Day Trading System (Rely totally on this system, don't sway away)
Building a Watch-list
Findings stocks to trade
From the news or of your choice
From Top 20 stocks of more than $10
Check if it is trade-able in TEFS
If you have certain news about an IPO
If you have strong market intuition etc.
Gaping up or down > 3%
Volume > 40k in pre-market
Earnings report released
Predictable daily chart
Entering selected stocks in Watch-list (Best ones/No more than manageable)
Analyze daily charts of the selected stocks
Decide which way to go Long or Short and at what time interval
Account Management
Enter account capital
Daily risk limit in $ (Risk is defined according to capital amount)
Entry & Exit
Stock is chosen and strategy is defined
To ENTER: AMOUNT IS SET AFTER CONSIDERING MANAGEBLE AMOUNT
Passive management
Active management
Entry
Stop
Limit
Market
Stop Limit
Range
RISK LIMIT ASSESED
Entry
Limit
RISK LIMIT ASSESED
Stop Limit
Range
INCREASE or DECREASE Position
EXIT
Look into SYSTEM or Calculator
Implement Range
Range
Stop
Stop Limit
Limit
click to edit
EXIT
Close 50% of Shares
Close 75-80% of Shares
Order Type
Market
Stop
Limit
Position Closed
Profit/Loss Realized
Enter it Into the System
Go to Choose Next Position
click to edit
Stop