It’s Sunday, a perfect day to reflect on last week’s trading activities and gear up for the upcoming week. Reviewing my trades from the past week, I carefully analyzed what went well and where improvements can be made. This reflective practice is crucial for identifying patterns, refining strategies, and ensuring continuous learning.
Continue readingDate Archives → June 2024
Mastering Backtesting: The Idiot Trader’s 5 Phases to Success
Backtesting is a vital process for evaluating and refining trading strategies. As The Idiot Trader, I follow a structured five-phase approach to ensure a thorough and effective backtesting process. This method balances detailed analysis with real-world testing, helping traders develop reliable strategies.
Continue readingPaper Trading Day 3: Reconnecting and Rediscovering
Yesterday was an unexpected day off from trading due to the heavy rains that caused massive traffic delays. By the time I finally made it home, it was almost the New York closing time, leaving me no opportunity to take any trades. Instead of feeling frustrated, I took the chance to review and revisit some of my older trading systems and reconnect with my mentor from my DAX trading days.
Continue readingPaper Trading Day 2 – The Consequences of Breaking My Own Rules
Hello fellow traders, The Idiot Trader here!
Today was a challenging day in the market. After starting off with a modest 0.10% gain yesterday, today I faced two losing trades, bringing my overall performance down to -1.49%. It’s a stark reminder of how quickly things can change in trading and the importance of adhering to one’s strategy.
Continue readingPaper Trading Day 1 – A Slow Day in the Market
Today marked the start of my one-month trading practice after a long two-year hiatus. I had planned to trade at the New York Open (NYO), but life had other plans. The notorious traffic had me running late, and I only managed to get home 45 minutes after NYO. By the time I sat down at my trading desk, I knew I had to make the most of the remaining trading window.
Continue readingEmbracing the Journey: My Return to Trading After a 2-Year Hiatus
I’m thrilled to announce that I’m returning to the world of day trading after a two-year break. As I step back into this exciting yet challenging field, I feel a mix of anticipation and determination. This time, I am starting from scratch, ready to relearn, adapt, and grow. Here’s a glimpse into my plan and what you can expect from my journey.
Continue reading