What one thing did I do best this week and how I did I do it?
Re organising my Best Practices in to one place, especially my statistics was extremely helpful and productive.
This same step has allowed me to focus on my trading and if I needed a tool then it was there.
The changes I made to the way I do my statistics has allowed me to incorporate the stats into my trading in a simple and less time consuming way.
What one thing did I do badly this week and what led me to do it?
Fiddling with my settings on Bookmap. Whilst I am still on the learning curve with this piece of software and fine tuning my settings. A constant adjusting of the settings is not allowing me to settle in with just using the software.
What specifically will I do next week to continue doing what I did best?
To continue to use the current method of implementing my stats to adjust areas of interest and my intraday trading plan.
What specifically will I do next week to improve what I did worst?
To implement a new best practice, that any new tool that I incorporate into my trading, that I have to live with the setting for a minimum of 1 day for the first week and then after than I have to live with the settings for a minimum of 1 week before changing anything. That will give me time to settle in and actually access the changes properly.
How well did I achieve my “continue my best” goal last week and what do I need to do this week to continue/improve upon that progress?
Playing more attention to prioritising hypos is going well. I sometimes forget to write up the reasons why a major level is a major level. So need to work on this so it becomes habit.
How well did I achieve my “improve my worst” goal last week and what do I need to do this week to continue/improve upon that progress?
The reason I am only saying that my no fill problem seems to be improving, is the small sample size so far. The first week I had internet problems so did not spend as much time looking for trades as I normally do. The second week had Thanksgiving in it, so again not as many trades as a normal week.
So why I have made the decision to purchase this software.
Using Bookmap, it has allowed me to visualise the order flow which in turn has kept me out of 2 trades which would have been losers, and has got me into a 3 trades at the right time. The other trades it did not make much difference to in my entry. The profit from those trades has paid for the software.
As I have mentioned before, my criteria for using paid tools / resources is simple and has to parts.
Is it going to pay for itself?
And will it generate more profits than not using it?
The first criteria has been met and the second is looking positive. Therefore I will continue with Bookmap and write up a further update on my no fill problem at a later date.
Of course I still have no fills, sometimes the market just takes off and I do not get a chance to enter or I just got a no fill. The end result is not going to be that I get filled on every trade. I think that is possibly a un realistic goal.
Also sometimes I have hesitated in my decision making too long, and that problem lies with the tool that is pressing the mouse and not with the software tool itself.