How To Increase Daily Productivity - Maximize Your Daily Trading Routine

How To Increase Daily Productivity - Maximize Your Daily Trading Routine

3 Pillars to Trading
- You need to have a trading strategy,
- You need to have the right tools, and
- You need to have the right mindset

My Trading Strategies:
- The PowerX Strategy
- The Wheel Strategy

My PowerX software shows me:
- What to trade.
- When to enter
- When to exit

My Wheel Income Calculator tells me which option strike has the best risk/reward.

Let’s take a closer look at these two software programs, starting with the PowerX Optimizer.

PowerX Optimizer

With my PowerX strategy, I’m looking to buy calls on stocks trending higher or buy puts on stocks trending lower.

My criteria for The PowerX Scanner:
- 60% return on investment over the past year.
- Stocks that are between $5 and $200.
- Profit factor higher than 3
- Risk/reward higher than 2.

Options Wheel Strategy:
- The idea is to “get paid to wait until you buy the stock”
- Selling puts and collect premium, and I want to pick a strike that coincides with the level I would feel - - Potentially get assigned & sell calls on the stock.

I use The Wheel Income Calculator to identify stocks and options.

I have set aside $500,000 in buying power for this strategy.

I trade what I see, not what I think.

Remember, I like to trade for SRC profits.

Having a trading plan is key to having the right mindset to trade.

There are three key parts of a trading plan:
- What to trade.
- When to enter
- When to exit -- both for a profit and a loss.

Limit orders allow you to tell your broker the price you want to get filled, and if you get that price, you move on. Same with stop-loss orders. You tell your broker what point you want to get out of the trade, and if the stock hits that level, you’re out.

I cannot stress enough how important it is to be prepared when you’re trading -- and to have a plan before you enter a position.

So, as you can see, by defining my strategies, I developed tools like the PowerX Optimizer and Wheel Income Calculator to help me find trades quickly and efficiently that work with my rules and my plan.

Recommended Links & Videos:

#StockMarket #OptionsTrading #IncreaseProductivity
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[rockwelltradingservices]

What tools are you using to help increase your productivity? Let me know in the comments.

Recommended Links & Videos:

[AK_Jesus]

I’m looking to start trading in hopes to supplement my income. You’ve helped me learn a ton so far! Please keep it up, I’d love to learn more from you.

[TBradFashionModel]

9:00 was a great point....past performance

[mxerb]

Thanks. I gotta prioritize since I have a full time job too.

[oliverphillips]

Very new here but love the vids. I’ve actually learnt soo much from you . Cheers man

[tron-ntbi]

Markus, when opening a position using PowerX that is at least 100 shares, does it make sense to sell a short term covered call on those shares while waiting to get to the profit targets? I was thinking that if the strike price was at or near the profit target, then I could get a premium while waiting. I guess the down side is when the stock falls, you can't get out until the expiration date which could increase the overall loss.

[thecommonsensediet]

"The winners in life treat their body as if it were a magnificent spacecraft that gives them the finest transportation and endurance for their lives." (Denis Waitley)

[vishalsinghal]

Can this software work india market stock