How to trade? Rules

I would like to share my daily trading procedure. Below you can see basic tasks and questions for my trading session. It is plan for intraday or swing trading. There you can see my task before open market, during open market and during position in market. Before each trading session I comment all questions.

 

Before open market

Before open market I need to choose stocks, which I will be watch during trading session. Choose 4-6 stock before open market.

Macroeconomic analysis

How did other global markets trade? What is sentiment? BAD – NEUTRAL – GOOD

How do US futures trade? Is there any movement? DOWN – CHOP – UP

Check Trump’s twitter. Is there any important news? YES – NO

Read news! Is there any important news? YES – NO

Check macroeconomic calendar! Is there important notification? YES – NO

Check SP500 index chart. Is there any support/resistance, pinbar, moving average cross, volume, indicator? YES – NO

 

Companies analysis

Read company news! Is there something important? earnings, dividends, new products, etc. YES – NO

Check stock index chart. Is there any support/resistance, pinbar, moving average cross, volume, indicator? YES – NO

 

Trade strategie

Define input condition to open the position. When do you enter to market?

Define output condition to open the position. When do you enter to market?

Define duration of open position. INTRADAY – SWING

How long do you want to stay in position? MINUTES – HOURS – DAYS

 

Risk management

Define risk reward ratio

Define stop loss

Define profit target

Define alternative risk management in case of big volatility

 

Money management

What size of stack will you invest? ENTIRE STACK – PARTIAL STACK

 

During open market

What is the best stock from watching stocks?

In your opinion, which stock has the biggest increase potential?

Check macroeconomic news!

 

During position in market

Check candle chart! Is there opportunity for exit? S/R, moving average, indicators, etc.

Chek news!

Check macroeconomics data!

 

If you would like to see description of questions more detailed. Or if you want to see example my daily preparation, please let me know at marek.traders@gmail.com. I will open you my private section.

 

 

 


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