Trading Evolution

Markets are never wrong - opinions often are

Traders sold stocks to fund PowerBall (sarcasm)

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.

Organizing your trading day

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.