- Reduce total number of trades. In December - i had 116 registered trades (yikes). Looking back i realize that i spent way too much time in initiating entries and not enough managing actual trades.
- Allocate more time on managing open positions -meaning allowing more time for movement to unfold when positive and cut loose of losing trades at the right time.
- Re-visit trading timeframes - right now most of my decisions are made based on the 10 minutes / 3-4 timeframe. I am using the daily / 6 months view to see the bigger picture and the 30 minutes / 5 days for support and resistance areas. Reasoning behind looking at a different timeframe is to minimize risk and increase win %. Right now i would say that my win % is approx 50% but cant say that i am making profits at the end of the month
- Concentrate on a few good set ups and become a master at trading them on a consistent (profitable basis)
Sunday, January 3, 2010
In the new year i would like to accomplish the following: