THE ULTIMATE GUIDE TO A TRADER'S MORNING CHECKLIST.pdf

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THE ULTIMATE GUIDE
TRADER’S MORNING CHECKLIST
to a
TABLE OF CONTENTS
INTRODUCTION
LANE’S MORNING CHECKLIST
GREG’S MORNING CHECKLIST
3
4-7
9-10
Sometimes, it’s okay to take a page from someone else’s playbook – especially
when they are winning a lot of plays.
Have
you
ever
heard
the
saying
don’t
re-invent
the
wheel
We spoke with a top trader and the President of VantagePoint software to learn
what they do as part of their morning/evening routines and have put together the
ultimate checklist for you to follow.
MEET THE EXPERTS
LANE’S TRADER’S CHECKLIST
Lane Mendelsohn has been involved in the trading industry since 1993 and is the
President of Vantagepoint AI, LLC. He’s educated thousands of traders, helping them
become more successful in trading through his expertise with trading software.
GREG’S TRADING CHECKLIST
Greg Firman is a licensed Commodity Futures and Forex broker registered with the
Commodity Futures Trading Commission and the National Futures Association.
For more than 15 years, Greg has provided consulting, training and market analysis
to all levels of traders and is a regular contributer on various trading sites.
Copyright ©2019 Vantagepoint AI, LLC.
|
1-800-732-5407
|
VantagepointSoftware.com
03
LANE’S TRADER’S CHECKLIST
Every morning before the market opens I like to give myself some context to anticipate how the trading day is
likely to unfold. I run through a serious of questions…
Did anything materially change from yesterday’s close to this morning?
This can include anything from a major market move to an overnight Twitter rant by the president.
Are there any economic reports that will be released?
(Bloomberg or Yahoo Economic Calendar offer good free resources.)
While trading reports are mostly speculative, it’s important to be aware of them because they can
move markets.
Traders should review any open positions they have and think about how they will react if the
market moves in either direction.
If you’re long in positions and the market is going down – have you placed mental stops yet? Have you
placed physical stops yet? How are you going to react? Knowing your next move is half the battle.
Copyright ©2019 Vantagepoint ai, LLC.
|
1-800-732-5407
|
VantagepointSoftware.com
04
GREG’S TRADING CHECKLIST
LANE’S TRADER’S CHECKLIST
After those questions are answered and a game plan for the day is devised, search the market for new
trading opportunities that meet specific criteria.
Using Vantagepoint’s Intelliscan® Scanning tool, traders can search each stock sector for bullish and bearish
crossovers (indicating that a trend change is taking place and a trading opportunity is setting up.) Lane
suggests searching each sector independently because it forces you to know what’s going on in each sector.
You can set your own checklist of criteria (specific to your trading needs) that each opportunity must meet.
Note: this criteria will vary from trader to trader depending on your account size and propensity for risk.
Based
on your criteria, you can scan over 1,000 markets in minutes.
The next important factor is the open interest. Open interest is the number of contracts that are currently
open (ie have been traded but not yet liquidated.)
This criteria can help you reduce your potential trading
opportunities to a smaller, workable number.
You can see how having the right tools and a well-defined plan can help you quickly cut through the clutter
and focus on where you can make the most money.
Copyright ©2019 Vantagepoint ai, LLC.
|
1-800-732-5407
|
VantagepointSoftware.com
05

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