Day Trading

tradecity
1 Organizing Yourself & Creating Trading Plan
Tools Need:
• Evernote Or Scrivener
• Wunderlist
• Edgewonk
• Backtesting Software
• Snag it
Need Right Plan :
• When to do what
• Trading time is sacred time
• Plan other activites around your trading
• Reviewing and journaling has to be a set in stone part of your routine
• Learning and improving, reading new material, do it in an organized
manner (research)

Self-Organization Is The Key To Success:

• Structured, Focused Work Is What Will Get You What You Want
• Multitasking, slacking, off and dabbing into everything will get you
nowhere
2. Setting Up System And Integrating Trading
Journal
3 Identifying Your Flaws Trading Is An Uphill
Battle Against The Self
Self-Observation Exercise:
• Each one of us has a different psychological make-up
• There is no one-size-fits-all solution
• Observing our mind and loudny describing what it does serves as our
“minesweeper”-imagine yourself outside of your body, waching
yourself
• Take notes during the session on notepad, review after
Ways To Deal With The Identified Flaws:

• Observing yourself will become an automated prosess after a while

• Stop trading when you identity one of your weaknesses coming up
• As daytraders, we have to work on our C-and B-game: minimize the
impacts of our flaws
• Get the correlation of your flaws black on white with Edgewonk,
much easier to believe their impact, to work on them, to see progress
4. Other Factors Worth Considering To
Improve Your Performance
Physical Health:
• Especially for daytraders incredibility important
• Cardio Exercises, Strtching (Yoga), Bodyweight/Martial Arts
• Sleep – healthy, sufficient
• Nutrition-light, lot of water and vegetables, low carb
Psychological Health:
• Entirely up to you, goalsetting has a part in this, too
• Pressure from yourself & from peers
• Work-life-balance (social life, sport)
• Brain jogging: read books you don’t understand, be creative
• You need to be in a netral state to trade (like a sine wafe)
Pressure Does Matter – Additional Income:
• Risk : Reward or ROI for beginning daytraders in incredibility horrible
• Should work on Plan B, C, and D
• Takes pressure off your trading, increases your result
• Takes mind off trading
• Gives you a chance to boost your bankroll by other means
• Increases your chances of success thousandfold
5. Example Trading Plan