Reviewing YOUR Trading Week

At the end of the trading week, how many of you actually sit down and conduct a review of the trading week just gone? If you can’t answer yes to that question and you’re serious about improving your trading then perhaps you need to fit a weekly trading review into your schedule. It doesn’t need to be a daunting task; if you allocate yourself just 15 minutes at the end of the week to review your trading performance for that week then it can make a big difference to your trading.

So what should you include in your trading review? Well you might like to start with a list of the trades that you took during that week and what trades you may still have open. From there you can work out what your net cash position for the week was and also convert that into a net % change for the week. This gives you a solid overview of how the trades that you placed during the week performed. We then suggest that you set out an area for any general comments you might want to make about the week’s trading. This may involve any lessons that you have learnt during the week or any observations in the markets that was of interest to you.

Lastly it can be helpful to just note down some goals for the next trading week to come. It may be improving on any aspects of the trading process that you noticed in this week’s review which you could have improved on. Alternatively it could be some words of encouragement to continue doing what you’re doing if you have been trading well. By going through the process of working through your weeks trading, you'll soon start to notice patterns and interesting observations that you would have otherwise missed. 

It’s important to make your weekly review relevant to you. So if there are some other aspects which you think would be useful in that review then add them in there. Furthermore, if you don’t agree with putting your net cash position and net % gained or lost for the week on your review then that’s entirely up to you. What’s most important is that you make your weekly review work for you.

Finally, it’s worth having someone to send that review to at the end of each week to make yourself accountable to it. It might be a trading buddy, a close friend or even your partner, just make sure it’s someone that you trust and perhaps who can give you a bit of feedback when needed.

Happy Trading!

Oh... and GO THE ALL BLACKS!!

The TWP Team