The 3 Daily Rules Every Trader Must Follow

Michael Esther
01-26 06:59

Remember, every trader must do 3 things everyday:

1. Draw key levels

2. Determine direction and structure of market (so you know to get calls or puts)

3. Wait for confirmation before getting in and out.

Here's all 6 levels to draw ( $Tesla Motors(TSLA)$ example):

1. Premarket high

2. Premarket low

3. Previous day low

4. Previous day high

5. Market Close

6. Market Open (not shown yet becuase market isn't open)

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