Weekly Trading Review 17-21th October
Not much to report on this week.
An underperforming up week. Still having problems with micro management issues.
My goal of increasing the number of trades I take, if there are valid opportunities, was missed again, but orders where placed and there was quite a few no fills again.
My average grade is A, so am improvement over the last couple of weeks. Still managed an A even with micro management issues, so the other aspects of the trades where good.
4 errors this week. 2 minor, and 2 were micro management issues.
Money left on table is an average of 8 ticks for every trade that I have micro management issues on.
There was 7 trades I did not take. 5 where unclear entries but my gut was saying that these were good areas to take a trade. I am tracking these sort of trades over time to see if my gut instinct has an edge in these situations.
2 trades I chicken out on due to the strength of the move. I left my balls at home.
Out of the 7 no fills, 2 where shit happens trades and I just did not get filled. The other 5 are being included in the sample, see below.
Last week Goal
The main goal of last week was to manage the 60min level trades off the 15min chart and to ensure that correct targets where placed and managed correctly.
How did I do
Overall pretty shite. Cannot stick to the intraday swing rules, I keep managing everything as a scalp, and finding grey areas in the process allowing me at the time to wriggle out of this.
What did I do best this week and how I did I do it?
Good focus and good process. Slightly distracted by social media and lots of messages and emails asking questions but overall managed to maintain a good focus.
What did I do badly this week and what lead me to do it?
The micromanagement issue is not improving. So I have taken the following steps.
1. I have written clear rules that focus only on 2 types of setups off the 60min level. If I still have issues, then I will reduce that to one.
My thinking here is that I just have to start doing it. Once I start doing it on one setup, it will be easier to turn that into a habit on all relevant setups.
2. I discussed with Tom Dante, some practical physical ways to approach this. And I have included them in my grading system, so that if I do not follow them then I get downgraded. I also have to note in my trading journal as whether I followed these physical ways, so I can track that whether I am doing them when I said I would. And if I don’t, Tom gets to phone me up and call me a cunt. Brucie Bonus.
The other major thing is the missed trades and no fills. But as I mention last week, I am tracking my no fills with reference to where I place my order and where I get filled.
I am also doing individual trade reviews of the no fills, with playback, looking at the order flow and re analysing the whole trade.
I started doing this last week. It is very time consuming and boring but already it is has shown some interesting areas to investigate further, which should pay off in reducing no fills.
But before any decisions can be taken I need more data.
I will continue to review and analyse all the no fill trades and record that information.
I am will continue the deliberate practise but reduce the order flow setups and include the intraday swing trades as part of my deliberate practise. This will be difficult to do, as these trades take up to 2 hours to play out, if I speed up the session replay then I am not deliberating practising the patience. So I will experiment with the settings, but the max I will go to is 2x speed.
Still implementing and still collecting data.