I’ll just go loose here…
First, I need to be making f trades. I spent most of the year coding, analyzing, then doing few trades during open so I lost money, felt bed, analyze more, code more. I didn’t learn from trades, analyze them, I was far away from facing the fear of trading. But… I guess I’m also realizing (especially with my trade form I created) that thinking in terms of EV, R:R, risk etc., make most sense and I need to stick to doing it. Basically, if
- I stick to ST
- Conduct trades via form (now I split it into two forms: Leopard for quick trades with 1 PT and 1 SL and Tiger for up to 3 PT and up to 3 SL; as per screenshot for tabs)
- Don’t trade open until 10:30 unless it’s single directional bet (or straddle that I would like to try)
- Follow and keep improving process for identifying trades
- Follow and keep improving process for building features useful in trades
- Analyze all of own trades
- Track KPIs monthly (# trades, R:R etc., all from order management)
- Read subs to bloomberg, wsj, barrons, marketwatch for leads and market sentiment news
If I stick to those things I should be good
But yes, I also realized that doing big bets can work better than a thousand small ones. I was close to putting a lot of money into TSLA at 220. Didn’t do. BTC looked great technically before election results. Didn’t do anything. ANF wedge I saw I followed and I bet and won. GOOGL too sentiment play and technical. It’s just probabilities and estimations and judgment really. Out of all, thinking about stocks and decisions from EV and R:R perspective is probably most important out of all. And then reducing that process to look for good trades. And then options once consistency is reached for leverage. Finally I feel like I see greater light ahead.
