June 14, 2015

A Trader's Daily Routine/Process

What's up guys? I talk a lot about the importance of creating a routine for each portion of the trading day, including weekends. In fact, in my Laws of Trading blog post, I arrogantly stated that,

"A structured daily routine (a.k.a. process) is the single greatest predictor of a successful trader. Don't focus only on trading successes & failures or swings in P&L. Focus your energy on setting a clear routine for each portion of the day, as well as weekends, and adapt that routine as you evolve as a trader."

So in this post, I wanted to give you a better idea of what I meant and what my daily and weekly routine looks like. This is just my routine and hopefully it you gives you some ideas to work with in order to craft and refine your own routine to tackle the stock market.

Pre-market 8am-ish
Review today's trading goal.
Check watchlist stocks. Check TOS for stocks gapping up for chart patterns.
Perform TA then look for any of my best trade setups with good signal bars. 
Journal thoughts about chart and trade ideas to improve performance and reduce stress.

Midday 11am-ish (after work around 2pm-ish for me)
Run finviz scans for chart patterns, open 5min chart in TOS. Check news if needed.
Perform TA then look for any of my best trade setups with good signal bars.
Journal thoughts about chart and trade ideas to improve performance and reduce stress.
Screen-shot stock charts, copy journal, and paste both into journal PPT.

Evening 8pm-ish
Review each trade: long/short bias, TA, execution, and commitment to the pre-trade plan.
What did I do well? What could I have done better?
Did I follow the rules of my trading system today? Celebrate!
Check watchlist stocks and finviz scan for chart patterns. Check news if needed.
Perform TA then look for any of my best trade setups with good signal bars.
Select the best 4 stocks and write a short game plan for each.

Weekends
Review past trades and charts and their respective journal entries. This helps improve my pattern recognition skills, experience, and confidence in my trading system.
Review helpful trading videos and/or read helpful trading articles.
Write a helpful blog post.
Check watchlist stocks and finviz scans for chart patterns. Check news if needed.
Perform TA (if this wasn't done on Friday). Check news if needed.
Select the best 4 stocks and write a short game plan for each.
Journal thoughts about the week to improve performance and reduce stress.

Technical Analysis (TA)
Daily/1hr/5min chart pattern, trendlines, sup/res, price bars (trend bars versus range bars), magnets, and 20 bar EMA.

Take care!
Jory

1 comment: