Profiting From Meltowns...Have a Plan

One of the best/worst things about a blog is the archive and tagging features.

It’s easy to look back and see what you were thinking and what you were planning.

A few days ago I laid out a quick plan and thought process for the market . I thought we needed a quick 600 point drop in the Dow (5 percent woosh). It happened much quicker than I thought, but I was prepared going into the selloff and had my plan for the ‘what if’.

A plan does not always work out so well, but over time, plans make you a better more focused trader and operator.

If you invest, you should keep a journal or start a blog. It does not matter if anyone reads it, but I guarantee it will improve your thinking at the very least and likely, your trading.