May be this sounds like pushing it too far to some. However, given my education, professional career, and experience in project management, it comes natural to me to prepare a plan in facing any complex project in life. Why not? The alternative could have very unpleasant consequences. I do it in my travels, in engineering and construction projects, organizing a concert(benefit) concert, a wedding, etc.
To me preparing a plan itself part of the fun... especially in complex and challenging project. It's only natural that one has a good plan in handling as dynamic a situation as the stock market and any individual stock. Thus one has to use a the knowledge available on one hand to use thought energy in preparing to intelligently to respond of the likely scenariosand what to do BEFORE things unfold.
Planning (also called forethought) is the process of thinking about and organizing the activities required to achieve a desired goal.
"Planning involves the creation and maintenance of a plan. As such, planning is a fundamental property of intelligent behavior. This thought process is essential to the creation and refinement of a plan, or integration of it with other plans; that is, it combines forecasting of developments with the preparation of scenarios of how to react to them.
An important, albeit often ignored aspect of planning, is the relationship it holds with forecasting. Forecasting can be described as predicting what the future will look like, whereas planning predicts what the future should look like. The counterpart to planning is spontaneous order."
Remember, if you do not have a plan, you will be part of the plans of others who do have plans. Such are the realities in any complex project. And, I regard, anything to do with trading/investing in the stock market or individual stocks where money and livelihood are involved... happen to be among the most serious challenges. If one is not ready to take this 'game' seriously and plan for adequately... getting stuck in one mode or scenario- whatever that may be - one is simply gambling. Just imho!
GLTA
