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Tackle Today: Build better trading plans

June 29, 2020

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~ Use STEP System principles ~


This week at Tackle Trading we are going to focus on 3 specific areas you need to build a plan of action for. 

  1. Education
  2. Application
  3. Community

Financial Education has many important layers to it, but the most important principles have always come down to a few specific areas.

  • Saving money (for unseen expenses)
  • The proper use of Debt (borrowing responsibly)
  • Living your wage (budgeting)
  • Investing money (wealth building)

At Tackle Trading, you learn the skills to be a better investor.  Reading charts, understanding fundamentals, using options to generate cash-flow and protect your money, day trading, swing trading, position trading and investing are all skills you can use to make money with, when applied properly. In most markets, one of the best places to invest, over the long term, are in stocks.

So, how do you know when to get in, where to set your target and where to set your stop loss when you buy a stock?  We call that a trading plan, and there are specific rules on how to build each component of your trading plan.

If you have not yet taken, or completed, the STEP System course, we strongly advise that you start immediately.

S = Stop Loss

T = Target

E = Entry

P = Position Size

Within the course, there are 6 modules, with 3 sessions each (18 total).  It is nearly 10 hours in total length and packed with the information you need to develop your rules and understand how to build a proper trading plan for your stock trades. 

If you are already a member of the STEP System course, you can access it here: https://tackletrading.com/course/step-the-scouting-reports-system/

If you have not yet enrolled or purchased it, it is being offered at 50% off until July 8th.  This is a part of our Independence Day sale, and you can enroll here: https://tackletrading.com/offers/

Commit to your Education and learn to invest with proper STEP based trading plans.  

Programming note, we will be holding a special webinar this Wednesday night on our YouTube channel where Coach Matt Justice will be teaching.  He is the architect of the STEP System course, the CEO of Tackle Trading, and you will not want to miss this one. 


Chart of the Day

NEM Daily Chart

One of the stocks from this weekends Options Report is NEM.  It was added to the bullish watch list.  Where would you set your Stop Loss, Target, Entry Trigger and Position Size (STEP) on this candidate?  Knowing how to build proper trading plans is key for any trader.

Video of the day

Come learn for yourself the value of financial education

Coach Noah shares his thoughts on the value of financial education. 

Today’s line up

Traders Lounge 11 AM EST

Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.

Halftime Report 12:30 PM EST

The Halftime Report starts at 12:30 EST and covers what news is driving the market, chart analysis from the movers and shakers of the day and fun in a way that only Matt and Tim can deliver.

Weekend Reports

Watch the Stock, Options, Commodity and Forex Reports to help yo prepare for the week.

Tackle Trading: Financial Freedom is a Journey. Sign up now for a 15-day free trial.

Financial freedom is a journey

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Legal Disclaimer

Tackle Trading LLC (“Tackle Trading”) is providing this website and any related materials, including newsletters, blog posts, videos, social media postings and any other communications (collectively, the “Materials”) on an “as-is” basis. This means that although Tackle Trading strives to make the information accurate, thorough and current, neither Tackle Trading nor the author(s) of the Materials or the moderators guarantee or warrant the Materials or accept liability for any damage, loss or expense arising from the use of the Materials, whether based in tort, contract, or otherwise. Tackle Trading is providing the Materials for educational purposes only. We are not providing legal, accounting, or financial advisory services, and this is not a solicitation or recommendation to buy or sell any stocks, options, or other financial instruments or investments. Examples that address specific assets, stocks, options or other financial instrument transactions are for illustrative purposes only and are not intended to represent specific trades or transactions that we have conducted. In fact, for the purpose of illustration, we may use examples that are different from or contrary to transactions we have conducted or positions we hold. Furthermore, this website and any information or training herein are not intended as a solicitation for any future relationship, business or otherwise, between the users and the moderators. No express or implied warranties are being made with respect to these services and products. By using the Materials, each user agrees to indemnify and hold Tackle Trading harmless from all losses, expenses, and costs, including reasonable attorneys’ fees, arising out of or resulting from user’s use of the Materials. In no event shall Tackle Trading or the author(s) or moderators be liable for any direct, special, consequential or incidental damages arising out of or related to the Materials. If this limitation on damages is not enforceable in some states, the total amount of Tackle Trading’s liability to the user or others shall not exceed the amount paid by the user for such Materials.

All investing and trading in the securities market involve a high degree of risk. Any decisions to place trades in the financial markets, including trading in stocks, options or other financial instruments, is a personal decision that should only be made after conducting thorough independent research, including a personal risk and financial assessment, and prior consultation with the user’s investment, legal, tax, and accounting advisors, to determine whether such trading or investment is appropriate for that user.

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