I think I will have to clarify what I meant by deciding prices by making a post. Anyway, I will have to prepare my watch list for tomorrow if I want to trade.

RJ.

I agree with Yngvai, I couldn’t possibly predict entry prices for the next day. The exception might just be a day ranger or stock that moved exceptionally the prior day on a drop and then red to green, in which case the entry would be the previous day’s close. But that’s no guarantee either, just one of innumerable possibilities, so I don’t see the point of planning it.

May be I wasn’t clear but when I mentioned those prices, I meant expected prices. Let’s say my expected entry price for ABK is 1.40 for tomorrow, I wouldn’t want to enter at 1.50 because that would be way too off from my entry price. I have few other thoughts about being ready with prices for a particular stock, I will create another blog post about it.

RJ

One potential issue is that, except for breakout plays, it may be hard to have a pre-set entry price for a stock, as this may be partly dependent on the price action.

Other than breakouts, I usually don’t have pre-planned entry points. However, once I’ve entered, I always have a planned exit and stop point. As soon as I’ve entered, I quickly calculate the stop point based on either a 4% stop loss, or a support level.

I have different watch lists for different types of plays, and I always set them up the night before. I have a “breakout” watch list, a ‘bottom reversal” watch list, and a “short” watch list.

Also, when Laura or Muddy announce the prehits in the morning, I put all of those into my “prehit” watch list. I then quickly go through each one, looking at the “Live News” in TOS to see if it fits my news rules for those plays. If it doesn’t, I take it off the list. If it does fit the rules, I open a chart for this stock, separate it from TOS so it’s in its own window, and then minimize it. I’ll typically have 6-9 of these windows ready to go by the time the market opens. That’s how I’ve gotten good at spotting these prehit buy plays lately…but I just need to execute a bit better on them.