My Top Ten Trading Checklist

08/19/2014 6:00 am EST

Focus: STRATEGIES

Anna Coulling

Professional Trader, Professional Trader

Anna Coulling of AnnaCoulling.com shares a recent question-and-answer between her and a subscriber about the top ten things she does on a daily and weekly basis before she starts to trade.

Question: Hi Anna-please advise on my Weekly (Saturday and Sunday) To Do List-My Daily (M-F) To Do List at the beginning of my trading session-Regards.

Answer: Hi-many thanks for your question, which is one I am often asked-so here is my top ten list of things to do. These are the simple things I look at every morning before starting to trade (with one or two on a weekly basis).

  1. Overnight equity markets-Asia and Far East-price action and volume.
  2. Bond markets-US in particular for bond prices and bond yields and, particularly, the 10-year note, which is a benchmark.
  3. Yen currency pairs-again, for risk and a good barometer of risk on/risk off is the AUD/JPY.
  4. USD index-I use two here-the DXY and the FXCM/DOW, which I find is more representative. The old DXY is too heavily euro weighted (in my opinion) and the FXCM/DOW index provides a more balanced view.
  5. Commodity indices and primary commodities-particularly oil, and gold, and gas.
  6. Fundamental news overnight and for the day ahead. Any news from China and Far East, in particular.
  7. Futures volumes on currencies, commodities, and bonds and primary indices using volume price analysis.
  8. COT report data at the weekend-here we are looking for changes in sentiment.
  9. Volatility indicator from OANDA-this also has other instruments too and is a very quick and easy way to identify the volatility across the markets-which are moving and which are stagnant. It also displays the extent of price movements and in all timeframes.
  10. Daily charts for the overall technical picture. This is irrespective of what timeframe I am trading intraday. It provides the framework for the session and a mental picture of the longer-term trend.

I hope the above helps to get you started, and thanks for an interesting question.

By Anna Coulling, Professional Trader & Blogger, AnnaCoulling.com

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