientific research illustrates how action plans help people achieve their goals. Dr. Gollwitzer, Professor of Psychology at New York University has conducted several studies that show the benefits of making specific plans that outline WHEN, WHERE, and HOW to perform an action.

    For example, it's useful to determine beforehand that when Market Condition X happens, and Pattern Y appears, then you should enter at a prescribed moment, set a protective stop, and monitor the trade until Z occurs. Knowing WHEN, WHERE, and HOW - helps you perform effortlessly and gracefully. Specific plans help us respond quickly and automatically when it is necessary. When we make a plan beforehand, we can follow it acting swiftly and efficiently.

    What does research on making plans reveal? In a

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