Weekly System (for 2 Year Plan)

overview

In my last post, I talked about my 2-year goal and outlined a very broad system: plan my trade, trade my plan, manage my trade, record my trade, build my numbers up and learn my KPIs.

This a nice sound bite but actually, it provides very little in the way nourishment or sustenance for the tired trader/investor at the end of each day. What follows is a breakdown of what actually needs to be done. To clarify this information is in my TTP and SBP but is not as clear or concise as it is here, I will print this off.

weekend system

The weekend marks the start of my trading week and is when I do the majority of my work. There are 4  major jobs which consist of 9 tasks, I find I need to take a short break between each job.

Week to week my energy levels differ, so it is hard to specify an exact time to as when this work should be completed. What I can say though is that in order of preference they would be 1, Saturday Morning, 2 Saturday Afternoon, 3. Sunday Morning, 4 Sunday Afternoon, 5 Sunday Evening,

job 1: markets

1. Monitor the MOTR (Momentum and Trend) of each market (approx 40) (MOTR)
2. Find potential W1 and MN trades (MN, W1 candle setups with momentum)

3. Define where the MOTR Matrix is heading to across the markets.

job 2: trades

4. Update profiles,  add those with matching MOTR, remove those without (D1 long/short watchlist)
5. Review profiles for setups (D1 long/short watchlist)
6. Review potential trades, do they pass all your requirements (ie pin bar tail at least 60% of candle)

job 3: review

7. Review trade sheet and journals if appropriate. This needn't take ages. Just a weekly check-in to take stock and remind yourself of your KPIs.

job 4: broader themes

8. Research economic data due for the upcoming week.
9. Be aware of the current themes (FTWeekend and MoneyWeek).

daily system

Each evening I have 3 jobs consisting of 5 tasks.

job 1: themes

1. Stay abreast of news developments (twitter and FX street app)

job 2: trades

2. manage open positions (end-of-day).
3. Check for new D1 trades in Long and Short Profiles (end-of-day).
4. Review potential trades, ensure they match trade criteria.

job 3: record

5. Record closed trades (Journal and Trade Sheet)