|1||What is your market bias today?|
Is there a plan to exploit it?
Is there a alternative plan?
|2||What homework have you done for trading today?|
What are 2-3 pre identified opportunities?
What is your plan for each open position?
|3||What is working in the market currently?|
What sectors are leading the market?
What style is working (growth, value, momentum, contrarian, junk)?
|4||Are you set up for trading today?|
Is your hardware in proper condition?
Are your software's set up for trading?
|5||Are you calm, excited, harried, or confused?|
What can you do to be in calm and controlled state?
What is driving your emotional state
|6||What is your plan today for enhancing your:|
your trading skills
your psychological control
|7||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?
Daily preparation checklist
Market provides several opportunities for us daily. Provided we are ready to exploit them. While the market is unknown variable and not under our control, if we do a good job of controlling what we can control, then there are few surprises. And even if there are surprizes we have planned for them.