**SFO article at Barnes n Nobles literally reading right now in the Starbucks**

So I'm reading this article by Dan Sheridan regarding options trading and he is talking about having a plan. He says in the article that most retail traders don't have a plan. Now we here at askchrishetrades.blogspot.com( yes that includes you if you follow this blog because we are a growing community here) always have a trading plan. If you don't relaize we have a trading plan just analyze the videos and see we do. Are trading plan is our channels. He says it involves 3 components. Those 3 components are profit target?maximum loss, and adjustment point. Guess what folks we always have that and if we were not to write them down are key channels provides that information for us right on the spot. Are price targets are top of channels, are maximum loss is as simple as a break of our channel and maybe .10 below are entry, and are adjustment point is a break out of the top channel( we add more) or a breakdown below are max loss point, were we commit to the right actions. Those actions maybe to take opposite side of trade on stop out or to add to position on favorable direction break out. So let's analyze what I just said here and think how we are doing this already and don't have to waste time to right it down in a book. You can because it is good to monitor, but what I'm really trying to say is we have this in real time, when the other trader has them from the closing price of that days action. I'm not sure if I'm explaining it how I would like to? But the whole idea is we are real time with these decisions and we don't sweat or falter because we know what to do on whatever signal we get. And I will repeat myself one more time. On breakout of move in favorable direction we add. On stop out of move we initiate the opposite trade and make money on the way the market has decided to go. Watch for fake outs and 1 2 jab the breakouts. Now back to my reading !!!!