For me, a typical trading day actually starts
the day before… right when the market closes.
Here's what I mean…
I believe that the only way to get a leg up on the countless other market participants is to be as prepared as possible.
So as soon as I hear the closing bell…
I look at how the stocks on my watchlist closed…
Then I go through charts of trades I'm in or looking to get into…
And how the market finished overall.
It depends on how many trades I'm in, but this part of the process takes anywhere from an hour to several hours.
Regardless, I spend at least 30 minutes going over what I did right…
What I did wrong…
And what I might need to improve on for the next trading day.
Then, I wait for the Japanese market to open at 7 p.m. ET.
I think it's important to pay attention to global markets…
And I also keep an eye on the futures market, which is open from 6 p.m. on Sunday to around 5 p.m. on Friday.
But my prep the night before the next trading day is more about paying attention to news and market action than anything else.
And today's market is a very reactive one.
It can move off of the slightest bit of positive or negative news…
And it doesn't even matter if that news is factual!
Now, of course, you don't have to keep these kinds of hours…
Or watch the other markets because I am doing it for you.
But if you'd like to learn more about how to be a successful trader…
And get my favorite ticker to trade with my compliments,
just follow this link. I just released my very first video with an "over the shoulder" demo of my "One Ticker Trader" strategy.
Watch it here. Regards,
Larry Benedict
Editor,
The Opportunistic Trader
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