Like in any other business, there is always room for improvement. Improving your trading business is a habit we strongly recommend you build over time.
You don’t need to be a Peter Drucker disciple or master Porter’s Five Forces Framework. There are a couple of things you can do that will make it more organized and efficient, thus improving your overall performance. Here are four of them:
– Study automating some tasks – Advanced orders, price alerts, delta alerts, advanced scripting, use whatever you feel comfortable to automate some of your trading system’s rules.
– Learn the trading platform – The trading platform is to a trader what an aircraft dashboard is to a pilot. You have to master it in order to become a skilled professional.
– Study the assets you trade – The more you trade, the more you get to know your assets. Depending on your system, after studying and trading the same assets over and over again, maybe you won’t even bother searching for new candidates.
– Improve your spreadsheets – Consider spreadsheets the base upon which you will be gathering, breaking and analyzing the trading data. If you think it lacks some metrics, calculations or charts, build them. Do whatever it takes to make them your best trading partner.
Dedicate some 30 minutes per week to improve your business. These things have exponential behavior. After a few weeks, you will start noticing some progress in productivity.
Chart of the Day
Playing earnings gaps
‘Tis the Season. Gaps are everywhere. Coach Mark gives us a simple and smart way to tackle earnings gaps, using Facebook’s as an example. Check the video of the day.
Video of the day
What is an In The Money Option (ITM)
You trade the pattern until it changes!
In this video, Coach Matt discusses downtrends and its patterns in depth by explaining candlesticks, resistance, and support.
Today’s Lineup
Coaches Lounge 11am EST
Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.
Halftime Report 12:30pm EST
The Halftime Report starts at 12:30 EST and covers what news is driving the market, chart analysis from the movers and shakers of the day and fun in a way that only Matt and Tim can deliver
Coaches Show Replay
If you missed last night’s episode where Coach Tim and Coach Hector talked about Apple’s Earnings or would like to watch it again, check it out here.
Tackle 25 MMG 8:30pm EST
Join and learn how to better use the Covered Call System with the Tackle 25. Tonight, coach Noah will be hosting the show.
