3 Steps to Start Your Trading Week the Right Way

by | Feb 20, 2023

The market may be closed today, but a brand-new trading week is almost upon us…

So, I challenge you to ask yourself … How have you prepared for the trading week ahead?

Your preparation determines a lot about how you’ll trade over the next several sessions.

I don’t know any successful traders who wake up two minutes before the open on Monday mornings and ask, “What should I trade today?” (That’s a lazy recipe for disaster!)

You might be able to get away with a lazy mindset in a hot market, but it won’t help you succeed over time. 

Even worse, having brief success with a lazy mindset can trick your brain into thinking you’re doing the right things when you’re just getting lucky in the right market conditions.

To have long-term success as a trader, you must nurture daily habits that serve your goal of financial freedom. 

I think the best way to build those habits is to start focusing on them at the top of every week.

(And with the market being closed today, you have an extra day to prepare this week!)

With that in mind, keep reading to see the three steps I suggest taking every Monday morning to prepare for the week…

Build Your Weekly Watchlist

Every Monday, I send Evolvers an email detailing my thoughts about the names I’m watching for potential trades that week.

You may think this is just another part of my teaching service, but that’s not entirely true. 

The truth is, I make the weekly watchlist as much for me as for you.

It helps enormously to have all of my top watches in one document for quick reference throughout the week … which is why I suggest you do the same!

Want Daily Trade Ideas From Millionaire Traders?

Whether you’re a rookie in the markets or a seasoned trader – these strategy sessions are perfect for ANY trader who wants to gain a MASSIVE edge in today’s uncertain market…

And take advantage of the obscure “profit windows” Tim Sykes has been targeting!

Don’t miss out on the next session!

The key when writing your watchlists is to not just write the names down but to also detail why you’re intrigued by the setups. 

That way, if news or sentiment shifts throughout the week (as they’re known to do), you can compare your original trade thesis to what’s changed by mid-week.

Form an Airtight Game Plan

Too many traders fail to form a solid game plan before entering their trades…

Why? Because they’re impatient, greedy … or both!

Every successful trader I know has their game plan prepared before the sun sets on Sunday. Then they wake up two or three hours before the market opens. (Me included!)

On the contrary, hoards of newbies want to throw their entire accounts on one options trade, dreaming of making millions in a day. 

But this is a pie-in-the-sky fantasy that will likely never come true…

You can’t take more than the market’s willing to give. You’ve gotta choose your trades carefully and be consistent with your game plan.

So, what details should go into your trading plans? Here’s what I always include… 

If you make a trade without knowing those five things, you’re practically begging to lose.

But the opposite is also true. So, make sure you’re forming an airtight game plan at the top of each week … BEFORE you enter any trades!

Leave Last Week in the Past

Some traders tend to let the sting of their losses — or the overconfidence from their wins — carry over into the following week.

But I want you to avoid bringing past emotions into your present trading (or any emotions, for that matter).

Why can’t veteran trader Tim Bohen stop laughing?

He says he’s just identified the ultimate revenge trade…

And can’t wait to hear from the haters.

Last year, people who doubted him missed out on the opportunity to make EIGHT TIMES their money.

Now, that doesn’t mean you should forget about valuable lessons you’ve learned from your past trades. I’m not saying that…

I’m simply suggesting that you start the week off with a fresh outlook, unaffected by the emotions that prior trades have brought you.

If you’re walking on eggshells because of a brutal loss in the recent past, you may lack the confidence to pull the trigger when a five-star setup comes across your screen.

On the other hand, overconfidence can also be a trader’s worst enemy…

If a string of lucky wins have you feeling invincible, you may find yourself overtrading or oversizing your positions. 

All this to say, don’t let your recent wins or losses affect your decision-making this week.

Start the week fresh and trade better for it!

Final Thoughts

Starting your trading week off on the right foot is one of the most beneficial things you can do.

By simply building your watchlist, forming a game plan, and leaving your prior trades in the past … you can potentially get a leg up on your less-disciplined competition. 

Take these three steps before the market opens every Monday morning to set yourself up for success.

Meet Mark:

Mark Croock is a former accountant who after studying under Millionaire Trader Tim Sykes turned his small account into $3.19 Million in trading profits by applying Tim’s strategies to options trading.

He started Evolved Trader to pay it forward and help other traders learn how to leverage options


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