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Action Plan For A Weekly Income Trader

This document outlines action plans for weekly and monthly income traders. For weekly income trading, it recommends attending two live daily sessions focused on weekly income trades. The time allocation is 60-90 minutes of stock analysis per day plus 2-3 hours on weekends. Order placement will occur during market hours and after hours. The strategy involves identifying trends using the 50 SMA clock approach and quantifying zones. Targets, stops, and profit taking levels are also defined. For monthly income trading, it recommends attending two monthly bonus sessions and developing strategies using monthly, weekly, and daily time frames and tools like the 50 SMA and ATR.

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Sri Chowdary
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110 views4 pages

Action Plan For A Weekly Income Trader

This document outlines action plans for weekly and monthly income traders. For weekly income trading, it recommends attending two live daily sessions focused on weekly income trades. The time allocation is 60-90 minutes of stock analysis per day plus 2-3 hours on weekends. Order placement will occur during market hours and after hours. The strategy involves identifying trends using the 50 SMA clock approach and quantifying zones. Targets, stops, and profit taking levels are also defined. For monthly income trading, it recommends attending two monthly bonus sessions and developing strategies using monthly, weekly, and daily time frames and tools like the 50 SMA and ATR.

Uploaded by

Sri Chowdary
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Action plan for a Weekly Income Trader:

1) Need to go through all the 24 CTP sessions and watch the recordings at
least once or 2 times
2) Submit your personal trading plan to your mentor
3) I will attend 2 live sessions during the day
4) I will attend one bonus session every month for 11 months for
reinforcement of the Core Strategy including Risk Management and Trade
Management

Sessions to attend:
10:00 am - 10:45 am – Equities (Focus on Weekly Income Trades)

9:00pm - 9:45 pm – Equities (Focus on Weekly Income Trades)

Time Allocation:
60-90 minutes on Stock Analysis per day + 2-3 hours of analysis on the weekends

Order Placement: During market hours + Aftermarket hour’s orders

Bracket + Trailing SL orders

Aftermarket bracket orders will be placed from 11:00 pm – 8:00 am in the


morning + Weekends

Strategy Building for a Weekly Income Trader

1. Identify the purpose for trading?


Long Term wealth

2. Define your trading style?


Weekly Income

3. Define the time frames for weekly income trading?


Trading Style Curve Trend Zones
Weekly Income Weekly Daily 60/240

1
4. What strategy I am going to use to identify my trend ?
I will be using the 50 SMA using the clock and slope approach

5. Do you want to incorporate volatility in your trading?


Yes – Aggressive Trader
No – Conservative Trader

6. Do I need to take into account fundamental news?


Refer to Sharekhan research and identify a potential pick/picks
Use the Ignite scanner to scan for weekly income strong vs weak stocks

7. How I am going to quantify my zones?


7  Limit Entry
6 or 5.5  Zone or Confirmation Entry

8. What are some of the secondary tools that I can use?


DATR

9. What is going to be my stopping point for weekly income trades?


10% of DATR

10.Targets
a) I will have one target (One bracket MyGTD order  Long. For going
short you have to take the trade in futures)
b) I will have 2 targets (2 bracket MyGTD orders  Long with 2 different
targets. For going short you have to take the trade in futures)
c) I will have multiple targets (Multiple bracket MyGTD orders….)

11.Where should I be taking my profits


If the trade is taken on a 60 mins then the opposing level should also be on
the 60 mins
If the trade is taken on a 240 mins then the opposing level should also be
240 mins

2
Action plan for a Monthly Income Trader

1. Need to go through all the 24 CTP sessions and watch the recordings at
least once or 2 times
2. Submit your personal trading plan to your mentor
3. I will attend two live monthly session every month
9.00 pm – 10.30 pm
4. I will attend one bonus session every month for 11 months for
reinforcement of the Core Strategy including Risk Management and Trade
Management
Time Allocation: 2-3 hours on the weekends
Order Placement: During market hours + Aftermarket hour orders

Aftermarket bracket orders will be placed from 11:00 pm – 9:00 am in the


morning + Weekends

Strategy Development for a Monthly Income Trader


1. Define my monthly Income time frames – Idea is to hold this long term
Trading Style Curve Trend Zones
Monthly Income Monthly Weekly Daily

2. What strategy I am going to use to identify my trend?


50 SMA Clock with the slope

3. How I am I going to quantify my zones


Using Odds Enhancers
7  Type 1  Limit entry
6  Type 2 or Type 3  Zonal or Confirmation Entry

4. What are some of the secondary tools that I am going to use while trading
MIT?
Daily ATR
3
5. What is going to be my stopping point for the MIT?
10% of DATR

6. How many targets shall I have?


a) 1 target – Single Bracket GTD Order
b) 2 targets – 2 Bracket GTD Orders
c) Multiple Targets – Multiple Bracket GTD orders

7. Where I am going to be taking my exits after trade is triggered(Booking


Profits)
a) Opposing level on the same time frame as the entry -Daily
b) Opposing level on the higher time frame(Trend time Frame) – Weekly

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