From Dabbler to Doer: A Trading Plan That Actually Works

When I first started trading, I followed someone else’s system to the T. Their entries, their exits, and their risk management rules. That worked for a while because when you’re new to trading there’s so much information out there, and trying to figure everything out on your own can be overwhelming. In the beginning, just learning to follow a set of rules consistently, and becoming disciplined in your work, is way more important than having the “perfect” strategy.

Later I started to notice that I didn’t feel grounded in my trading. No matter how much I studied, something always felt off. And not because the system I learned was wrong, but because I hadn’t considered my own unique triggers, my threshold for risk, or how I personally operate. I kept getting stuck in cycles of hesitation, frustration, and second-guessing.

My tipping point in trading happened sometime last year when I solidified my trading plan. I took ownership of what I traded, how I think, how I react, and how I make decisions. I needed to build a plan I could internalize, something I could get in my bones…a trading plan that wasn’t just a list of rules but a framework I could trust and execute without hesitation.

Having a personalized, structured plan is the difference between trading with confidence and constantly feeling like you’re chasing the market. A trading plan tailored to you is a non negotiable.

A Place To Think vs. A Plan To Execute

I have a detailed trading plan that’s 20+ pages long. It’s where I map out my strategies, break down what’s working, brainstorm adjustments, and get my thoughts on paper. It’s a place for me to write out my “whys”…why I take certain trades, why certain conditions matter, why I manage risk the way I do. It’s a space where I think through every piece of my trading process.

I also have a condensed version of my plan, a three-page quick reference that I read before the market opens every morning. The first thing in this document is mindset. If I’m not grounded before the market opens, I know I’ll start making decisions based on noise instead of my process.

So every morning, before I look at charts or check pre-market moves, I start with these reminders:

What Goes Into A Trading Plan?

My trading plan is designed to answer the real questions that keep me disciplined and in control. It covers:

✅ Psychology – Why I trade, my mindset, how I handle wins and losses, and how I stay disciplined in different market conditions.

✅ Strategy – What I trade, when I trade, and my criteria for entering and exiting positions.

✅ Risk Management – How much I risk per trade, how I scale out, and when I cut losses to protect capital while still giving trades room to work.

✅ Structure – How I check in with trades throughout the day, track progress, and refine my process over time.

This framework ensures that every decision I make is intentional, not based on emotions, but on a system I trust and execute consistently.

Here’s is a peek of some of the elements in my plan:

1. Risk Management & Exit Rules 

Stop-Loss & Exit Rules

• Down 30%: Sell 50% to reduce exposure. If price is sitting at a major support level with low selling volume, I can use discretion to hold.

• Down 40%: Hard stop—sell 100%, unless all of the following apply:

  • Support is holding on the daily and 4-hour charts

  • Recovery signs on 1-hour and 4-hour (bounce with volume, reclaiming a key level)

  • Strong market conditions

• I can always get back in!

Gap Up / Gap Down Rules 

• No immediate action at open. Let the first hour play out.

• Did the gap down land on support? If so, is it rebounding or staying weak?

• Midday Check:

  • If down 30-40%: At key support? Do nothing. If not at key support, cut half.

  • If down 40% or more: Reassess before day ends and close if failed to recover or if showing weakness.

• By removing impulsive reactions, I avoid premature panic selling.

Position Sizing & Portfolio Exposure 

• No more than $12K capital exposed at any time.

• Before adding size, I ask:
  "Will I be okay with this decision tomorrow morning if the market gaps against me or reverses sharply?" If the answer isn’t an immediate yes, I don’t add.

2. Strategies

I trade only two strategies: pullbacks and breakouts. This keeps things simple and repeatable.

Pullbacks

💡 Market Condition: Rising Strongly / Declining Strongly

Entry Rules

• Price must pull back to the moving average it most frequently respects: 10EMA, 20EMA, or 50SMA.

• Low volume on pullback.

• Enter on reclaim of 10EMA or 20EMA on the hourly chart, confirming strength and volume.

• Entry window: 11AM.

📌 V-Bottom Pullback Exception:

• Price closes below 50SMA on a sharp selloff in a strong stock.

