Painting the Tape – Episode 6: Should You Create a Hard Trade Plan?

Hosts: Leo, Stowe, AJ

[00:00] Introduction & Banter

Meet the hosts and catch up on life updates, including macro calls, market moves, and some friendly banter.

[03:20] Episode Theme Introduction

The hosts introduce the main topic: trade plans and levels, and set the stage for a deep dive.

[07:10] Personal Trading Journeys

Each host shares their early trading experiences, mistakes, and how their approach to trade planning evolved.

[11:34] The Problem with Predefined Levels

Discussion on the pitfalls of rigid trade plans, the bias they can create, and the importance of adapting to real-time market information.

[16:35] The Role of Context and Flexibility

The hosts explain how their planning shifted from marking levels to focusing on context, market environment, and execution flexibility.

[21:55] Backtesting, Data, and the Reality of Edge

A deep dive into the challenges of backtesting levels, the difference between discretionary and mechanical trading, and the importance of finding what works for you.

[32:10] Rituals, Habits, and the Value of Process

The importance of daily rituals, preparation, and building habits that ground traders in the face of uncertainty.

[38:30] The Myth of “Safe” and “Unsafe” Trading Days

Rant segment: The hosts challenge the idea of “safe” vs. “unsafe” days, discuss risk management, and the importance of finding your own edge.

[52:51] Trade Reviews

The hosts review recent trades, including both winning and losing examples, with detailed context and lessons learned.

[1:04:00] Closing Thoughts & Listener Call to Action

The hosts wrap up with final thoughts, invite listener feedback, and encourage trade review submissions.