Review of #traderchecklist Instructional DVD by @timothysykes & @thehonestcroock Chapter 12

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Table of Contents for Review of TraderChecklist


GREAT chapter!! Mark is a solid trader and I think his “Pre Flight Checklist” was the inspiration for Sykes to finally put his system into the “Sykes Sliding Scale”. This two hour webinar by Mark takes you from beginning to end of detailing his system as well as its actual implementation. I really like the way he organized it and it was obviously well thought out.

Croock starts by detailing how diligent you have to be in following a system, then proceeds to actually building a watchlist using his “Pre Flight Checklist”. I really liked the metaphor of an airplane pilot double checking and triple checking criteria before actually taking off.

Reminded me of a very solid book: The Checklist Manifesto: How to Get Things Right

Something no one wants to hear but is very important, so much of being a trader is repeating the same process 5-10-50 times a day. It is not sexy but it’s that due diligence that creates consistently profitable traders. I didn’t count but I think Mark says “It’s just wash, rinse, repeat” several times during this chapter. It may not be alluring but it’s the truth. Whether it be the “Pre Flight Checklist” or the “Sykes Sliding Scale” you need to develop a system that works for you and stick with it and refine it ad nauseum.

This chapter is for sure a MUST re watch. I’ve seen less valuable content on $200-500 DVD’s and this chapter is just a portion of the FREE content in Trader Checklist.


Mark Croock Pre Flight Checklist
#1 Criteria to get started
     -Big % gainer
     -Former runner
     -StocksToTrade – Yahoo finance – Finfiz –
#2 Check stats
     -Shares outstanding
     -# of shares short
Good description of the behavior of low float stocks
Good discussion on repeating the due diligence EVERY time.
Finviz screener for big gainers. >10%
     -Sort by volume
Process of building list of tickers, quickly scan at first.
     -Start with big list, then whittle down
     -Check multiple sources, finviz, StocksToTrade, Yahoo finance, etc etc.
     -Ignore low volume
#3 Catalysts
          -earnings winner – Potential Buy
          -contract winner – Potential Buy
          -technical breakout – Potential Buy
          -Hot sector –  – Potential Buy – trends, Ebola,weed etc
          -Pump – Potential short
          -Buyout rumors – guessing game – no edge. IGNORE
          -Speculative and “potential” news, usually an Ignore
#4 Where is longer term and short term Support and resistance
     -Basic technical analysis
     -Multiple time frames.
     -Avoid long term “bag holder” charts, long kiss goodnight.
MOST CHARTS ARE NOT TRADEABLE, learn to recognize this through repetition.
Breakdown of NVCN – Rinse and repeat methods already mentioned.
Avoid beat down stocks
Watchlist building – good thinking through of potentials
     -writing out thoughts
Really like the idea of writing out plans/ideas
Good breakdown of balance sheet
Good example of my “ghetto fundamental analysis” quick cash check, burn rate etc.

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