• Look for reclaim of 10EMA or 20EMA on the hourly chart with volume.

Breakouts

💡 Market Condition: Consolidating with an uptrend/downtrend intact on the weekly chart.

Entry Rules

• 1.5 to 3-month base formation on the daily chart (double bottom, triple bottom, Wyckoff spring, flat base).

• Weekly chart confirms trend: Price holding 10EMA, 20EMA, or 50SMA.

• If price pulled back, it must reclaim the level before entry.

• Entry window: After 1:30PM, check for volume increasing/momentum building.

• Volume must confirm breakout.

3. Profit Taking 

Last year I started to scale out (on every trade!) and it has been a game changer. This is what I generally follow:

• 50% - 100% gain or first key level: Sell 25%

• 100% - 200% gain or second key level: Sell 50%

• Remaining contracts: Sell when price is extended from the 10EMA and showing signs of exhaustion, or when price becomes choppy

4. Daily Trade Management Schedule 

Structure reduces emotional decisions. I don’t sit and watch the market all day (usually😅). I set check in times which help me make clear, unbiased, objective decisions.

🕖 Pre/Post Market – Prep Work

✔ Draw trend lines & mark key levels.
✔ Set up watchlist & “Oh Shit” alerts.
✔ Update profit/loss levels on open positions.

🕚 11:00 AM – First Trade Window

🔹 Look for pullback setups.
🔹 Check open positions against pre-drawn levels.
🔹 Adjust stops if needed.

🕜 1:30 PM – Afternoon Checkpoint

🔹 Evaluate breakout or pullback setups.
🔹 Sell positions/contracts at profit targets.
🔹 Adjust stops for remaining trades.

🕟 3:45 - 3:55 PM – Final Decisions

🔹 Cut losses if needed.
🔹 Adjust stops on open trades.
🔹 Final check on risk exposure before market close.

Why My Plan Works For Me

I don’t trade better because I have a plan, I trade better because I have a plan I know how to use. Since commiting to my own tailored system I have rarely second-guessed myself, I have traded with more confidence, and I feel a lot less FOMO because I trust my process. ❤️

Market Outlook

Now let’s get into the charts!

The S&P 500 spent last week moving sideways, with buyers attempting to push the index higher each day, only to see those gains fade by the close. Friday’s move came on decent volume, but price remains below key levels, making this week’s direction critical. Will this bounce have follow-through, or is it just a pause before another leg down?

The weekly chart shows the index holding onto the 50SMA, which also aligns with a major prior support/resistance level. If this level holds, the market could stabilize and attempt another move higher. If it breaks, it opens the door to further downside.

Key Levels to Watch

• Support Levels:

  • 5,504 – First major support below current levels

  • 5,400 – A prior consolidation zone where buyers could step in

  • 5,294 – Next downside target if 5,400 breaks

• Resistance Levels:

  • 5,674-5,773 – The first area of potential rejection

  • 5,864 – Just under the 20EMA, a key battleground

  • 6,000 – Psychological resistance and previous support-turned-resistance

  • 6,120 – Area of all-time highs

Potential Scenarios

🔵 Bullish Scenario:
If the S&P reclaims 5,674-5,773, buyers could push toward 5,864 (near the 20EMA). A close above 5,864 would open the door for a larger move back toward 6,000, but bulls need to prove strength. If price closes above the 10EMA and holds, momentum improves.

🔴 Bearish Scenario:
If we continue up, the price may still roll over after hitting (or maybe even spending some time above) the 200SMA and 10/20EMAs, which are stacked as resistance. This area aligns with 5,864-5,942, a potential rejection zone where sellers may return. If price fails at this resistance, a move back toward the 50SMA or lower could unfold. If last week was just a sideways pause, we could see another leg lower without a bounce.

⚖ Neutral Scenario:
The market continues chopping sideways between the upper and lower moving averages. The weekly 50SMA is acting as a key pivot, and the market may hold this level before making a decisive move.

Stock Analysis

NVDA

Last week, NVDA bounced off support near 114 and climbed back above short-term moving averages. But now, it’s at a major test: Is this a true reversal, or just a short-term relief bounce before another drop?

