Daily Trade Review Process

[CanOz]

Thanks for all the feedback, lots of great stuff...I can see that many would find a detailed daily review a waste of time and something that likely wouldn't get done eventually.

So my daily routine still includes the review, but not detailed....which I do a clean price chart. It's quick, a couple of notes to myself on areas to improve today....then onto the homework.

My goal for this month is to be even after commissions, as a minimum.

Pretty much sticking to just CL...

CanOz

 

[tech/a]

Yes

I think simple is best.
here is an example.

Click to expand

 

[Trembling Hand]

I don't see the need for daily review. It would just make me not want to turn on the computer each night!

I simply log on and adjust my stops and do a quick scan for new prospects. Doesn't take long at all. That's how I want it to be.

As posters above, I simply review my stats and that gives me an indication of what I'm doing right and wrong. I save all my trading charts too. After a couple of months I'll do a brief review of my trades then all at once.

Yes but you are not doing 20 trades a day (or 100). You have nothing to work with. This is where intraday has an advantage for a learner. IF done correctly you will do in a month what a EOD trader does in a lifetime.

 

[tech/a]

Yes but you are not doing 20 trades a day (or 100). You have nothing to work with. This is where intraday has an advantage for a learner. IF done correctly you will do in a month what a EOD trader does in a lifetime.

So your saying that a good intra day trader will be a good EOD trader
But not the other way around. Not disagreeing but feel that both are different.
I don't think you need be a good intra day trader to be a successful EOD trader.

 

[Trembling Hand]

So your saying that a good intra day trader will be a good EOD trader
But not the other way around. Not disagreeing but feel that both are different.
I don't think you need be a good intra day trader to be a successful EOD trader.

no.

 

[tech/a]

no.

IC.

 

[CanOz]

Pretty happy this Friday evening...picked up another 21 ticks net today on 11 trades, mostly on GC, one on CL.

I missed the trade of the decade on GC though saw it coming a mile away...even Tweeted it! I was long at like 73 half and puked at the second PB to 74.8...only to see the contract completely blast off like a farkin rocket at 17:50 to 87!!!

Waited for that trade all week...i will never forget that!

CanOz

 

[Kalaika]

Evening all,

Sorry about the stupid question, but I'm playing "acronym bingo" as some of the posts are going over my head, trying to understand CanOz's strategies over the past few days. I'm assuming "BE" is break even, but can't for the life of me work out CL and GC?

Please don't reply with RTFM or LOL!

Thanks, K

 

[CanOz]

Evening all,

Sorry about the stupid question, but I'm playing "acronym bingo" as some of the posts are going over my head, trying to understand CanOz's strategies over the past few days. I'm assuming "BE" is break even, but can't for the life of me work out CL and GC?

Please don't reply with RTFM or LOL!

Thanks, K

I would never lol or RTFM...errr what does that mean? Shouldn't it ne ROTFLMAO?

Anyway, CL is the Crude Oil Contract and GC in the Gold Contract on the CME (Chicago Merc.)

Yeah, BE is Breakeven...

MP is Market Profile
DOM = Depth of Market
BS = well you know...

No such thing as stupid questions in my thread!

CanOz

 

[Kalaika]

Thanks CanOz, that helps.

RTFM: I was an IT nerd years ago before changing vocation - the philosophy was "You got a got a problem with your PC / solution / code? Read The ** Manual". Ill let you fill in the blank

I've been obsessively studying the AS forum the last few weeks trying to pick up some pearls of wisdom. I'm keen on posting the bare bones of my trading plan soon to get some feedback (I'm a relative newbie). The biggest challenge I'm currently dealing with is information overload - I'm trying to work out what stuff isn't that important when considering things like risk & money management, entry /exit / loss rules etc.

I keep reading that simpler is (relatively) better, but making judgement over what is too simple etc is a challenge.

Well done on your own approach and your candour in sharing how you are progressing. Hope you are successful with it.

Cheers.

 

[CanOz]

Well today was a slow day, i did well to stand aside for most of the day:sleeping:. At one stage i was -11 ticks and then i caught a prime setup just before the Pit Open and grabbed +13.5 ticks, for a net +2.5 ticks.

Today was a UK bank holiday, from now on i will pass up on trading GC and CL during the European session when its a holiday in the UK or Europe. Trade is slow and there is just no follow through. This could be part of messy Monday anyway. With a light data calendar i should have expected as much.

Anyway, its all good, with another positive day.

CanOz

 

[CanOz]

Well i didn't have a very good day today, i hit my daily stop. I had some major data issues and i should have stopped trading once i noticed it, instead i suffered some bad slippage as i tried to get out of a position...

New rule, first hint of data issues, I'm done for the day.

Back to Square one...

CanOz