Part Seven a) of the “Freedom Traders” Series: Trading Plans. How I Build my Personal Trading Plan and Watch List for Swing Trading and Day Trading.
Below is a quick post about how to develop your own trading plan watch list for both day trading and swing trading. I’ve also done a quick 23 minute video for you on the topic. I keep my method simple so its quick and efficient. Once I’ve found a stock that meets my set-up criteria then the real work begins (refer to part 6 for trading set-ups or our daily mid day review videos to understand more of my methods).
The purpose of a trading plan is to provide you (the trader) with a focused target list for the day (for day traders) or a watch list for swing trading. It is a short list, or I like to look at it as my journal. From there you can build out your specific chart set up criteria for each possible trade.
How to Build a Trading Plan Watch List: Video Number One.
Topics in How I Build a Trading Plan Watch List Video 1:
The primary focus in building your plan in my opinion is to keep it easy.
I use my hot list on Trading View charting software. My hot list are momentum stocks on each day that have liquidity.
I look at each momentum stock to see if each is setting up in accordance to the trade set-ups that I am looking for (refer to our mid day review chart trade set ups videos on You Tube to understand my set ups).
When I find a stock that it developing as a great set up I then chart the set up and set the alarms for Swing Trading first and the for Day Trading on tighter time frames.
And that is as simple as it gets and then I don’t have to listen to the noise on CNBC, on social media etc.
It works time and time again. Simple and effective. Check my results:)
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Article Topics; Compound, Trading, Plan, Watch List, Freedom, Traders, Learn, How to, Day Trading, Swing Trading