A watchlist is an essential tool for any trader regardless of experience. I use my watchlist every single day without fail and has helped my trading grow from strength to strength.

A watchlist is a list of trade setups that you plan on executing if and when you get confirmation to enter the trade. In short the watchlist is all of analysis noted down and notes are updated throughout the day keeping all of your potential trade setups organised and up to date. This helps me massively as I do not have to store al the information inside my mind I can simply flick open my watchlist book and see my notes. 

Another benefit of the watchlist is that all your trades / potential set ups are now logged in a diary. This is great information to have for self development as a trader. Some of my setups carry over for a few days until I have my final confirmation to enter a trade, which is great as all I need to do is copy my notes from the previous day to the present day. You can make trading so much easier just by keeping organised and not trying to store all your analysis in your mind.  

Take a look at how I layout my watchlist, enjoy your trading and keep organised. 

Written By Ryan Chandler

1 year ago (2019-05-01 10:12:27)