stockbee

9/26/2016

Stocks likely to make 8% to 20% move



MOMO GNW NRP DAKT SNMX RIGL WB ATEN STKL NTAP XIN OCUL CHGG GNCA CVGI SE KZ URBN BPOP GPRE CECE UAL VRA EZPW BAC TCB CY SNV CMA STI QTWO

9/23/2016

Bullish Anticipation Setups for today


HTHT
CECE
JD
OCN
MS
ACTG
MOMO
VMW
GNW
MMSI
IBKC
Q
BETR
IMS
NRP
CY
KZ
QTWO
BAC
DAKT
NMIH
CVGI
EZPW

9/20/2016

How I scan for swing trade ideas

I use Telechart Gold (with real time Data) for all my scans. In Telechart scans are called PCF (personal criteria formula). Easyscans is another Telechart terminology used for creating scans.

PCF stands for Personal Criteria Formula for Telechart Software. It is a formula that you write to add a new sort criterion to the program.. PCFs written in Telechart searches for various Patterns/conditions described by the formula(s)


pcf.png

4% breakout


This is a very simple 15 year old scan idea that  has made me few million dollar profit over the years. It is used daily.


4.png
Bullish  

c/c1>=1.04 and v>v1 and v>=100000

If you want to reduce low priced candidates add a filter of c>3


Bearish

c/c1<=.96 and v>v1 and v>=100000

If you want to reduce low priced candidates add a filter of c>3


$ breakout

As my acount size has increased significantly over the years I rely more on this scan to find swing trade candidates.
dollar.png
This scan is good for high priced stocks. It helps you find both intraday setups and swing trade setups.

Bullish

c-o>=.90 and v>=100000
you can add a filter c1<c2 to reduce number of candidates but it can also eliminate sock with low range positive day so I do not use  that.

Bearish
o-c>=.90 and v>=100000
you can add a filter c1>c2 to reduce number of candidates but it can also eliminate sock with low range negative  day so I do not use  that.

Bullish and bearish combo

c-o>=.90 or o-c>=.90 and v>=100000

Bullish and bearish combo with price filter

c-o>=.90 or o-c>=.90 and v>=100000 and c>=30




Episodic Pivots (EP)

Episodic Pivots Strategy has been one of the most profitable strategy over the years and is used to find position trades. It gives very few good ideas in a year.

Episodic Pivots are major breakouts that can lead to multi month or multi year rallies. They are triggered by some news events. The scan only gives you candidates for further study. You can find more details about this strategy on this site in sidebars.

c/c1>1.04 and v>3*avgv50.1 and v>=300000


EP.png



These scans are used daily to find swing trade candidates during the day. For finding anticipation candidates I use a different set of scans after the market close.







9/19/2016

How to organize yourself for trading everyday

Organize yourself for trading everyday

Everyday do the same thing over and over in a systematic manner.
Once you have a well thought out method the day to day challenge is largely about implementing your plan.
That requires setting up a daily routine and adhering to it as far as possible.

Situational Awareness

We know swing setups work, but overall market conditions can have impact on the % of trades likely to work. So SA helps you in controlling your trade pace. In good environment you want to be more aggressive. In bad conditions you want to focus on risk management.
Question you need to ask daily for SA:
What is your market bias today
Is there a plan to exploit it
Is there an alternative plan

Anticipation

Anticipation allows you to control risk and get in to setups early or as they are breaking out. Anticipation is also useful on current open positions. If you have thought through what you will do under different circumstances on your open positions you are in better position.
Question you need to ask daily for Anticipation:
What homework have I done to identify good opportunities ?
What are the 3 to 5 very high probability opportunities I must focus on today
What is my plan for existing open positions

What is working currently

Different phases of market favor different kind of stocks or setups. Some time beaten down stocks do well. Sometime stocks with momentum do well. Some time value or growth is in favor. Knowing what is working helps you focus on hot opportunities.
Question you need to ask daily for What is working:
What is working in the market currently
What stocks and sectors are leading the market currently
What style and setups are working currently
What kind of follow through is happening

The hardware and software

All our good plans or intentions or setups are of no use if our hardware or software fails or is not optimum for trading.
Are you setup for today
Is your hardware in proper condition
Is your software working without glitch
What is your backup plan in case of failure.

Your mental state

Your mental state affects your trading. If your are well organised and in proper frame of mind for trading you will be successful. If you are excited, harried, angry, disorganized you will find same thing in your trading.
Are you calm, excited, harried , or confused today?
Are there distractions likely to affect your trading today?

