Trading Psychology: Preperation Checklist | stockbee

12/01/2009

Trading Psychology: Preperation Checklist

This is the kind of checklist and planning I use to get ready for every trading day.
1What is your market bias today?
Is there a plan to exploit it?
Is there a alternative plan?
2What homework have you done for trading today?
What are 2-3 pre identified opportunities?
What is your plan for each open position?
3What is working in the market currently?
What sectors are leading the market?
What style is working (growth, value, momentum, contrarian, junk)?
4Are you set up for trading today?
Is your hardware in proper condition?
Are your software's set up for trading?
5Are you calm, excited, harried, or confused?
What can you do to be in calm and controlled state?
What is driving your emotional state
6What is your plan today for enhancing your:
market knowledge
your trading skills
your psychological control
7What 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?

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