How to formulate a trading plan?

The key judgments actually come down to three:

1. What is the current trend? Is it bullish, bearish, or sideways?

2. Where is the price now? Bulls look for support, bears look for resistance, and in a sideways market, we look at the range edges.

3. Is the position appropriate? You can only act at key levels; if you're away from key levels, stay put.

Finally, market fluctuations ≠ trading opportunities; only fluctuations within the strategy are opportunities!