Day trading strategies: the complete guide with all the advanced tactics for stock and options trading strategies. Find here the tools you will need to invest in the forex market

Rule for Success #5 – Do Your Homework Daily
Get up early and study the financial environment before the market opens
and look at the news. This allows you to develop a daily options trading
plan. The process of analyzing the financial climate before the market
opens is called pre-market preparation. It is a necessary task that needs to
be performed every day to asset competition and to align your overall
strategy with the short-term conditions of that day.
An easy way to do this is to develop a pre-market checklist. An example of
a pre-market checklist includes but is not limited to:
Checking the individual markets that you frequently trade
options in or plan to trade options in to evaluate support
and resistance.
Checking the news to assess whether events that could
affect the market developed overnight.
Assessing what other options traders are doing to
determined volume and competition.
Determining what safe exits for losing positions are.
Considering the seasonality of certain markets are some as
affected by the day of the week, the month of the year, etc.

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Rule for Success #6 – Analyze Your Daily Performance
To determine if the options day trading style and strategies that you have
adopted are working for you, you need to track your performance. At the
most basic, this needs to be done on a daily basis by virtue of the fact that
you are trading options daily. This will allow you to notice patterns in your
profit and loss. This can lead to you determining the why and how of these
gains and losses. These determinations lead to fine tuning your daily
processes for maximum returns. These daily performance reviews allow
you to also make determinations on the long-term activity of your options
day trading career.

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