Add Checklist My Checklists  

  • Before Buying
    • Check the markets and trade in the direction of the prevailing market trend.
    • Check the industry – are the stocks showing signs of topping out or bottoming?
    • Make sure the industry is top ranked.
    • Look at the weekly scale for any threatening chart patterns.
    • Find another chart pattern in the same stock and see how it performed in the past.
    • Check the indicators.
    • Check how this industry is doing compared to others.
    • Wait for price to turn up before buying.
    • Get a quote before trading.
    • If the stock is up too much intraday, skip the trade.
    • Look for overhead resistance.
    • Look for underlying support.
    • Avoid any stock showing a dead-cat bounce within the last six months.
  • When to Sell
    • The stock is about to hit your stop.
    • A bearish chart pattern has broken out downward.
    • The stock has closed below an up-sloping trendline.
    • Price has hit the target.
    • Stocks in the industry are topping out.
    • The market is up but the stock is down.
    • Indicators are diverging from price.

Trading Checklist
  John F. Smith

on January 2, 2012

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