Home › Market News › [VIDEO] Your Trading Checklist – The Coach’s Playbook
Following up on our conversation from a few weeks ago on the importance of having a daily routine, the Topstep coaches are back to give you some insight into their morning market checklists and how they use them to prepare for the trading day.
You’re morning checklist should be more than just a part of your daily routine, it should also be part of your trading arsenal. Compiling data and converting it into rational trading thoughts and ideas really helps to cut down on the irrational decisions you might make based on your emotions.
Once again, we have a couple Nasdaq traders putting on a clinic in their Funded Accounts. So a couple big shout outs to Emmett R. who is up about $4,000 and Joe S. who is up $2,200. Keep those winners coming everyone!
A good trading checklist is multi-faceted. It should include things like technical data, fundamental information, and also your personal thoughts. Once you pool all of the information together, you should be able to develop an objective directional bias for the trading day. When you can apply an objective outlook to the market before you start trading, you will eventually find yourself making better trading decisions.
Now, you’re not always going to be right, so it’s also important to go back and try figure why, then try to improve on it. If you’re just getting started developing your routine, it’s not uncommon to find yourself going back to the drawing board multiple times before you start seeing positive results. Think about it as a constant work in progress.
A few examples of questions you might want to answer in your trading checklist are:
If you have the discipline to turn your checklist into a daily habit, you will be able to better anticipate what the trading environment will be for the day, and then you can adjust your trading strategy accordingly.
Trade Well!
