A 10 STEP CHECKLIST FOR BETTER DAY TRADING
Traders Checklist
1. Check the Over all Trend of the Stock or Index you wish to Trade
a. Plan Long Trade in Bullish Trend
b. Plan Short Trade in Bearish Trend
c. Avoid trading in sideways movement
2. What are Technical tools Saying
a. Is the Stock trading at support
b. Is the Stock Trading at resistance
c. Is the stock trading in between the support & resistance
3. Whether to buy in Oversold stocks or Sell Overbought Stocks
4. Do you want to Trade Breakouts
a. What is your analysis for breakout trading
b. Are you trading triangle, channel, or any specific breakout pattern
c. Which technical tool you are using for breakouts
5. Money Management Rules
6. Position sizing Rules
7. Risk – Reward calculation
8. Plan your Entry & Exits in Advance
9. Manage your Trade
10. Don’t Break the Rules