Preparing for trading

[sherdog]

Hi Day traders!
How to prepare for the trading session? How do you seek "stock in play?" Do you use real-time scanners? if yes which ones? Do you read something before market open?

 

[Handle123]

Hi Day traders!
How to prepare for the trading session? How do you seek "stock in play?" Do you use real-time scanners? if yes which ones? Do you read something before market open?

Am sure others use news, high volume, dividend reporting, earnings reporting as methods for entry. I been trading past twenty years stocks of the DOW 30, so any time you study same stocks for a very lengthy time, you find that each have different personalities and their own unique price patterns.

I always check what the risk is first, if too high I wait till risk is lower, no sense in getting in if risk is high as these seldom works for my style of trading cause there is almost always a retrace to shake out the weak undercapitalized traders and that is where I am taking other side. I am also checking how far the trend has been, each market if you study back enough, 5, 10, 20, 30 40 years you pick up length of trends, if current trend is way past what a normal trend is, I am less likely to want to get in with regular amount of shares and if I do get in, very fast to dump half at a target and get to better than breakeven stops.

Much better to study first before actually start trading, get a good trading plan to answer all the "what ifs" of what to do after you have entered.

Good luck.

 

[Bob111]

5 days a week i woke up, take about 10 steps from my bedroom to my trading room,do my exercise while walking(scratching my balls) then i fell on the chair-*** i'm ready.
if your routine is different or you must do some yoga and ***,breathing exercises or whatever(dress 'appropriately')-you size is either too big or you are not sure what the ** you are doing.