Sunday, June 3, 2012

Monday's Gameplan (3/6/2012)


From time to time, I intend on posting my gameplan here (with charts) with some explanation of my daily gameplan. Preparation plays a huge role in my trading, I typically spend hours preparing for the trading day, after all, luck favors the prepared. I am competing against the sharpest minds in the world on a daily basis, being second best means loosing money and you wont be the best unless you prepare with the will to win.

I have several charts below, all being stocks. If we get a lower open on Monday which is likely, one of three things will happen, we rally (30% probability) or head lower sharply due to fear (60% probability) we go no where (10% probability). I have selected my stocks to prepare myself for any outcome. If we open lower and rally, I have X which I intend on being long for the day. If we decline sharply I have a bunch of stocks on my radar, mainly being LEN, BHI, MOS, AKAM and FDX. Panic is right around the corner, things could get very volatile and to prepare myself for the volatility, I have adjusted my position sizing to handle the heat. I wont push my luck on Monday, things could get really whacky in this environment. Flexibility is key.







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