A new year means an opportunity for a fresh start at trading. What can you do to start the trading year on the right foot? Here is some of the best advice that we collected from our traders. These are tried and tested methods that you can do to help start the year off right. There’s never a better time than now.
Review December performance. What did you do right, wrong and what can you do better.
Make and set realistic goals for Jan and 2018: innovation goals, size goals, P&L goals
Pick one of your worst habits from last year and aim to improve.
Find a new partner to innovate with.
Review trading rules after getting back from vacation, you newbies.
Go through your playbook and remind yourself of seasonal markets.
Look at old markets see if edge has come back
Organize your Data World: Workspaces and Worksheets
Redo your trading and chart workspaces
Review markets that you watch but don’t trade. Is it time to trade them on sim or live or time to delete them?
Redo spreadsheets and update with market changes
Update your emergency procedures with all new phone numbers.
The Physical World Organize, Refresh and Reenergize
Clean your desk, rearrange it.
Declutter your workspace/desktop.
Think about moving your desk somewhere else. Closer to a trainee with fresh energy and ideas or a senior trader with years of experience.
Get back to your proper sleeping, eating, and exercise routine. I’ve read Ed Seykota does meditation.
Buy a new journal.
Set personal goals for yourself for new motivation.
Read that book you said you were going to read last year.
What are your New Year plans for trading? Drop us a comment below.