Continuous improvement

As a trader you need to focus at least 25% of your daily efforts on developing new trading setups and ideas and on enhancing your trading skill and knowledge of market. A purposeful plan to do this will cumulatively help you transitions in to new setups and ideas as market changes.
What is your plan for enhancing your market knowledge today
What is your plan for enhancing your trading skills
What is your plan for enhancing your trading mindset

What needs to happen for me to be a confident and in control trader

Do I have resources to get there?
Do I have the burning drive to get there?
Everyday using this kind of framework will make you a better trader . If you rigorously follow these kind of checklist you will see improvements in your trading in 90 days.

9/15/2016

How to use momentum to swing trade


When swing trading stocks with momentum the lowest risk entry is on first valid swing trading setup after momentum is established.

ren.png
REN above is an example of a anticipation setup that is more risky as of now.

In order to find momentum in above example of REN we are using Stockbee Trend Intensity Indicator TI 65 ( which gives you momentum for a quarter). The green zone indicates TI65 values above 1.05 and that confirms stocks has established above average momentum or is in Intensely trending period.

Once TI 65 is above 1.05 the first or second swing trading setup that develops due to pullback or sideways consolidation is the ideal buy setup. It is a trend continuation setup. In case of REN that successful setup was on August 4th. Earlier breakout on July 22 failed to follow through.

As you can see in the chart below that day it appeared in STIB ( Stockbee trend intensity breakout scan ) signalling swing entry. In next 14 days stock went up 162%. Subsequent breakout had much smaller 30% follow through.
ren1.png

Now it is again setting up , but now it is a risky setup as the trend has progressed for many days and chances of reversal or range bound action are more.

If you want to hold stocks for longer term swing moves then getting in to momentum stock early is key. Early entry allows you to hold it for longer duration as against 3 to 5 day hold for normal swing.

As momentum phase progresses stock can setup multiple times and offer swing trade opportunities , but risk increases as trend matures.

If you are looking for longer duration position swing trades or trend tardes  then focus on “Young momentum Candidates”

Look for stocks that have just entered momentum phase and are now having their first consolidation or pullback.

Here are some of the“Young momentum Candidates” setting up for possible breakouts:

anw.png

dakt.png

ocn.png

pahc.png

If you want to make money swing trading focus on “Young momentum Candidates”

9/14/2016

Bullish Anticipation setups for today


CFNL
OEC
CHGG
BLOX
NBHC
MB
OCN
HDSN
OXLC
NR
CECE
CVGI
TCBI
NGVT
WCG

To find stocks like this  study the post  that details how to find them: 

How to find anticipation candidates

9/12/2016

Stockbee 50: New entrants 09/12/2016

The Stockbee 50 is a list of fastest moving stocks in the market. These are stocks with above average momentum.

Stocks with good momentum keep going up. If you are serious about making money, it is a good idea to keep an eye on the stocks in the Stockbee 50 list.
Momentum ranking is relative and so stocks that gain momentum move up the rank and those that lose momentum drop off.
There 18 new entries in the Stockbee 50 list this week. The new entries at some point will setup again. Once they are ready, they can be entered as an anticipation trade or as a breakout trade.
There are 23 that dropped from the list this week. It is also a good idea to keep an eye on these as well as they might set-up again for a second leg up.
List of New Entrants:
CLCD UAMY NAVB CYNA CPHD APIC SORL ACW CHK AAOI NVLS VNRX NAV TIVO SBLK NVFY FSI BCEI
List of stocks dropping rank
ROKA SQNM TLYS AEPI AQXP OCLR FELP SINA HDSN SPAR KURA CSTM GSV BCOV HLIT DXPE EZPW AMD WATT FSAM AMBR KPTI LEE
From the list that has dropped ranking
TLYS FELP
is looking good. Both might need to go sideways for few more days before breaking out.

9/08/2016

Stocks move in the direction of the range expansion


Stocks move in the direction of range expansion. This is the basic tendency of stock market. 

HWAY above is a recent example of that. Stock had not had a positive range expansion for few months. A range expansion in 

If a stock has not had a range expansion of certain magnitude for a considerable period of time and then suddenly has a range expansion, it is a signal that stock is likely to  move in the direction of the range expansion. 

BID is another example of same phenomenon.



In July BID had a range expansion to the bullish side and from that it moved in the direction of range expansion.

If you want to make millions trading then study this phenomenon in the market and exploit it. All successful setups in market are developed from such basic underlying market observations over thousands of stocks.

