- Step 1: Plan
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You can't reach your financial goals without first considering how you're going to get there. So start with some simple questions. What are your objectives? Are you going to invest or trade? How are you going to manage risk? What are your rules for investing or trading?
- Step 2: Screen
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How are you going to find the investments or trades that align with your goals and objectives? What are your criteria? Innovative optionsXpress trading tools like the Dragon, StrategyScan, the Screener and Chart Patterns can help you scan the markets for the opportunities that best fit your plans.
- Step 3: Analyze
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Once you've determined your criteria and assembled a collection of possible investments, the next step is to analyze these choices within the scope of your specific plan. Determine which indicators – fundamental or technical – will help you best assess each potential opportunity, and begin thinking about entry and exit signals with the help of data-driven resources like Probability Calculator, Quote Detail and Options Chains.
- Step 4: Execute
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With your plan firmly in place, and a number of investment opportunities found and scrutinized to fit comfortably into that plan, it's time to put things in motion using our powerful execution tools and tactics. Take a step-by-step trip through the order ticket with Trade Wizard, scrutinize the latest market moves with Streaming Quotes, or customize your own downloadable trading center with our Xtend active-trader platform.
- Step 5: Monitor
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A good investment plan needs ongoing care and management to ensure that it's continually meeting your goals and performing the way that you envisioned. But when your original goals or the markets change, you may need to go back and alter your plan, screen new ideas, do more analysis, and possibly move in a different direction. Stay on top of changes in the markets with helpful tools like Charts, Watch Lists and the Alert Manager, check in on your portfolio while on the go with OX Mobile, and use the Position Analyzer and you personal Trader’s Journal to adjust accordingly.
