Today US equity traders sold stocks to fund purchases of PowerBall tickets. The Powerball jackpot is up to $1.5 billion. The cash grand prize is estimated at $930 million. If the jackpot gets big enough, it's actually worth your while to play the lottery. If one assumes there is only one winner then the odds are in your favor. And people are playing. Lottery officials said 85.8 percent of possible number combinations had been sold.
A typical day for a trader consists of analyzing different trade
setup or scenarios as they come up during the day. I have about 40 different
scenarios or trade setups that I watch daily. So how do I keep it all in my head
without letting it explode? The answer is I don’t. I have a piece of software
that helps me manage my attention during trading hours and focus on what is
coming. On top it displays trader clock which shows me current time, countdown and
time until coming events such as economic releases, international market open
and close times, FED speeches etc. Next it shows my weekly mental and monetary goals
and progress bar based on my current account balance. And finally list of only
relevant at that particular time trade setups. For example, I monitor some
setups during US open hours so the application shows me setups for US open, my past
notes and stats ahead of US open and hides them later so I can stay focused on
next trades. After trade is done I make notes for next time, update results and
forget about it until the next time so my head stays clear for a next trade.
PS I am not selling or giving this piece of software because
it does much more than that and I am only writing this post so it might help
other trades develop their own methods of organizing their trading days. If you
are penny stock trader, Forex trader or just day trader please share your own
methods on staying organized and prepared.