Day Trading Checklist

A day trader should have good reasons for entering a trade. All too often emotion takes over and day traders jump into positions just because they are moving and without proper attention to support and resistance levels.

It is imperative that the nature of the stock you are playing on the day is understood.

THIS MEANS IS A STOCK IS POSITIVE ON THE DAY PLAY LONG.

IF A STOCK IS NEGATIVE ON THE DAY PLAY SHORT.

A Day Traders must have perfect patience in order to achieve perfect timing. Wait for a stock to pull back a little then show you it wants to continue in the direction it is going.

Reasons for getting in the trade:

1. Is the stock trending up or down?

2. Is there support at a level or resistance?

3. What is the support or resistance breakthrough level?

4. What is your entry point going to be?

5. What is the amount you will lose if it does not go your way?

6. What is the amount you wish to make in relation to price levels?

7. What time frame are you working with?

Download Checklist Sheet