Streamline Your Trading Routine by Dave Mabe
Become a more profitable and
efficient trader by automating your
trading. Find out how.
How many times have you been
trading and come across a
great entry price, only to have
the price cruise on by before you can get your order in? Worse, you
discover you were just seconds too late
on your trade of the day as the price is
already extended beyond your entry
point. This is a frequent event in a
traderís life and can often lead to frustration,
which can cloud your thinking
and even result in overtrading.
When Iím too late to get in on what
I think would have been a great trade,
I used to get frustrated. Now I take a
methodical approach to analyzing
trades I miss by answering the following
1. Was this a trade I could have
reasonably seen in time to trade
it? No matter how efficient your
daily routine, youíll always miss
2. Given my current trading routine,
is this a trade I should have
seen in time? If so, why didnít I?
3. Is there part of my daily trading
routine that I could make more
efficient so I can be prepared for
more trades like this?
Answering these questions turns a
frustrating event into an opportunity to
improve. One of my goals as a discretionary
trader is to use automation to
streamline my daily trading routine as
much as possible. There are a variety of aspects of your trading routine that can be streamlined
and in many cases completely automated.