I am a relatively new trader I started a real money account 6 months ago have
demo traded for about a year. Anything that has really impacted my profitability in trading I have learned this forum.
I am currently seeking advice about how to design a morning checklist or any other usefull checklists or system.
Throughout the day I am scribbling down all kinds of things: possible entries fib exits fib projections pivot points try to avoid things all on any piece of scratch paper that is within quick reaching distance. I have currently discovered that 3 by 5 notebook cards make perfect trade logs. I also look at the dollar index periodically to see how the dollar is doing versus the majors etc.. All of this crap just backs up all over my desk creates a mess. I personally just have average orgainizational skills so I would appreciate any ideas or prcocedures that other traders use effectively.
A possible idea I have so far is to create a word document with sections for:
6 major ps:
USD/JPY USD/CHF USD/CAD (same row non dollar base)
EUR/USD GBP/USD AUD/USD (same row dollar base)
Each P containing Pivot Points: Day-4hr-hr-30min trend angles*plus I use the Directional Movement System on longer timeframes to determine "trendness" readings 30+
I also look at the dollar index so I was thinking of having a spot to draw notations on its general direction.
I am very interested in what other indicators or data traders monitor throughout the day to help in forecasting etc.. Or any comments!