I just wanted to post what i've started doing for my daily trade review process now that i'm trading live again...with a reliable connection.
So i've added the daily trade review to my daily homework routine and i'll do it before i structure the market and prepare for the days session.
Basically what i'm trying to do is scalp up a cushion, in order to take larger size trades at my levels.
This week is live practice on CL to build up that cushion.
What i would like to know is if my trade review process is adequate, or if any of the more experienced traders could give me a few tips on what to add or take away.
The review of stats is not included, but thats part of the process. What i'm focusing on here are the individual trade reviews.
I review and rate (out of 10) each trade in order for:
Concept - what was the idea behind the trade and how do i rate the idea?
Entry quality - did i get in where i should have?
Trade management - Did i manage the trade as well as i could have considering BE, scaling in etc.?
Exit - did i exit the position correctly?
Overall emotions - How did i feel during the trade, relaxed, nervous, etc.
Total Avg. Score
What to do less of or stop doing:
What to start doing or do more of:
Here is an example:
Concept - brk lower thru band, 7 good idea, lots of selling pressure evident on the tape
Entry quality - 9 not too bad, right when the orders started to hit the bid...
Trade management - 2 I exited too early when the price hit the next level, i should have went to BE or waited for buyers....they never appeared.
Exit - 0 exit too early
Overall emotions - 5 a little nervous, it happened quite quickly, scared price would snap back...
Total Avg. Score 4.6
What to do less of or stop doing: Need to stop taking profits too early
What to start doing or do more of: Setup the NT ATM to move me to BE automatically and stick with it unless the buyers jump in and it reverses.
What do others use as a review process? Am i considering everything?
Edit: Thanks SKC...i just found this thread as well