A part of analysing comes down to how we draw trendlines, and that’s what I want to break down before getting into the trade scenarios.

Trendline Analysis – Two Ways to View Resistance

Trendlines are great tools, but they can be subjective. You can make a case for something in multiple ways, which is why it’s important to let the real-time price action and volume do the talking.

Looking at NVDA’s chart, I originally only drew that steeper downtrend line (dotted) that captured the sharp February-March decline. On this trendline, NVDA has broken out, which looks bullish.

When I zoomed out, and I noticed a broader potential resistance zone. Drawing a less steep trendline from the highs in early February, NVDA has now rejected this line twice and closed right against it on Friday. So, while it looked like a breakout at first, this second trendline may suggest the breakout could potentially be a bounce.

So, what does this mean?

• If NVDA clears this second trendline and holds above 129-134, it strengthens the case for a bigger move up.

• If it rejects here again, it could roll back over, making this an ideal area to watch for a potential short.

Key Levels to Watch

• Support Levels:

  • 114 – First support

  • 105 – Key prior support where price bounced

  • 97 – Critical breakdown level

• Resistance Levels:

  • 129 to 134 – Major resistance zone, includes the 200SMA, 50SMA, and broader downtrend line

  • 143 – Previous breakdown area and next major upside target

  • 153 – ATH resistance if momentum continues

Potential Scenarios

🔵 Bullish Scenario:
If NVDA holds above 114 and keeps pushing, the first real test is 129 to 134. If it breaks through that zone and holds, we could see a move toward 143 to 153. For bulls, a breakout above 129 could set up a run toward 134 to 143.

🔴 Bearish Scenario:
129 to 134 is not just moving average resistance, it’s also where NVDA has rejected twice off this broader downtrend line and closed against it on Friday. If price stalls here again and rolls over, it strengthens the case for a move back to 114 or lower. Even though volume was decent, it didn’t really spike, so I’m cautious about this being a real breakout. For bears, this is a solid put setup if price stalls or rejects at 129 to 134.

⚖ Neutral Scenario:
If NVDA chops between 114 and 129, it just means it needs more time. This would let the moving averages reset before making a bigger move. If the market stays choppy, waiting for a clear breakout or breakdown makes the most sense.

PLTR

PLTR found strong support on the weekly chart, holding above the 10EMA, a key horizontal level around 77, and a long-term uptrend line. Buyers stepped in last week, pushing price higher and reclaiming the 10EMA on the daily chart.

Now, PLTR is testing a key resistance zone between 86 and 90, where the 50SMA, 20EMA, and 10EMA sit. If it clears this area, there’s room for continuation higher. With the weekly chart showing strength, PLTR is in a good spot, but it still needs confirmation above resistance.

Key Levels to Watch

• Support Levels:

  • 77 – Strong weekly support where buyers stepped in

  • 71 – Next key support if 77 fails

  • 63 – Deeper support level

• Resistance Levels:

  • 86 to 90 – Major resistance zone, includes the 50SMA, 20EMA, and horizontal resistance

  • 100 – Next upside target if price clears resistance (previous gap up)

  • 111 – Breakdown area after new ATH

Potential Scenarios

🔵 Bullish Scenario:
If PLTR holds above 77 and breaks through 86 to 90, buyers could push price back toward 100. The weekly chart shows strength, so if momentum continues, there’s a solid case for a move higher.

🔴 Bearish Scenario:
PLTR is testing a tough resistance zone between 86 and 90. If buyers can’t push through, sellers could step in, bringing price back toward 77 or lower. For bears, this presents a put opportunity if price stalls or rejects here.

⚖ Neutral Scenario:
If PLTR chops between 77 and 90, it signals indecision. This would allow moving averages to catch up before the next major move. If we see this, waiting for a breakout or breakdown makes the most sense.

Next week may give us more insight into the next direction, but it’s just as important to recognize that the market could just chop around. (Technically, sideways is also a direction!) A well-structured trading plan keeps us in tune with price action, helping to stay aware of biases and to be focused on risk management. It’s not about predicting every move, it’s about being prepared, patient, and letting the setups come to us. Remember, our job is not to react, but to assess, then act.