Trade Preparation Premarket Trade Checklist1. Review the markets and/or individual stocks in the market.2. Review the relevant upcoming news for your stocks.3. Check for economic reports released before market open.4. Review trading plan: if a market or stock is likely to have a gap open that could affect the original trading plan, adjustments may need to be made.5. Print out account statements from the day before, review for any errors.6. Check account to verify any open positions starting the day.7. Check the amount of Capital available for trading.8. Set price alerts on charts for pattern completion areas or stop alerts or profit objectives.

During Market Hours Checklist1. Monitor patterns, prices, and open trades. Have patience to wait for your trades to set up. Try to avoid watching each tick unless you are a very short-term trader. Watching each downtick and uptick can wreak havoc on a traders mental well-being and can be the cause of impulsive trades. Set audio alerts when possible.2. Note any observations on prices or patterns that you want to review later.3. Take frequent breaks during market hours.4. Online chat rooms can be excellent learning tools, but beware of entering trades that are not part of your trading plan or trading setups that you have not studied for yourself.5. Close out any day trades before the close. Do not turn a losing daytrade into a position trade by holding it overnight.6. Trade what you see not think.

After Market Hours Checklist1. Always check accounts before closing trading platforms to ensure any open positions are correct and that closed positions are closed.2. Check the profit/loss in the account against your intraday trading records.3. Check to ensure the number of contracts or shares traded is correct.4. Record all order numbers and trade transactions. See Figure 14.1 for an order sheet example.5. Update spreadsheets for keeping trading data.6. Update any hand charts or other data.7. Note any trading opportunities for the next day; this is the time to do general homework to prepare for the next days trading. This would include scanning markets and individual stocks for patterns.8. Evaluate any open positions to determine stop-loss orders, profit targets, and so on.

Market Analysis Checklist1. Look for upcoming news.2. Determine trends and major and minor support and Resistance on Daily and 4-Hourly Charts.3. Look for consolidation on daily charts for possible lass kiss trade.4. Look for possible setups on the daily and 4 hour chart.5. Make predictions and suggestions and stick with your decisions.6. Strike during the hourly chart.