In this episode, the Steady Trade Podcast presents the 12th part of a new series, where hosts Tim Bohen and Stephen Johnson share some of their favorite trading resources.
In the past 11 episodes, they’ve featured an in-depth Trader Checklist review, featuring clips and commentary focused around the Tim Sykes video.
Today, they talk about an interesting part of the video: a two-hour webinar via Mark Croock about a little something called the “Pre-Flight Checklist.”
Be sure to check out this episode on YouTube to see the accompanying video!
About Trader Checklist
Trader Checklist is a video by Tim Sykes that features 14 chapters of invaluable trading information. It’s available for free online, so don’t miss out.
To enter, first you need to watch Trader Checklist. Then, at the end of this multi-part episode, you’ll be invited to take part in a quiz based on the Trader Checklist principles. Stay tuned!
What is the Pre-Flight Checklist?
Before a plane takes off, the pilot needs to check all sorts of things to ensure the safety of the crew and passengers. You simply wouldn’t want to get into a plane where the fuel levels and mechanisms hadn’t been checked; after all, you could just take off and crash.
Similarly, with trading, it’s vital to perform a series of important checks to ensure the safety and viability of your trade. This is one of the best ways to avoid crashing your account.
Clip: Here, Mark Croock introduces one of the key checklist bullet points before you make a trade. Is your stock a big percent gainer? Look for stocks that have been gaining above 10 percent. Ideally, it’s also a former runner and has a reliable trading history.
The Steady Trade take: According to host Tim, looking for big gainers should be every momentum trader’s first step. Doing this will not just help you find hot stocks, but hot sectors. Tim and Stephen talk about how stocks that have run in the past are important because they are more likely to be the ones that run again.
Clip: Mark offers some important to-do list essentials before executing a trade: No matter what, you must check the stock’s float, shares outstanding, and the number of shares short.