This week, Dr. Doug gives viewers the opportunity to peek into the mind of a trader.
Video: Market Coach Dr. Doug talks to trader and former hedge fund manager Mark Moskowitz about his daily thought process.
Mark Moskowitz has been a professional trader for 18 years and has even run his own hedge fund. He breaks his own trading day into four parts:
* Pre-Game—When he looks at charts and other data, and decides what stocks to buy.
* Early Open—Begin early-order entry and the search for signs of support & resistance.
* Mid-Day—As the market gets quiet, take time to review morning & strategize afternoon.
* Late Day—Take info from morning & early afternoon, see if daily plan is working.
The pre-game is the most important part, says Moskowitz, because good planning provides the “psychological edge” all traders need. Once he knows his potential losses and gains, he adds, he gains confidence he can work his plan throughout the day.
At the end of the day, Moskowitz says, it’s time to look back, analyze and learn. The lessons of today can always be put into play tomorrow.
Tags: Global Economy, Investment Strategy, Stock Market, Stock Options, Trends & Fads, US economy
