This Day Trading Checklist Will Teach You How to Use Our Trade Room Effectively
STEP #1 – DAY TRADING CHECKLIST – GET STARTED
- Get Started – make sure to read our Get Started page if you haven’t yet.
- Basic Day Trading Course – if you’re new to day trading then we recommend that you take our basic day trading course first. Our day trade course gives you the basics on how to start day trading.
- Advanced Day Trading Course – this course will teach you the skill sets needed to become a profitable day trader. We teach you about float, how to scan for momentum plays, the most popular patterns to trade, shorting, and so much more…
- Make sure to practice making hundreds of trades in a virtual account first before trading with real money.
STEP #2 – BE PREPARED WITH WATCH LISTS & ALERTS
- Day Trade Watch List – each night before 9 pm est, we post our day trade watch list on our website. Make sure to bookmark this page and check it nightly. It’s important to have your watch list uploaded into your brokerage account each morning before 9:15 am. Having a watch list is an essential component to our day trading checklist.
- Trade Alert “Setups” – each night before 9 pm est, we post our corresponding day trade watch list trade alert setups on our website. Make sure to bookmark this page and check it nightly. It’s important to have your alerts set in your brokerage account each morning before 9:15 am. Alerts have to be done manually with each broker.
- *Please read our trade alerts page and Disclaimer in full detail before taking any trades. Do NOT trade with real money until you are comfortable with trading and have accepted full responsibility with your own trading risk management.
- Watch List Videos – map out support and resistance areas on your charts for the stocks on our day trade watch list (Make sure to watch our watch list videos and take our day trading courses to learn how to day trade stocks and draw proper support and resistance levels)
- Trade Ideas – Trade Ideas is our favorite stock scanner of choice and each morning by no later than 9:15 am we post the daily gappers here. Make sure to bookmark this page and check it each morning by no later than 9:15 am. Look at the top 3 – 5 moving gappers, add them to your watch list, and map out support and resistance levels. This is a daily routine of our day trading checklist.
STEP #3 – PRE-MARKET – NO LATER THAN 9:15 AM
- Pre-Market Live Stream – watch us live in the pre-market by no later than 9:15 am as we look at the top 3-5 gappers that are running on Trade Ideas and also what’s moving from our watch list. Next, we will narrow down our watch list at open to 3-5 stocks total (we keep remaining watch list stocks on a separate screen and keep an eye on them).
STEP #4 – WATCH US LIVE STREAM – 9:15 – 11:00 AM
- Day Trade Room – we start our live streams each morning by 9:15 am and stream until around 11:00 am. Our live streams are jam packed daily with real-time charting, analysis, mentoring, coaching, and showing trades. This is the best way to learn how to day trade stocks.
STEP #5 – DAY TRADING CHECKLIST DAILY PROCESS
- Once the bell opens, focus on your targeted watch list, what’s popping up on Trade Ideas, and what people are talking about in our day trade room. (Never take a trade based on anything anyone else is saying!)
- If the set up looks good, you’ve mapped out support and resistance, have pre-determined entries and exits, and you’re feeling confident, then make the decision to enter into a trade.
- As a reminder, we are not stock pumpers, so we don’t call out entries and exits to our members. We call out support and resistance levels real-time, however, we will not tell you when to enter and exit trades. You can use our real-time analysis to help you learn how to day trade stocks.
- On your off-time, study until you feel comfortable following the steps above. Take our free stock market courses, read our recommended stock market books, and do research using sites like StockCharts.com, Investopedia and Benzinga.
- Ask questions and participate in our Facebook trading community, and our trading room. A solid community of support will help you along on your trading journey. Trading is hard and having support from your peers is fundamental to your long term success.
YOUR DAILY PROCESS CONTINUED…
- Discipline yourself to follow these steps every single day until you are a consistent and profitable trader.
- It’s really important to make sure to practice in a paper trading account first before trading with real money (at least 200-300 practice trades with a 60-65% win rate).
- When you think that you’ve arrived as a trader; stay disciplined, never get too cocky, keep studying, keep practicing, and keep a laser focus. Remember…anything can happen at any moment in the stock market friends!
- If you’re brand new, it takes many traders at least 6 months to 1 year to become comfortable trading, so go easy on yourself if it takes you awhile to absorb trading. Don’t get stressed. Stick to the plan, take breaks, exercise, and eat healthy. Your health is number one! Take our free stock investing courses for beginners if you haven’t already.
- And…always remember that you have a community of support in the Bullish Bears to help you along your trading journey.