Being Sunday afternoon, and having spent several hours roller-blading/inline-skating across central London, I spent several hours in the trading office,
As stated earlier, I was away for the past seven market sessions. I am eager to get back into the swing of things very promptly – I want to hit the ground running. I wanted to get back into the positive mindset where I had left off after the last skype call with my trading coach around a week and a half ago: Hence, I did the following….
- Trading Strategy & Chart Reviews – I reviewed the 1H charts of the 30 instruments that I monitor (mostly FX pairs) for these 7 sessions and identified all the valid setups that occurred and noted how each of them would have turned out (winner, scratch, loser).
- This reinforced what I am looking for in each setup – so that my brain is focused from the start of the upcoming trading week. I will have a clear picture of what I am looking for on the chart.
- The review indicated that the strategy should now work better than it did in the 10 sessions I tried in the first half of September. An alternate view would be to say that the market conditions have been more suitable for my strategy.
- Trading Habits & Processes – I recalled that I have put (and complied with) solid processes regarding preparation, documentation, discipline and risk management. Following this will keep me away from danger and make profitability more likely.
- K5 Trading Strategy Objectives – I reviewed the main points that I need to work to continue progressing and to get into profitability with the K5 trading strategy. TraderDi and I had discussed these in our last skype call about a week and a half ago.
- Developing a mechanism for assessing suitability of market conditions for the K5 trading strategy
- One potential trade entry refinement – which would get me into the trade earlier
- Considering lower timeframes (such as 5M and 15M) when suitable market conditions are not present on the 1H timeframe
- Sleep, Exercise & Nutrition – Whilst I was away I again thought about the importance of these variables when engaging in tasks requiring a lot of mental concentration. It was a good reminder that I need to incorporate more of that in my trading activity.
- Emulating Successful traders – I will reading and following various established traders such as FuturesTrader71 and Peter Brandt; monitor my trading-orientated Twitter feed, and also listen to more Chat With Traders interviews. [I realise that there is a huge amount of content out there – I figured these sources are going to help me a lot]