The past few weekends, I’ve been coming into the office to prepare for the next week of trading. Generally I do this at home, but when I need to get a lot of work done, I’ll come into the office to do it. Since I feel like we’re at a turning point in the market, I’ve been doing some more work.
Generally, I’ll look over some tape from the past week. I’ll look at tape from some of the stuff I traded that week. I’ll focus on things I traded poorly, but I also look at stuff I traded well, and try to figure out how I could’ve traded it even better. This has helped me identify places in trades where I could have been more or less aggressive.
Next, I’ll try to identify levels in stocks I trade. Levels I think will give me an advantage during the week. I use Prophet to look through charts. I think it’s a great resource to scan through lots of charts pretty quickly.
Probably the most important part of my weekend preparation comes with my reading. I will read through a bunch of different blogs to get different perspectives on the market. From there I can see what will be market moving forces during the week, as well as get an idea as to what situations could arise that would affect the market later.
Last, I’ll visualize my trades. I don’t necessarily set aside a specific time period for this, but randomly throughout the weekend, I’ll visualize trades that I see myself executing throughout the day.
All in all, I think weekend preparation is a definitely needed to be successful. I think having a few days off gives you the ability to calm yourself down for a little bit from the market action, and think a little clearly.
6 Comments on “Weekend Preparation”
Hello,
One of my most difficult tasks is to select the stocks I will trade from the whole universe of stocks. What picking process do you use, what are the most important things you look up to in order to select your watch list.
Thanks,
Renato
Hello,
One of my most difficult tasks is to select the stocks I will trade from the whole universe of stocks. What picking process do you use, what are the most important things you look up to in order to select your watch list.
Thanks,
Renato
what blogs do you read and can you tell me more about prophet–also you talk about visualization on a regular basis—any reccomended reading on that subject
what blogs do you read and can you tell me more about prophet–also you talk about visualization on a regular basis—any reccomended reading on that subject
I’d also like to know what blogs you read…
I’d also like to know what blogs you read…