Last week I laid out the mindset that I apply to my trading. I treat it like combat. Period. A hostile environment that requires intelligence gathering, detailed planning, discipline, and risk management. There's a winner and there's a loser. Super execution is required to win. One wrong squeeze of the trigger and it's over with. You need to know when to abort to minimize losses so you can live to fight another day. This is an environment that I am very comfortable working in and the same processes and methodologies that helped us win in combat are the same ones I apply to my trading. Let's apply some combat trade planning to a well known name in the alternative energy sector, First Solar ( ( FSLR). I'll employ a proprietary seven-step planning process that we teach in depth at Fox3 Options . Strategic Mindset: All of your trading must start at the strategic level, not the tactical level. Strategy guides tactics, not the other way around. When you hear someone say "I'm going to use this strategy" and then lays out a specific trade...run...run as fast as you can. Someone who doesn't know the difference between strategy and tactics is going to make a smoking hole in the ground. That person is going straight to tactical execution without doing the proper planning. Not good. We have four strategic trading mindsets: Bullish, Bearish, Volatile, and Neutral. With the current market conditions my strategic mindset is Volatile. Target: Our Target is simply the underlying asset we are looking to open a position on. We are targeting an asset because we have clearly defined our Strategic Mindset on the target and we think we can profit from an options position supporting this mindset. It is earnings season and looking at my radar I've selected a target (stock) that I think is a perfect candidate to trade in this volatile market: FSLR. Fundamental data: Earnings should be coming out between July 3 to August 9. The specific date is not set with FSLR and floats for different periods.