Those who are regular reader of this blog know how I stress the importance of a very detailed trading plan. I built my plan through observation and back testing, both by computer and by hand scouring my charts. Lots of hard work that makes the later work of trading easier. Part of this effort was listing entries and exits, profit and loss on a spreadsheet that I then used for further analysis.
I showed Kiki how to do this. Her reaction was to ask why there wasn't an easier way of doing this as we weren't re-inventing the wheel - what we wanted to do must have been done by lots of others. Of course she was right. A few years ago I trialed a program called Market System Analyzer. I have recently had another look at it (http://www.adaptrade.com) and have decided to try it again. It has the ability to get right inside your trading plan, take your trades over a statistically significant period and allow you to do a lot of "what ifs". You can see if your money management can be improved. Are you risking the optimum amount of your capital per trade? Is using $5,000 per contract best? Are you scaling out the best way you can? Should you trade during NY lunchtime? And lots more.
I have a continual self improvement policy, and I am constantly looking for ways I can improve my performance. The numbers tell it all for me. My base methodology doesn't change but I believe that I can make more money by examining my money management. As I get this tool working in the next few weeks I'll report back my findings.
Now for today's trades. I love it when a plan comes together. 2 trades made over $900 on a 3 contract basis and we took no heat in either trade.
Click to enlarge
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