Hi all, Just wondering how do futures traders prepare for the trading day? Do u ppl keep a trade journal or trading log? I am interested to know what kind of homework futures trader do before the start of trading.
I know the pivot points for the day, yesterday's high and low, the high and low for the week, and some short term moving averages. I also know the time of any economic announcements. I keep a journal of the trades that I do and the journal consists of a. why I did the trade b. what I expected the trade to do c. what happened on the trade (actual) d. how I managed the money on the trade. Howard http://www.tapetactics.com
Driving 70 minutes at 4:00 am PST to a trading floor cause my broadband at home sucks hind tit. Tuning into business radio shows to get the news and focus on the day. Once at the Office, I am managing small overnights and putting on a few small probe trades pre-market and follow them on the open.
i crack open a fresh bottle of scotch, single malt, any single will do, glenfiddich, glenlivet, any glen will do... then i proceed to knock down a few before teh bell... i fits a particularly active day liek todays fed announcement i will sometimes use a bourbon...
like to stick with bourbon. have the bottle finished before lunch so i'm good and liquored up for the close. my own special brand of risk management.
This has been discussed before. Here is what I said several months ago. Today, my routine is even more involved: http://www.elitetrader.com/vb/showthread.php?s=&postid=41694 I mostly listen to Bloomberg now, and I read the Wall Street Journal, but concentrating on the back pages. Also read the pay version of Briefing, the Yahoo site that tells me what numbers have or are to be coming out that day. I also browse other sites on the Internet. Sometimes, I do this the night before if I have the energy... nitro