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SO YOU WANT TO TRADE ONLINE
TRADERS GETTING ORGANIZED
TRADERS LESSON ORDER TYPES
TRADERS LESSON ORDER ENTRY
TRADERS LESSON STOP ORDERS
TRADERS LESSON SELLING SHORT
UPGRADES AND DOWNGRADES
MARKET INSIGHTS
TRADERS LINKS 1
TRADERS LINKS 2
TRADERS LESSON TRENDLINES
TRADERS LESSON CHARTS and TA
TRADERS WORKSHEET
When To BUY and SELL
TRADING LESSON THE OPEN
TRADING STRATEGY EARNINGS
STOCK and MARKET NEWS
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| Traders Worksheet |
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| preparing for the next trading day |
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As a short term trader, daily preparation is the cornerstone in acheiving success in your trading. (short term meaning - trading for the day, a few days or weeks) If your looking to buy or sell a particular stock tomorrow ...how do you know what a good entry or exit point would be ? Consider this: Does a person drive to a destination with out a roadmap - directions, does the boater go out to sea without a compass, or naviagtion equipment? Obsviously not, otherwise they 'd be lost, so what's so different about a trader, would you not be lost without some sort of research, gameplan roadmap? It takes gathering up all pertinent information for all the stocks your considering trading in...which leads us to the the "Traders Worksheet" If you have started learning stock charting and technical analysis great, if not and if your just a trader who trades on company fundamentals you still need to learn the basics of stock charting. ( bar charts, line charts). remember where's the map? here's an example of a format for a traders worksheet TRADERS WORKSHEET
Here's an example of a traders worksheet
Trader's tip ! drawing trendlines on a weekly chart can help you better anticipate the likely volatile price swings your stock could take in the upcoming week. Other data key to keep on hand noted at the top of the worksheet is, when is the company's next earnings announcement due. (as well as other key companies in the same sector) what was the last upgrade downgrade announments, did analyst issue price targets ? earnings.com is a great source for this information they have a excellant calendar feature that can be used for this. lastly buying at the low and selling or shorting at the high, while that would be the optimum goal it is a very hard and difficult. If your a seasoned trader you know , if your a new trader you will soon find this out. It is best to sets your sights on getting near , not at these precise extreme points. You will miss out on a lot of profitable trades if you do so. That is why planning ahead getting the data for the stocks you trade (traders worksheet) will give you an edge up when the market opens for the trading day. Example : Csco at 22.50 and from your examination of its chart from yesterday's close you notice the 50 day MA is at 21.00, you also notice a trend line seems to line up at that point, you also notice several technical indicators point to oversold, (stochastics for ex.). So as trading day begins you sit and wait and watch the trading action to see if CSCO trades to 21, and holds...if it holds you buy , if not and trades further down you have several options: forget the trade today stand back and analyze it's chart again after the close go short risky if you are not a seasoned trader forget this trade entirely and move onto a different stock Having said that, it is best each day to have a few stocks that you have researched the day before, (not to many , you'll get to confused) this way if one stock your keying in on is not working out you can concentrate on another stock that is behaving like you anticipated, or giving you a better probability for a profitable trade. |
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