Wednesday, October 20, 2010

Checklist For Traders

Surgical teams at VA hospitals are reducing surgical deaths by using aviation and NASA types of checklists prior to surgeries. Maybe we should have a trader's checklist to reduce losses in trading.
  • What is the market's current momentum direction?
  • Is it testing support or resistance?
  • What is the expected range of the day?
  • Economic report releases?
  • Earning's releases?
  • What was yesterday's high volume price?
  • Where are the trader's pivots?
  • What were yesterday's high, low, close prices?


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