Trading the Bund – Weekly Trading Review 22-26 February 2016

What one thing did I do best this week and how I did I do it?

Good read of the market and when I did not, I stood aside. Focused on trades that had decent R:R at the best levels.

Looking back at my trades, a good percentage of my scalps are low R:R and provide very little of my overall expectancy. The 80-20 Pareto rule definitely seems to apply to my trading.

What one thing did I do badly this week and what led me to do it?

Broke my anti micromanagement rules, a couple of times. This is still an ongoing problem for me, but overall an improvement on previous trades. My stats show that the linear trend line on my exit price vs the maximum favourable excursion (after exit) is in an uptrend compared to the beginning of the month where it was flat.

Drivers of this behaviour

1) Lack of confidence in myself. This is slowly improving.

2) Having a string of winners, makes it harder to hang on to subsequent trades. Focusing on that each trade whilst an individual trade is just part of a sample size of 1000’s of trade have helped.

What specifically will I do next week to continue doing what I did best?

Monitoring 2 markets has taken the pressure of finding a high probability trade in just one market.

I will also keep the focus on just taking the trades that are the best setups and work on improving the return from these trades rather than trying to improve my volume of my overall trades.

My reviewing of the market at the end of the session has been very sporadic over the past couple of weeks, mainly due to life getting in the way. No excuses must get back to doing this as it was helpful for me and improved my chart reading.

What specifically will I do next week to improve what I did worst?

I will keep the new management rules in place for intraday swing trades.

I will keep my daily mediation practice up.

I will continue video analysis of my trades, this has been a bit sporadic mainly on the scalp trades, as I forget to do it. I want to video before entry so I can see my reasoning without any billy bollocks hindsight. But as a stepping stone, if I forget to do video before entry then I will do it afterwards, and work towards making this a habit.

Summary

Main goals this week –

To hold on to a core position for the hypo /swing trades, with new rules for managing these trades.

To continue to front run my levels by 3 ticks with the main bias and front run 2 tick to levels against the bias.

To trade the Eurostoxx on the main levels if there is not an opportunity in the Bund.

Video every trade preferable before entry, but if this is missed then after entry.

Get back to reviewing the market and posting it every day.

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