Options Trading: An Advanced Guide on Options Systems with Proven Strategies to Trade the Best Stocks and Become a Successful Trader. Step Out of Your Comfort Zone and Achieve Financial Independence
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Book Overview
Do you want to learn all the principles of options and become a successful trader once and for all? Keep reading...
You need to know how to organize your trading day effectively so that you can get everything done on time. Having a proper routine for your trades will ensure that you are consistent in everything that you do, which will support you in maximizing your profits from your trade deals.
Although each trader will go about their daily routine slightly differently from the next, every trader approaches their daily routine in roughly the same way. You should start with this basic trading routine and adapt it as needed while you grow to ensure that you are getting the most out of your routine.
I strongly advise that you keep a separate notebook where you can track your tasks, findings, and thoughts as you go about your daily routine, to ensure that you are staying focused and organized. This will also help you reflect later on to identify ways that you could possibly improve or streamline your routine so that you are even more effective in the marketplace.
In this book, you will discover:
...And much more
What you do before the market opens is crucial to your entire trade day. Most traders will begin their days around 6 AM EST, as this gives them plenty of time to get their day prepared before the market opens. The more prepared you are in advance, the better you will be able to utilize your time once the market opens to conduct actual trades and position yourself for maximum profits.
Before the market opens, there are four tasks that every single trader should engage in to help them get prepared for the day ahead.
These include conducting a market overview, locating potential trades, designing their watch list, and checking their existing positions. We are going to discuss how each of these tasks occurs so that you can get a feel for how you can build the beginning of your trade day around these strategies.
Market Overview
The first thing you need to do is conduct a market overview, which will allow you to catch up on what has happened overnight. Stocks tend to change overnight, so paying attention to this information is key in helping you lay the foundation for your trades ahead. Once you know where the market is at, you can get a feel for how that might be influencing your existing trades and how it might affect the next trades you plan on making.
The easiest way to conduct a market overview is to check out news platforms like CNBC or MarketWatch, as these tend to provide the best and most recent information regarding the stock market.
You want to pay attention to the overall market sentiment, the sector sentiments, and the current holdings. For the market sentiment, you want to see whether the general market is bullish or bearish, get a feel for what the key economic reports are, and pay attention to inflation and currency.
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