A plaque remaining from the Big Apple Night Club at West 135th Street and Seventh Avenue in Harlem.

Above, a 1934 plaque from the Big Apple Night Club at West 135th Street and Seventh Avenue in Harlem. Discarded as trash in 2006. Now a Popeyes fast food restaurant on Google Maps.

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Entry from October 23, 2008
“Plan your trade and trade your plan” (Wall Street adage)

"Plan your trade and trade your plan” is a popular bit of investment wisdom, cited from at least the 1990s. “Plan your trade” means to prepare adequately; “trade your plan” means to execute that plan according to your preparations.

One 2000 citation (below) credits the adage to trader Eric Patterson. The similar expression “Plan your work and work your plan” dates to the 1880s and the scuba expression “Plan your dive and dive your plan” has been cited in print since 1970.

Trader Interviews 2008-08-07
Trader Profile: Eric Patterson

Eric Patterson has been trading since the “good ‘ol days” of SOES bandits and Block Trading. He’s traded successfully through bull and bear markets and has completely automated his system to find opportunities, buy and sell. He executes 1500 to 2000 trades a day. Here we talk about what puts him in the top 1% of all independent traders and the keys to his success in the markets. A fascinating look at a great trader with a totally automated system. 

Google Groups: misc.invest.futures
Newsgroups: misc.invest.futures
From: (Daytrde)
Date: 1995/05/13
Subject: the view from malibu - free trial offer

plan your trade and trade your plan.

Google Books
A Beginner’s Guide to Day Trading Online
By Toni Turner
Published by Adams Media
Pg. 163:
Plan Your Trade and Trade Your Plan

Google Groups: misc.invest.stocks
Newsgroups: misc.invest.stocks
From: Mary
Date: 2000/10/15
Subject: Good post

As Eric Patterson’s adage says, Plan your trade and trade your plan.

Google Books
Steidlmayer on Markets:
Trading with Market Profile

By J. Peter Steidlmayer with Steven B. Hawkins
Hoboken, NJ: John Wiley and Sons
Pg. 183:
Simply stated, plan your trade before you execute. And trade your plan after you execute.

Google Books
Trade Your Way to Wealth:
Earn Big Profits with No-Risk, Low-Risk, and Measured-Risk Strategies

By Bill Kraft
Hoboken, NJ: John Wiley and Sons
Pg. 13:
Hopefully, by the end of this book, you’ll have a plan in place so you can follow the old adage “plan your trade and trade your plan.”

Posted by Barry Popik
New York CityBanking/Finance/Insurance • (0) Comments • Thursday, October 23, 2008 • Permalink