Using a trading plan to manage expectations involves setting clear, realistic goals and guidelines for your trading activities. This plan should outline your risk tolerance, profit targets, and strategies for entering and exiting trades. By having a well-defined plan in place, you can avoid impulsive decisions based on emotions and stay focused on your long-term objectives. A trading plan also helps you manage expectations by defining what constitutes a successful trade, which can prevent disappointment or frustration when trades don't meet unrealistic expectations.