Happy Wednesday, tradersโฆ
Ben here.
I started trading 22 years ago in 2002. But at first, I didnโt have a trading routine.
I was inexperienced. Like many, I threw darts and hoped for the best. I lacked a reliable system.
It wasnโt until I developed a step-by-step list of actions to take each morning that I started winning consistently.
Now, I take these seven steps every morning. Without them, I never wouldโve achieved my 80%+ win rate in 2024.
One is no more important than the other โ each step plays a vital role in setting you up for day trading success.
Of course, there are no guarantees in the market. These steps arenโt a magic formula. But by taking these seven steps before every trade, youโll increase your chances of finding winners, avoiding losers, and nailing maximum profits.
So, without further ado, let me show you the โ7 Pโsโ that every day trader needsโฆ
1. Perspective
When the trading day begins, yesterdayโs results โ be they wins or losses โ become irrelevant.
Day trading focuses entirely on the present. Every day is a fresh start.
Perspective starts with identifying the marketโs overall trend. The trend is your friend.
If the major indexes are gapping up, the expectation should lean bullish. If theyโre gapping down, the mindset shifts to bearish.
After looking at the broader market, identify trends in the individual stocks on your watchlist.
This helps focus on what is happening on the charts, rather than getting caught up in personal predictions or hopes.
REMEMBER: Trading is about making money, not being proven right.
2. Preparation
Before the market opens, preparation is key.
Your charts should be marked with essential zones and key price levels:
- Important support and resistance levels
- Key psychological levels (round numbers that often act as price magnets)
These levels set the foundation for a trading plan, which ensures readiness when the market presents opportunities.
Why donโt we wait to do this? Because missing a move because you were too lazy to prepare means missing the trade.
3. Process
Next, you must identify stocks likely to move soon, either with the broader market or independently.
For me, this means using my SPYDER Scanner and APEX Scanner to follow the Smart Money.
Large, short-term options bets on my scanners tell me what major insiders are betting on in the market.
Combining Smart Money moves with technical analysis creates powerful setups.
Technically, Iโm looking for breakouts through resistance levels and pullbacks to support levels.
4. Plan
A solid process naturally leads to a well-defined plan for each trade.
This includes clear decisions on:
- Profit targets โ the levels where gains will be locked inโฆ
- Risk levels (stop losses) โ the levels where losses will be cutโฆ
Having these parameters in place helps remove emotion from trading decisions. If your levels are already pre-determined before you enter the trade, there are no guessing games once youโre actively in the position.
5. Patience
Patience is a virtue for any day trader.
Gains usually donโt appear the moment you enter a position, and your ideal setups may not present themselves as soon as you turn your screens on in the morning.
This means waiting for setups that align with the preparation and process steps. It also means sticking to the plan, allowing trades to play out, and giving winning trades the room they need to run.
Impulse decisions โ like chasing trades without preparation or closing winners too early โ are easily avoided by simply being patient and trusting your plan.
6. Protect
If you donโt protect the capital you have, your winning trades will get canceled out by poor risk management.
Protecting your account balance and unrealized profits ensures longevity in the markets. It will also help you stay confident, controlled, and disciplined.
- Scale-out of your winners at pre-determined levelsโฆ
- Employ strict risk management on losing positionsโฆ
- Be downright religious about your stop-losses (donโt move them lower)โฆ
7. Post-Trade Review
Every trading day should end with self-reflection. Once the marketโs closed, itโs time to think about your performance on the day.
This means reviewing trades, taking screenshots of charts, and analyzing your successes and failures.
Every win (and loss) carries a lesson. You want to lean into the decisions that led to wins and minimize the ones that lead to losses.
This is where noticeable improvement, growth, and development can occur for up-and-coming traders.
Every single trading day, I follow the 7 Pโs. Start doing the same and I bet your trading will improve.
Before we go, letโs look at:
๐ฐThe Biggest Smart-Money Bets of the Day๐ฐ
- $4.4 million bullish bet on BAC 03/21/2025 $48 calls @ $2.00 avg. (seen on 12/3)
- $2.4 million bullish bet on RIOT 03/21/2025 $14 calls @ $2.40 avg. (seen on 12/3)
- $2.3 million bullish bet on CVX 03/21/2025 $175 calls @ $2.31 avg. (seen on 12/3)
Happy trading,
Ben Sturgill
P.S. There are hundreds of Smart Money sweeps to choose from every day on my SPYDER Scannerโฆ
These exact setups led me to two 100%+ winners last weekโฆ
So, if you want to start nailing trades like thoseโฆ
Join my buddy Danny Phee THIS THURSDAY, December 5 at 7 p.m. EST to see the most promising Smart Money setups in the options market.
Seats are limited โ Reserve yours before itโs too late!
