One of the biggest ways we can grow our incomes and success as an entrepreneur or business owner is to create a routine for ourselves. The most successful people in the world operate within a routine. Obviously there is room for freedom and spontaneity but when it comes down to business we need routines to keep us on track so we can achieve our goals. You should treat your stock trading in the same way! My rockstar assistant coach in my stocks and crypto trading school John Balauat shares his wisdom today on how we can improve our trading and see more consistent returns with a daily routine in place.
Creating a Daily Trading Routine
Do you have a daily trading routine?
One of the things that a lot of knowledgeable traders have is a daily trading routine. It helps them keep on task with things they’re supposed to be doing so that they stay focused. If you wanna be a successful trader it’s gonna be really important for you to build good habits — and having a daily trading routine can help you do that.
Whether you’re a day trader, swing trader, or even a long-term trader, it’s a good idea to create a routine so that you can build some consistency in your trading efforts.
Here are some tips you can use for creating your own routine.
Have a Set Wake up Time
Waking up at a certain time is a great way to build discipline. If you have a family, waking up before everyone else is an effective way to remove distractions so that you can focus on preparing for the day’s possible trades.
Even if you have a job and are only trading part-time, waking up early is a great way to put in some time towards building your skillset before you head out to work.
Check Your Watchlist Daily
A good place to start is to check how stocks on your watchlist are doing. Are there any setups forming? Any breakouts coming up?
If the stocks are on your list, then you were attracted to them for some reason. Find out if those reasons are still valid. If not, take them off your list.
Screen for New Stocks
There are new stocks moving every day so you wanna make sure you check your screener to see what they are.
I like to look for stocks that have moved up at least 20% with some kind of catalyst, such as a news piece or a hot sector.
If you find any, start looking at their charts and look for trends, breakouts, and support/resistance. If you find interesting setups forming, add these stocks to your list!
Prepare Your Body
Preparation and routine aren’t only about your mind … Make sure to take care of your body, too.
Put in a workout, eat a good breakfast, or get a hug from your family. All that’s important and should be added to your routine.
One of the most important things you could do for success is to show up — even when you don’t feel like it.
Don’t take for granted the time you spend at our Stocks, Trading, and Crypto group every trading morning. Just by being around the environment Sandi and I have created, you are improving your skills and mindset. Consistency is powerful and a necessity if you wanna change your life.
There are so many things that you can add to your routine and these are a few important ideas.
Make sure to determine what the most important things are and then do them over and over again. It’s a solid way to build valuable skills and change your life!
– John Balauat
Do you want to become a better trader? Come join our Stocks, Trading & Crypto group. We meet every morning at the trading bell so that everyone can learn faster and more effectively. We’d love to have you join us!