Here it is, a new day, the beginning of a new trading session and an opportunity for a fresh start. But wait – what is the start? What is the first thing to do at the beginning of a new trading day? Every trader needs a good, practical checklist to get them through the day with maximum productivity. You may save this checklist in your bookmarks or write it down in your daily planner and see if you can apply it in your daily routine. Let’s go!
1. Fresh cup of coffee & daily news
You may start slow. Why not turn your breakfast into something productive? Depending on the assets you prefer to trade, you may check the news and see if there is anything influential going on. If you are not sure where to look – there is an economic calendar right in the traderoom.
You may look through the news, check the Forex or Earnings calendar: it may be helpful regardless of the trading approach you exercise, but it could be especially useful for news traders, as it is a part of their strategy.
2. Market assessment
Now that you have checked the news, it is time to check what is happening on the specific assets you normally trade. It can be done with fundamental analysis, however, many traders prefer using indicators in order to evaluate the asset’s past performance. What are the points that may be important to check? It may be helpful to assess the market’s direction, see if it is trending or flat, check the volatility and the strength of the trend. Keep in mind though that past performance is not an indicator of future performance.
All of these points might possibly make it simpler to decide on a trading plan that may be applied later. It is better to write the information down – the list can be as concise or as broad as you wish. What matters is that by the end of the assessment, you have a clear understanding of what is going on with the asset and what your actions might be in accordance with it.
3. Trading plan
Once it is clear what the market is up to, it is time to plan the trades. Trading experts rightfully consider a trading plan to be one of the most important components of a trading routine. The trading plan may be beneficial for every trader and it is essential to spend extra time on developing it. The main points here may be the asset, investment amount, total balance that will be used in a trading strategy/sequence, Stop Loss and Take Profit levels, the timeframe of the deal and the timeframe of the market.
The plan may also include the information about the indicators one may be using in the process, support and resistance lines and graphical tools. Sticking strictly to the plan during the day is a way to have a better control of the deals and manage your losses.
4. Risk management
An important part of the checklist is the risk management strategy that a trader will be using. What a trader may write down in this part of the plan is the conditions under which they may exit the trades, the acceptable amount of loss and the planned Stop Loss levels.
Writing these things down may seem excessive, but it is a good way to control the trading activity and manage the emotions that inevitably occur during trading. Another advantage of sticking with this checklist is that it might help one feel more productive, organized and accomplished. Just remember that consistency is key.
I’ve just started trading with real account. I’m performing well currently. I hope hope and pray for my acc to grow amazingly
Wow amazing …
Am early bird here. Sometimes profit amazingly and sometime suddenly lost. I do focus on one stock market. I believe am still learning
Happy for you friend. FOCUSING on a few markets is the best way to be profitable. It gives you time to really know how your market behaves in different conditions.
Its difficult to tarad this option as I see I loss money more than one’s my you tell me full explanation please.
Thank you for getting in touch. We’d love to assist you with that. As you surely understand, your account and its trades cannot be reviewed from this page. We need you to get in touch with us on our official website so we can see the full picture. Kindly contact us at support@iqoption.com for further discussion. We’ll be looking forward to your reply at the specified email. Thank you for your patience and cooperation. We value the opportunity to work with you.
Thanks for your stay with us, Adeyemi!
Thanks for your great attitude. It’s highly appreciated. We value the opportunity to work with you.
Tnx
We are truly happy you enjoy our app so far. Thank you so much for your evaluation. Your praise helps us become even better 🙂
I’ve lost all my profit and my money and i hope other traders gain instead of losing. I guess i still have to learn more than i think i knew
@ Lcky
Do you trade OPTIONS or FOREX?
We learn from our mistakes. We wish you lovely trading experience with IQ Option and a great day!
O sm still in a learning procrss..
I hope you will send me more information and strategies to apply for.us tp experience the prpfit
until today, i have lost lot of money within this trade. I realy don’t under stand it.
Thanks for reaching out to us! It’s a pity if trading turned out to be unprofitable for you. Instruments on our platform implement technical analysis and overall market alertness. Please, note that intuitive trading leads to unsatisfactory results. That is why it’s important to analyze the chart.
Thank you Tatyana!
I am new and start learning on IQ OPTION, and will follow your good checklist guidance,
Thank you for the nice words! Your satisfaction is our reward.
I’d lost another trade again but still do learning on it…just keep learning on this and in the future will bebetter
Thanks for your feedback.
We learn from our mistakes.
Thank you so much
I hope I that’s you will be continue writing on it.
We’re always at your entire disposal. Thanks for your feedback.
I hope it will be my strategy for trading ,Thanks.
Thanks for the reply!
I blew my account 5 times. But I learned from my mistakes. Never quit!
“Small daily seemingly insignificant improvements, when done CONSISTENTLY overtime leads to STUNNING RESULTS”! – Robin Sharma
great advise khalii..
thanks
Thanks, Khaliili 🙂
If I can give an opinion on this. What they’ve explained above is what will help you remain in the forex business ( and that’s just what they can give you here). As to the fact that you are losing money, that has to do with your strategy. Don’t rush to trade live before PROVING that your strategy ACTUALLY WORKS and is PROFITABLE. I am also learning and what I’m advising you. Be PATIENT enough to WORK ON YOUR STRATEGY and prove it works.
The following can help you with your strategy:
What time of day does your strategy work well.
What assets do you make money on.
When do you lose most of the times?
Is your strategy for trending or range-bound markets?
1. What time of day does
Thanks for your feedback, Robert 🙂
the only reason to lost your money in trading that is you did not fill your account with a large amount
in normal Forex you choose a target by buy but on the road to the target some time there is a big hall down it will take your all money if your amount is small but if its large you can Waite it come up again with no lose
if you have 10000 in your account just trade with 3000 in 3 different position
Binary and digital is for professional not for beginner if you just guess you will lose just like gambling
you need to study what you work at before you choose
and you have to accept the small lose and close to make new position with win
and accept the small profit to keep going
Thanks for your insight!
I am new here I invested $10 but I don’t know anything about this trade can someone help to teach me how to start
Thanks for joining! 🙂 Your success depends on your skills and patience. You can start by watching these training videos (https://iqcc.io/en/tutorials) first, so you can make more informed transactions. Beginning traders can try out their skills and practise on the practice account.
We do not provide trading courses or classes for trading. But we understand that learning and knowledge mean a lot, which is why you might truly get interested in our Blog: https://blog.iqoption.com/en/
We wish you lovely trading experience with IQ Option and a great day!
no send money my account
Hello dear user! Thank you for your message, can you please specify the issue or contact our support
at support@iqoption.com in case you are facing some problem. We thank you for your cooperation.
I’m day trader i loss my first investment, feeling sorry. i specailly trade option specially binary. help
Hello, sorry to hear that. Did you try our practice account and watch the video tutorials and read our blogs as that might help you to understand.
In case if something is unclear then let us know and we will be glad to assist you.