16/4 – K7 Strategy Review Part 2 & one small win on the DAX

On Thursday, I completed the second half of my K7 strategy review.  I looked at some of the 100 trades in more detail and wrote down my gut-feel as to what adjustments I need to make (which carried on from the points I mentioned on the first part of the review).

  • some of my bad trading habits (particularly trading when I know that I am no longer in the right frame of mind for it at a certain point in the day) are my real enemy and are costing me profit/loss – I just need to avoid this – i.e. not do it!
  • increase my preparation to some degree – similar to what I did before – this involves reviewing the charts of the instruments I intend to trade and noting key levels that may come into play
  • As well as anticipating the scenarios that might play out throughout the upcoming trading session, and how I want to handle these potential scenarios
  • Limit the instruments that i will trade and work through them in a logical manner each day – so this will be Cable, DAX, EURUSD – I have also added EURJPY – plus I will add 1 wildcard each day depending on strength/weakness momentum
  • Each day will also do a higher-timeframe review of all instruments with a transaction costs of less than 2.5% of daily ATR – this will help me be aware of overall market sentiment as well as help me to select wild-card instruments
  • Tightened up a little and documented my setup template for K7
  • Get my trade documentation (record-keeping) back up to scratch so it’s easier for me to review the trades each day

Some of my work has loosened over recent trading sessions which may partly explain the drop in results.  So returning this to normal, coupled with the Miss Turquoise-inspired trading approach should get me back into the black in no time.

Finally took one heat-free trade on the DAX trading into the 12,000 zone, winning 0.75R.

Should be back to normal trading process tomorrow – I am happy in that it took me barely 3 weeks to execute 100 trades, and then just 2 days to do somewhat of a review.  This is considerably faster than on previous occasions.

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4 Responses to 16/4 – K7 Strategy Review Part 2 & one small win on the DAX

  1. FXTraderPaul says:

    Do you use the Heartrate app on your smartphone? It would be interesting for you to to take readings before, during and after trades. See what if any changes your physiology goes through during your trading session. (Written after a morning trading session with a heartrate of 59BPM btw!)

    Like

  2. Pingback: 28/4 – Trading Wrap (Blog Post #466) | George's FX trading blog

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