One thing I do before the open is develop a game plan. What stocks do I want to trade first? What prices do I want to enter positions? This helps a trader to not get overwhelmed when the market opens. There is all this data flashing buy on multiple screens in nanoseconds. Sorting out your best stocks and best trades before the open helps you not miss good trades.
So for today I narrowed my trading universe to:
And drilling deeper I wanted to most focus on being long $TWTR if it could hold above 14.
Also a good habit to develop is to continually place alerts throughout the trading day. What is a great long and where? What is a great short and where? When a stock hits this price an alert goes off on my trading platform so I do not miss the opportunity.
In addition, leverage technology to spot your best setups. Consider building filters that find your best setups. One goal I had for writing The PlayBook was to help traders understand their best trades. And then after they built their Playbook, said another way- build their business, they are in a position to leverage technology. Take the next step. From your PlayBook, build filters that scan for your best setups.
I hope these three ideas help you catch more of your best trades.
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*no relevant positions
