Hey all, I hope your trades have been fruitful this week!
Looking over some of the losing trades, I realized that I need to come up with a good checklist to organize a lot of the things i'm thinking in my head before entering a trade.

 

So i've been thinking of the following and please feel free to let me know if i should add or remove anything or your overall views of my checklist:

 

1) Did you research this stock properly?  Alt: Did Tim alert it with a clear plan?

2) Is it in a recent downward trend or upward trend?

3) Is it an earnings/contract winner?

4) Does it have a volume of at least approx. 1mil?

5) Can I make a profit if this only moves up 3¢? (this is to prevent me from getting messed up by brokers fees)

6)What are its resistance and breakout levels?

7) What type of chart pattern is it at now?  (ie head and shoulders, etc etc)

8) What realistic gains/losses ration is there? (come up with a game plan and stick to it!)

 

Anything else?  And regarding #5, i'm using a $2k account so I usually need about 700 shares (so usually costing around 1/3 - 1/2 of my account) in order to get profitable once it gets 3¢ (because brokers fees usually end up costing me around $20 total).  Am i using too much of my account by doing that?