Once you understand this tendency of stocks , all that you need to do is develop your setup and process and wait for next good setup to show up.

BCRX shown below is an example of that kind of setup showing up yesterday along with bunch of others. Last time it had range expansion it made 50% plus move in few days.


If you are really serious about  making money  trading stocks , master swing trading setups like these. 

9/07/2016

Bullish Anticipation Setups for today

MTZ ELLI BID AMKR EXAR UNT DVN ZLTQ CVLT VIAV GLW HPQ NCI HRG INST HTGC AWH SREV CERN RACE TRN

9/06/2016

Stockbee 50: New entrants 09/06/2016


The Stockbee 50 is a list of fastest moving stocks in the market. These are stocks with above average momentum.

Stocks with good momentum keep going up. If you are serious about making money, it is a good idea to keep an eye on the stocks in the Stockbee 50 list.
Momentum ranking is relative and so stocks that gain momentum move up the rank and those that lose momentum drop off.
There 27 new entries in the Stockbee 50 list this week. The new entries at some point will setup again. Once they are ready, they can be entered as an anticipation trade or as a breakout trade.
There are 25 that dropped from the list this week. It is also a good idea to keep an eye on these as well as they might set-up again for a second leg up.
List of New Entrants:
PSG PI HLIT SKLN LEE SPU CRNT MSTX ABEO SINA FELP OCLR EMES CSTM BREW CRK TLYS PQ AEPI FSAM KURA AQXP NTP ROKA KPTI MPET RJETQ
List of stocks dropping rank
ENRJ CPRX SPHS ATRS SNMX NYMX KRO GNW VNDA DAKT CVGI MX SNSS AOSL KTOS CSII ANW ELMD EVH LPTN CLNE PCMI AMDA IPDN ETAK
From the list that has dropped ranking
ANW
is looking good. KRO and DAKT might need to go sideways for few more days on low volume before breaking out.

How to find stocks setting up for breakouts


To anticipate a breakout look at stocks currently not undergoing momentum burst.

Stock should be in extremely low momentum phase for anticipation .
It can be a shallow pullback or consolidation in established momentum phase.

To anticipate look for stock with extremely low volatility

A stock with low volatility in last 5 to 10 days is ideal candidate as part of a continuation setup.
Look for series of low range bars in last 5 to 10 days
Look for stocks with bollinger band squeeze.

Avoid Anticipation setups on extended stocks

First or second anticipation setup in established trend is best
Extended trends needs to be avoided for anticipation as failure is high on them

Look for early entry on anticipation candidates

Anticipating a breakout helps you get an early entry and can improve your per trade profits.
It also can lower your risk as your stop is closer.
It can help you profit from even smaller moves.
For that entry without waiting for breakout is best.

Anticipation requires more pre planning and effort than buying a breakout.

You need a process flow to do that.
The process should be efficient and done daily after the market close.
The suggested process flow is a template you can develop your own process.

Only 3 to 5 quality ideas should be tracked

"A" grade pre Momentum Burst setup should be your first priority
Once you have list of anticipation setups narrow them down to 1 to 5 for next day action.
Quality is more important than quantity

In order to find Bullish Anticipation setup use DT and TI 65 lists in Telechart

Double Trouble Scan

US common stocks
c/minl252>=1.8 and minv3.1>=100000
Price % change Today between 1 to -1%

TI65

US Common stocks
avgc7/avgc65>1.05 and minv3.1>100000
Price % change Today between 1 to -1%

MDT Above 1.19

US Common stocks
c/avgc126>1.19 and minv3.1>100000
Price % change Today between 1 to -1%

After running these three scan merge them together as some stocks will be common.

Go through the list to find setups that are setting up for possible b/o

What to look for in good anticipation setup

series of narrow range days in pullback/consolidation
orderly pullback with no 4% b/d during the pullback or consolidation
low volume pullback
low volatility during pullback
linear first leg if looking as continuation setup
Stock should go up smoothly and not in volatile manner
3 to 10 days consolidation/pullback
not up 3 days in a row
This entire process once setup tales just 20 minutes daily. You can find 5 to 10 good set ups using this process daily. In good market conditions these setups can make 8 to 20% in just few days. So if you are serious about making money swing trading setup these scans and practice finding good setups. 
Anticipation Watchlist 
these are stocks i am watching for possible breakouts.
OPTT INST DXPE FLXN BWLD INGN ARDX NVRO PETS TBPH RTK OLLI LOCO TNET AIMT VAC PGND FDP ACIA YRCW VSAT SQ ITCI ISRG TWOU ANW BDC NSM ERII ZLTQ IPHI UIS DNB FCN SPNC ABCO ZBRA BID SALE CVLT SCSS OFG UNT PCLN BHE PODD SMG AWI KLXI NCI NUS SUPN SREV TPX EME CTB MIDD MHK ENLC PES MTZ YELP XPO FFIV MBFI STAR AZPN IRWD HTH LLL IFF WMGI CGNX PVH DXCM ECR DKS AWH URI LSCC LPI EXAS VAR EXTR AMKR MBI HRG RACE ENTG TPH PH CNX SWK FBHS PGRE TRGP CMI ARIA NTAP SWKS JBL HUN CIT QGEN EW BDX QEP HOLX BBY TRMB GRPN NAVI YNDX GNTX MXIM CERN ADI PAYX SLM MAS UAL NXPI YUM KKR MPC AAL MMM TWX UNP TXN CSX GLW AIG BSX QCOM HPQ FB MSFT JD BEL CX BSBR ERF NGVT

9/01/2016

Bullish Anticipation Setups for Friday

ACIA EBIO YRCW PBYI IDXX ZLTQ MGNX IMS ITCI DAKT CHRS PODD ALGN MKSI ANGI DAN VIAV ESL HWAY VAR UNT LYV EXAR AMKR DXCM LTXB SKYW ANET KMX SMG PE RUN CNX JBL CRESY MRK HPQ CERN CGNX JACK MAS OXLC OME ETP INGN PAYX APD CVLT PBR S AWH PATK TNET YNDX NAVI CVG TRGP SM GLW DKS GD RGEN SPNC HOLX SON VIV CMI VAC TSN GOOGL ABCO AMGN GOOG NCI WBC RACE ERII TXN FN BHE XPO RICE TEL BIIB NTAP TRMB QGEN DNB SREV MBFI AMH CTB ILMN NSIT INN PH LOCO SSTK FFIV OSK ENLK BID TEN AAPL WING DPZ HAR NUS IILG NDSN CR NWL NXRT GNTX TPX BWLD XXIA OFG HRG BEL FMSA AAL PETX SCSS WWE TKR NBR AVID UIS ALK XIN CAT CENT FET PWR IRBT FL COHR SWN MIDD FRAN USAT GPRO BBY PN CWST KMT CNQ URBN MTZ DXPE QEP CHGG ERF CPA

8/31/2016

Why you should focus on setups

In your trading journey you will have significant breakthroughs once you learn the language of setups. Profitable traders think in setup language while novices think in individual stock term.

Setup is a set of conditions that needs to be present for a stock to be considered for trading. A setp definition includes what kind of stocks to trade, when to enter them, where to put stop, where to exit , and how to manage the trade during its lifetime. 

If you see many trading blogs or services they talk about  several tickers without setup context. You should just ignore them unless setup behind that ticker is clear and can be explained in plain English.
If someone just  highlights a ticker grill them about their setup and process.

Setups and processes can be learned and duplicated.

If you understand and perfect a setup you do not someones stock picks. If you know the setup you can find and trade same stocks as the other person without relying on their pick. 
Many traders are secretive about setups as they know if setup is shared then why would anyone pay for their picks. 
But if you want to be independent and profitable trader you must focus on setups and ignore all stock picks. Once you learn a setup idea you can find your own picks.

Do a systematic hunt for setup. Most commonly used setups have survived for hundreds of years.
Look for and study most commonly used setups and learn the basic market structure behind them. From those setup ideas select few and focus on them. 
Setup oriented thinking is process based thinking. It involves series of steps to be followed with logical reasoning for the same. 
It is how do I find this kind of stock again and again kind of thinking. It is about ways to catch a  fish.

Setup selection is key to successful trading.

Setup selection allows you to condition your behavior.
It allows you to develop your procedural memory. It allows you to automate your thinking.
Lot of people think psychology is most important, but it is not unless you have right setup. If it was all about psychology , then most successful traders will be psychologists.

When it comes to setup selection your time frame is very critical.

A setup that is good for day trader may not be good for swing trader. A swing trading setup may be extended setup for position trader.

The steps in trading expertise development are:

Vehicle selection
+
setup selection
+
procedural memory development
+
self efficacy beliefs
+
situation awareness
+
risk management
+
right psychology
=
Profitable trading

If you want to make millions trading , first find a good setup idea.

8/30/2016

Bullish Anticipation Setups for August 30, 2016

As the market is going sideways for a month or so , many stocks are also going sideways and setting up for possible breakout if market breaks out to the upside.

As of now I have over 150 stocks in anticipation watch list. The market consolidation is the main reason for such a huge number.

REN RICE ERF ECA EXEL SM EROS PE ININ GRPN ERII MTZ CRUS KEYW DKS GIMO SPNC TASR VIV FN XIN COHR UPLMQ ETSY URBN CPA TTMI LPI EBIO AROC CTRL CWST OFG EXAR CGNX KMT CNQ MELI QEP FET HPE IDCC DECK YNDX NR OSK PRTY CR VAC FICO WING MKSI PN NTRI DNB AMH NTAP XPO MCHP CVLT JEC SPB MUR FFIV TRMB TXN PH CHRS BGFV DXPE SMG CSOD SON QCOM MAS ANW CHTR SPGI GLW NSIT SCSS VSAT TEN NWL CAT NCI AZPN TKR BEL CVG INN MIDD MRK PFPT ETP ODFL WWE BABA CYTK SNCR FLT PAYX ACGL DE ENLC LHO OME OXLC IRBT IILG GNTX TPX DXCM SREV BLOX TSEM LOCO DSW TNET ICE AWH CERN MXIM ENLK ANGI AMGN MHO STT MSFT CHGG GOOGL FL GOOG AAPL AIG XXIA STRZA GS UIS C JBL HAR CTB ASNA LM FF AAL ABCO IMPV OMF EGRX RUN


8/22/2016

Work on procedural memory to improve your trading


Procedural memory is memory about how to perform procedures.
We have as an adult thousands of procedural memory. We perform these processes without thinking.
Driving a car is about procedural memory. We drive effortlessly without thinking. We are not even conscious of the process unless something happens.
Shaving, brushing your teeth, washing dishes, cooking, and many other things are stored in brain as procedural memory where we can do them without thinking.
The day you realize trading success is about developing procedural memory specific to a setup or style of trading , you will be on path to success. You will do things that will enhance procedural memory.

Trading success is about developing expertise. When you try and develop expertise you train your procedural memory.

As a trader you need to develop a setup specific procedural memory. If you are trading 4% or $ b/o , you need to develop procedural memory specific to that setup.
Same way if you are going to trade anticipation setup and want to buy first viable setup on stock with momentum, you need to develop procedural memory about it.
Procedural memories are implicit memories. They allow us to lower cognitive load. They are learned intuitions.

Procedural memory is memory about how to do a process. It is stored in memory as one schema.

A process containing say 32 steps is not stored in memory as 32 discrete step but as one sequence of step. When performing that task the brain efficiently recalls all those steps simultaneously so you can do the task effortlessly.
Procedural memory helps free up the brain to do other things.
It frees the brain by reducing cognitive load. We have thousands of procedural memories developed over our lifetime. They make our life easy.
As a infant we have very few procedural memories but we quickly build them as we grow and they become part of us.
For example take a simple skill like swimming your teeth, it is a procedural memory once you develop it you can perform it without thinking or without focusing on a step by step sequence. But it takes us some time to develop.

Same is true of trading . If you read about trading or buy trading manual you will not develop procedural memory. You develop trading related procedural memory by doing actual trading . If you do a process thousands of time you develop procedural memory.

How many hours and tries are required to learn to swim or perform dance or gymnastic. It is same for trading.

If your setup is fast setup requiring fast entry and exit like say day trade , then procedural memory is even more important. You have to perform the task at speed without thinking too much.

New traders spend too little time developing procedural memory.

Before they can develop procedural memory they switch to new ideas and setup.
One day they ride bike for few hours struggle, next day do few hours of swimming and give up because water enters nose and ear, next day they try something new. In the process they do not have procedural memory for setup.

Stick with a setup for six months to a year to become good at it.

Procedural memory also allows us to do vast number of day to day tasks. Imagine if you had to learn to drive everyday, or learn to walk everyday. Life would be impossible without well developed procedural memory.
Same things happens in trading. As a trader you develop hundreds of procedural memories to make your trading effortless.

Where to enter, where to exit, where to abandon a setup without waiting for stops to hit, how to determine risk are all procedural memories developed through practice.

Finding anticipation setup is procedural memory. Once you develop it , you can quickly go through 400 to 500 stocks and identify those 5 to 6 good setups. No amount of instructions and manual can make you learn that skill unless you do it daily for say 90 to 100 days.
Most successful traders who survive the market for many years have developed a procedural memories specific to a style of trading or a setup.
They can instinctively trade those setups without thinking about individual processes or steps involved in that setup. They are not conscious of the steps.
A novice watching them trade many times do not understand their decisions. Many times they get out of a trade just before it hits a pothole or avoid certain trade that novice will take.
Lot of it is instinct developed as a result of procedural memory development. It is like a driver instinctively hitting breaks at sign of something on the road.
For discretionary trading it is all about procedural memory development on a specific setup.
If your efforts at training procedural memory to trade a setup or style are successful then you will become efficient in trading that style.
Once you learn a setup it become relatively easy to develop procedural memory on related style or setup.
But it is difficult to develop procedural memory on another instrument or style. That is why you will see many successful traders focus on very narrow niche in the market.
Some focus on growth investing , some focus on value, some on options, some on futures, some on currencies.
Within that they focus on very niche setup. Some trade say growth stock as swing trades, some trade them as position trades. These two setups require distinct procedural memories.
Most successful traders learn by trial and error that sticking to their setup is best because when they do it the procedural memory automatically kicks in.
As against that novice traders are ambitious, they want to trade as many setups as possible. They don't want to miss out on any style or instrument like option or futures. So they try and simultaneously develop procedural memory. That obviously leads to failure.
If we know that the key to discretionary trading success is procedural memory then why is it difficult to develop procedural memory?
To develop procedural memory you need highly structured environment.
When you learn to drive, it is done under structured environment. You learn it in step wise manner under close supervision. There is someone sitting next to you closely supervising every step and also ensures you don't get killed.
Every month you will see some young kid getting killed in car accident, and the reason is largely to do with lack of well developed procedural memory and bravado.
As against that much of learning to trade on your own is unstructured and unsupervised process unless you join a trading firm or a Wall Street trading house or bank.
You are your own instructor and you need to create your own structure and you need to give yourself correct feedback and you need to ensure you do not get killed by blowing up your account. And more importantly you need to persist for months in learning stage still it becomes effortless exercise.
If you want to develop trading procedural memory and make thousands or millions the first step is to put all your effort in developing procedural memory.
It is not about trying thing once, it is about the 500th attempt and the thousandth and three thousandth attempt that makes you effortless. That is what develop procedural memory. You can not do it in 15 days.
If you read the classic Wall Street books like How I made 2 million dollars in stock market by Darvas or Reminiscence of a Stock operator, you will see that much of the struggle depicted in those book is about trying to find a setup and a process and sticking to it.
Once Darvas found his setup and developed a process it was easy. In Livermore case he went from setup to setup and from day trading to position trading before making big money.
It is the same thing that happens on Stockbee site hundreds of novice join every year. Some give up in few months , those persist for months , six month, a year at some stage develop procedural memory and then they develop their own setups .
Some still stick around , because they find the environment enriching and motivating. They like learning from others and continue to improve.
Some become very good at particular style or time frame like day trading . They start their own site.
Some are scared of sharing their setup and secretive, they spend time talking in riddles. Some do not want to help others. But that is what makes the world interesting . Not everyone is motivated by helping others.
The Stockbee site fosters such ecosystem and survives the process as new traders bring in new ideas and new energy . And some old traders here take on mentor ship role to guide newcomers.
As a novice trader if you understand the role of procedural memory in trading you would approach the task differently. You will set process goals as against monetary goals.
You will focus on well developed setup idea with step by step instructions.
You will try and find someone to supervise your process and ensure you do not get killed during the earning process.
In most procedural memory development situation a apprentice model has shown to be most effective for learning.
When you attempt to develop procedural memory on your own, unless you are extremely motivated and driven (or the correct word according to psychologists is you have very high self efficacy beliefs) the task is difficult. That is why you will see few extremely motivated individuals make it in this field.
This is the reason most ordinary and less motivated traders fail before they can achieve profitability.
They blame markets or other things for it but in many cases the fault lies with failure to train procedural memory.
In order to develop procedural memory for any given time frame or style or set up first you need to start with well defined setup with clear step by step process led out with clear explanation for each step.
For example if you were to decide to trade a swing trade setup, you need clear well defined highly structured process that you can follow and master till you can do it on your own without supervision. That is why I and many other traders here repeatedly share processes, setup and repeat things till people get it.
That is why this site puts so much focus on becoming process oriented. The daily posts like Night Time is right time, Good Morning Wall Street, Anticipation as your tool box and so on are designed to drive the importance of procedural memory.
Develop process flow and develop procedural memory. Once you do that you are on your own.