This morning I focused intensely on the Bund. No ES or Euro, just the Bund. I did my homework before the open and I’m proud to say I traded exactly by my plan.
The 6 tick loss turned out to be key, because I reversed and went long and got 10 ticks. If I can keep all stops at 8 ticks or less then I will be able to increase size and capture more of the big moves.
Here’s how the elements in my list from yesterday helped me today:
- I focused on only trading my pre-planned areas before the open. I didn’t invent trades.
- No twitter or anything else. Just relaxing music. Allowed me to really focus.
- I was constantly talking out what I was seeing and what could happen. This was very useful.
- My homework was average, I can do better as there are things I missed.
- Decided where I was wrong on each trade before entry and put my stop there. Didn’t move them.
- Traded 1-2 max.
Do you have a list? Do you measure your progress against your list? What do you have to improve?