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.