25/9 – Sunday afternoon trading preparations

preparationsBeing 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]

 

Bring on Monday.  Good luck to all the other traders out there.  May the better traders win!

This entry was posted in Psychology, Trend-Following Strategy. Bookmark the permalink.

2 Responses to 25/9 – Sunday afternoon trading preparations

  1. Pingback: 27/9 | Trick or Trade

  2. Pingback: 29/9 – Trading Week Wrap Up | Trick or Trade

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