Tuesday, 28 June 2011

Post Mortem

We've discussed pre-trading prep but I haven't talked much about what I do after my trading is over for the day. Yes, a nice glass of wine but there's still work to do.

First thing I do is "check out". This is an old floor habit where I check that I am flat. On the floor it also included checking with my clerk that all my trades had "matched" with my counter parties in the LIFFE computer. No out trades!

Off floor, there's a bit more to do. I go through most of my trades to see how I performed. Did i stick to my TP? Did I enter and exit where I should have? Again, for the most part, I isolate off piste trades and tell myself not to do them. I do a review of my thinking, my pre-trade vision and any adjustments.

And finally, I make marks on my chart for anything i want to make sure I remember the next trading day. Things I saw or thought while I was trading.

Before my first glass of wine I also run any backtesting I need to do. If I had a new idea, I test it.

These things become a habit but consume hours every day. There's no free lunch. "The harder I work the luckier I get".

1 comment:

  1. EL-

    Good structure for EOD review. I have incorporated the same.

    On the chart, were trades #1 and #4 based off the EMA crossover in conjunction with the weakening fast CCI (it had not returned to the zero line as per normal TP) or was there something else that signaled your entry (#1 looked like it was outside the Keltner)?

    Would also love if you would discuss when you change the CCI periods up to 135.

    Again, thanks for the hard work.