18 Steps To Day Trading Profits (Richard's Exact Process) | Axia Futures

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How do you prepare each morning for your trading day and break down a market from a technical view. What questions should you be asking yourself? Richard answers these questions by sharing the step-by-step process he follows while doing this for himself.

Here are the 18 step-by-step questions to ask yourself to prepare for a profitable trading day, starting with the daily chart, then market profile, and ending with the shorter term candlestick price charts.

Daily Chart:
1. Was the previous day's candle bullish or bearish?
2. What did volume do?(Above or below average?)
3. What did the range do? (Expectations on volatility)
4. What is the current trend?
5. What is the general direction?

Market Profile:
6. What was the day type?
7. Who is in control?
8. Where does the direction change?
9. What reference points are giving clues?

Shorter Time Frame (i.e. 60min)
10. What has been the recent move?
11. What are significant levels within scope of the current range conditions?
12. Does the current move have a good foundation for what it's trying to do?
13. Is the market overstretched?
14. Could the market structure break?

Shorter Time Frame (i.e. 5min)
15. Where can trades be entered?
16. How is the trade likely to play out? (Acceleration points, sticky areas)
17. What are potential reaction levels for scalps?
18. What did delta do?

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