Every day trader will write a day trading checklist. They think it can help them follow the day trading discipline.
Here is my day trading checklist. I must write it before every trade.
Some day traders probably write it down on the day trading diary. Others may write it on the day trading blogs.
I will build a day trading checklist excel spreadsheet. It will be saved along with the day trading journal excel.
Finally, you shouldn't only look for the strong day trading signals on the daily chart, you have to also check the 4 hour chart.
Here is a day trading checklist example:
A lot of day traders were caught out by a strong trend on the daily chart. Therefore, it is not enough to write a day trading plan and a day trading journal, one must make a pre trading checklist.
Here is my day trading checklist. I must write it before every trade.
- Date
- Which market will I trade? Stocks, options, futures or forex? It is better to trade in only one market. I am going to day trade the forex market.
- What is my day trading strategy?
- Forex grid trading system or RSI day trading strategy.
- Check the Economic calendar on the forex trading sites.
- Closing price on the daily chart
- Daily high and low
- Support levels on the daily chart
- Resistance levels on the daily chart
- Are ADX 14 readings above 25?
- Has it crossed 20 exponential moving averages, 50 EMA, 100 EMA and 200 EMA?
- Are ADX 14 readings below 20?
- Are Relative Strength Index 14 readings below 30?
- Are Relative Strength Index 14 readings above 70?
Some day traders probably write it down on the day trading diary. Others may write it on the day trading blogs.
I will build a day trading checklist excel spreadsheet. It will be saved along with the day trading journal excel.
Finally, you shouldn't only look for the strong day trading signals on the daily chart, you have to also check the 4 hour chart.
Here is a day trading checklist example:
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| a day trading checklist |
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