Nov 302008

Pre-Market Day Trading Preparation

Posted by Barry Burns in Current Market Analysis, Day Trading, Futures, Investing, Money Management, Psychology, Stocks, Video tags: Day Trading, daytrading, dow, emini, fibonacci, floor trader pivots, Futures, Investing, pivots, stock market, Stocks

Welcome back. Enjoy this latest article and then scroll down and please leave your comments/reactions at the bottom of this post. Thanks for visiting again!



Today we continue with Part 2 of my answer to an email sent in by a student (see the last entry in this blog for Part 1 and to read the letter and the questions).

I used to do a lot of preparation for each trading day. Now, after many years of trading, I’ve simplified things tremendously and don’t do much preparation at all. However, there are a couple things I ALWAYS do before the market opens, and this video will show you exactly what they are, including the 2 web sites I consult before the opening bell.



Please leave your comments by clicking on the green “Comments” link at the very bottom of this entry and if you found this video helpful, post it to one of the Social Bookmarks below that you belong to.

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This entry was posted on Sunday, November 30th, 2008 at 2:34 pm and is filed under Current Market Analysis, Day Trading, Futures, Investing, Money Management, Psychology, Stocks, Video. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

17 Responses to “Pre-Market Day Trading Preparation”

  1. Don Says:

    December 1st, 2008 at 3:10 pm

    Great stuff, again !
    Thanks.

  2. Bijan M. Says:

    December 1st, 2008 at 6:09 pm

    Hi Barry,

    This was not one of your better videos. Actually it was boaring. Sorry to be negative, but you wanted honesty, so there you go.

    Thanks

  3. Kevin Says:

    December 1st, 2008 at 6:44 pm

    Hi Dr Barry!!!!

    Thanks very much, for yet another interesting and informative video.Always much appreciated.

    Thanks and happy trading.
    Kevin

  4. larry Says:

    December 1st, 2008 at 8:21 pm

    Barry,
    Thanks for the videos. Anything that you offer is well worth watching. Thanks for your training and advise for those of us who are always continuing the learning process.

  5. Ali S. Says:

    December 2nd, 2008 at 10:15 am

    Dr. Burns:
    I do not day trade or trade futures, however, for the benefit of those who trade stocks, I do check the oversees markets and the S&P futures before the market opens.
    These days with all the volatility I find that preparing for the market open leaves something to be desired. It makes a lot more sense to take a birds eye view (50 MA) and use oscillators/momentum as you indicated in your course.
    It never seems to be a good idea to predict but anticipate and then react when the market confirms your plan.

  6. christian Says:

    December 2nd, 2008 at 1:35 pm

    Thanks Barry
    That was a great help,it is always good to visit ur site every now and then because u never fails to help out.
    Thank you Barry and may the good lord keep you for us

  7. Joe Da Silva Says:

    December 2nd, 2008 at 1:51 pm

    Hi Dr. Burns,

    I hope you had a great Thanksgiving weekend with your family. I always enjoy and look forward to all your information. No one else seems to have that calm, smooth, direct to the point delivery as you do and the content is always very worthwhile. You create the right atmosphere for learning. I am happy to be on your mailing list and I would sign up with you if I could ever get the successful temperament as you possess for trading success. Thank you very much.

    Sincerely.

    Joe Da Silva

  8. Noah Says:

    December 2nd, 2008 at 1:54 pm

    Its funny that as I progressed as a day trader my morning preparation decreased but my market open alertness increased tremendously. Before decimalization I would also capitalize on slightly crossed markets for the first 45 seconds. My morning routine would usually take a highlighter and go through Investor’s Business Daily and see what stocks were in play that I could follow. Uusally no more than 15. Ahhh, the good old days of the soes bandits!

  9. Barry Burns Says:

    December 2nd, 2008 at 7:30 pm

    Thanks all for the comments. And Bijan, no problem. I appreciate your honesty. Real feedback is the only way I’ll know if I’m delivering content that you want or if I’m off target.

  10. Don Says:

    December 3rd, 2008 at 10:37 am

    video only played approx. 1/2

  11. Mike E Says:

    December 3rd, 2008 at 11:56 am

    Thanks again Dr Burns for taking the time to give us another informative and helpful video. Your voice alone is great therapy after a stressful day in the markets or the office, or wherever! :-)

    A question: I know that you trade Forex sometimes. Do you have any special preparation for those kind of markets? As they are 24 hour, I presume that the normal “Open, Close” numbers are not quite as meaningful as in the more traditional markets (although I suppose the Highs and Lows are).

    With thanks,
    Regards,
    Mike E.

  12. 118th Festival of Stocks | Old School Value Says:

    December 8th, 2008 at 1:03 am

    [...] Barry Burns presents Pre-Market Day Trading Preparation posted at Top Dog Trading, saying, “This video reveals the 2 web sites I ALWAYS check before [...]

  13. Ginny Says:

    December 8th, 2008 at 12:16 pm

    Enjoyed your video as I have the lessons you have provided. I will be using these sites as well. Thank you, Dr. Burns, much appreciated.

  14. Roberto Says:

    December 13th, 2008 at 12:32 pm

    Although I am not presently trading the Mini-Dow, good to see the importance that you give to the daily Pivots. In my past experience, without them on my YM charts I will never take a trade. I find them like a “Price Compass”, either in trending or in choppy days. Similar for Market Profile!!!!

    Thanks for all your information, Dr. Burns!!

  15. Barry Burns Says:

    January 3rd, 2009 at 11:59 pm

    News is really important in Forex. Checking any known news releases is the only special preparation I do … other than drawing support/resistance levels, but most of that is automated on my charts.

  16. neelu Says:

    October 26th, 2009 at 4:57 pm

    cant see the link

  17. Auto Forex Trading Says:

    August 20th, 2010 at 9:57 am

    Thanks very much, for yet another interesting and informative video.Always much appreciated, you’re doing a great job.

    Thanks and happy trading.
    Luis

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