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Sunday, May 2, 2010 at 2:40PM

Gap Guy in

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Trading Plans

Some folks says there is no such thing as the "holy grail" in trading. But I disagree. To me, it is having a realistic plan and trading it with discipline.

But trading with discipline is easier said than done. As a military pilot I routinely experienced the value of following a plan and sticking to it at all costs. However, as a trader I have realized that there are unique elements that can seduce even the most rigid and structured personalities from doing the right thing, at the right time.

A trading plan is only realistic IMHO if it is based upon an expectation that is grounded in history - what has happened in similar situations historically. However, even with robust, mathematical odds for each day's opening gap with specific targets and stops (like we have at www.masterthegap.com), some folks still struggle with following their plan. Hence, it is why we asked Tim Mock to be our trading "Coach".

Here's Coach Mock's excellent 4 minute video on trading with discipline:

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Important Disclaimer: The analysis and information on this site is provided for informational purposes only. Nothing contained herein should be interpreted as personalized investment advice. Under no circumstances does this information represent a recommendation to buy, sell or hold any security. None of the information on this site is guaranteed to be correct, and anything written here should be subject to independent verification. You, and you alone, are solely responsible for any investment decisions you make! Futures, options, and spot currency trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.