Weekly Trading Review 21-25 November
Summary of Performance
Overall a poor performance with nothing much to write home about.
So a bit of a temporary setback with my trading. But before I start panicking, it is one poor week and before I beat myself up, it is has to be put in context. This is my first down week in a few months.
But drilling down there are 3 main issues with this week.
I am going to list the issues and then go through why I think I had them issues, and finally what I am going to do about it.
1) Over trading. Big increase in the number of trades this week.
2) Drop in quality in the trades. Average trade this week was a C.
3) Increase in errors.
I did not follow my processes, which lead me to taking more poor quality signals, which lead to an increase in errors and I then indulged in a bit of revenge trading, which of course lead to more errors and more poor quality trades and over trading.
The trades that I took that followed my processes where good, with a win rate of 73%, but the shit trades were numerous.
Why did I not follow my entry process, because I was focusing on the lower time frame too much and not updating my mini plans and journal, which both have measures to stop me from making the above errors.
Why did I not follow my analysis and mini plan routine. Complacency and I was being very haphazard following my overall daily routine. I did not do my full pre market routine, I was not taking breaks, I was not keeping myself hydrated, I was not exercising.
Why was I not following my daily routine. I was over sleeping every morning just a little bit, but this then put pressure on my morning routine, which then set me up for not following my routines.
Why was I over sleeping. Struggle to drag myself out of bed because I am very tired.
Why I am tired, because the number of hours I put in to this, is only kept in check with taking proper breaks and getting the right amount of good quality sleep.
Why am I not getting the right amount of good quality sleep, because I am not going to bed early enough to get the right amount of sleep.
What am I going to do about this
It all comes down for me, to routine and process. I let one slip and the knock-on effect escalates into poor performance.
1) Ensure that I am in bed so that I get a minimum of 7 hours sleep. As per my normal routine.
2) Ensure that I am up promptly, so that I can completely my pre market routine completely without being rushed.
3) Ensure that I take breaks, exercise and keep hydrated during the day to ensure that decision fatigue does not become a problem, resulting in breaking routine / process and the inevitable poor outcome.
Summary, the hard work I have done to find an edge and find the best process to manage that edge is not thrown away by one week of poor performance. But it will be thrown away, by not keeping to the best practises, that I know that makes me profitable.