Spending quiet time outside of the market, uninfluenced by emotion and biases is required for most successful traders. To get ready for the coming week, I spend my weekend analyzing sectors, basic scans (like the 4 percent breakouts), proprietary scans (like bottoming formations with a few unique variables added) and reviewing my watchlist. The time I spend on the weekend is by far the most important work I do.
That’s right. It’s not the time I spend executing trades, nor is it the decision I make in picking a stock. The real work comes from developing the game plan. It’s during this time that I get a real feel for the market. There are times when it’s tough to even put into words what the “feel” is, but I know it’s there. It is at this point that I write down my game plan for the coming week, which I send out to Trade Report members.
Here is a free view of the Trade Report game plan for the week, which I develop for Trade Report members on the BullsonWallStreet website. It is exactly what I trade from. Since starting the Report the results have been fantastic, with a 14 percent gain in two months.