A trading day with the AtticManTraderIt's important for me to ensure I have some structure to my trading day. My attention span varies from short to very short (so many other things going on!). To help me to remain focused I have found it useful to have a very structured approach to my trading activities - this gives me a fighting chance of following my daily disciplines. What follows below is the routine that I follow during the course of the trading day.
GET THE SOFTWARE UP AND RUNNING.
If I get set-ups I design the trade in my Trade Capture system, ensuring the trade conforms to my Money Management (Base Equity at Risk) parameters.
Once my analysis is complete. I double check my orders against the trade design to ensure I have made no mistakes when keying in the trades.
I then complete this process across the FX pairs that I am currently designing a strategy for.
Once this analysis is complete, (it normally takes about 60-90minutes), I record the daily market overview, which effectively gives me final clarification around my trade designs and acts as a third and final check.
The first thing we do is load up all the software we need to Trade.
Tradestation 8.2 for all my graphing and analysis needs;
Have I closed any positions since my last analysis?
If I have, I look at whether my monthly targets have been met. If they have;
Tradestation 8.2 for all my graphing and analysis needs;
- My Tradestation Swing Anlaysis Workspace
- The Market Analysis Spreadsheet
- The Reporting Spreadsheet
- The MS Access Trade Capture System
Have I closed any positions since my last analysis?
If I have, I look at whether my monthly targets have been met. If they have;
- I protect my capital by either closing all other open trades or moving stops to breakeven and cancel all pending trades
- If my monthly targets have not been met, I check to see if my monthly stops have been hit. I also check to see if I have had 3 consecutive losing trades. If I have I simply shut up shop for the remainder of the month.
If I have not closed any positions since my last analysis I check to see if I have any open positions.
- If I have open positions, I check to see if any exit signals have fired. If they have I close the trade
- If no exit signals have fired, I ensure that the trade still conforms to my money management criteria (2% or 4% of Base Equity at Risk)
- I check to ensure the total Base Equity at risk is less than 6% (or 12%). If it is greater I amend my stops accordingly
If I have no open positions I check on my pending positions.
- If I have pending positions I check to ensure the order is still valid. If it is not I cancel the order.
- I ensure that my Pending Trades (together with any open trades) do not exceed my Base Equity at Risk parameters
If I get set-ups I design the trade in my Trade Capture system, ensuring the trade conforms to my Money Management (Base Equity at Risk) parameters.
Once I have designed a trade I check to ensure my Money Management parameters across all Open and Pending trades remain valid. If they do not, I re-design the trade. If the trade does not conform, then I cancel and look for the next signal.
Once my analysis is complete. I double check my orders against the trade design to ensure I have made no mistakes when keying in the trades.
I then complete this process across the FX pairs that I am currently designing a strategy for.
Once this analysis is complete, (it normally takes about 60-90minutes), I record the daily market overview, which effectively gives me final clarification around my trade designs and acts as a third and final check.
I do find times when verbalising my decision making process highlights errors in my analysis, at this point I will rectifiy them. Recording and posting the video takes between 30 and 60 minutes.
I AM DONE
I sit back and relax....Well in reality I work on other set-ups and think about the markets, but the disciplined section of the my regime is complete!!
I AM DONE
I sit back and relax....Well in reality I work on other set-ups and think about the markets, but the disciplined section of the my regime is complete!!
