Day trading case scenarios - buy and sell signals

I've just finished listening to yet another awesome pre-recorded day trading session with John Howell in the Planet Wealth trading room. As you read in a previous post, we've been studying day-trades and the best entry and exit points based on peaks, troughs, moving averages and support/resistance/trend lines.

Today John added to the teaching by introducing us to the concept of "Case Scenarios". I guess we can get caught up, trying to fit each trade into a step-by-step mould. But, it's not really that simple. Johnny stressed that each trade is different - and so must be analyzed and executed differently. For each and every trade, a good trader must construct a separate case scenario:

* What is happening right now.
* What is the technical entry.
* What is the technical exit (where are you placing stops).

If you, like me, are just starting out day-trading, then don't expect your next trade to execute the same as the last. It will be different. Construct a case scenario for your trade and be prepared to exit at any time. As the old cliche goes: "plan your trade and trade your plan". Keep your eyes open... and don't leave the screen!