June 2019 Special Course By Wyckoffanalytics
It is conventional wisdom that traders who are profitable over the long term have learned or developed a system that gives them a consistent edge in the markets.
While true, many traders focus on creating and tweaking one or more outcome-centered systems, neglecting the underlying process.
In Trust the Process, I will show you how to develop a personal process that incorporates the essential, recursive habits of top traders. These materials should benefit traders at all levels of experience.
During these three two-hour sessions, we will cover:
Filtering – This is the key ingredient of the Trading Process.
How do we identify the best potential trade candidates without spending inordinate amounts of our precious time? We will focus on weekly filtering for long-term positions and more frequent filtering for short-term swing positions.
Creation of a Watch List – While most traders maintain watch lists, the latter tend to become clogged with too many choices when markets are trending.
How do we keep our watch lists fresh and actionable in the most time-efficient manner?
Variance – Examination of the inevitable variance between the execution of a trading plan and the underlying rules is a *must* for your trading process.
Bookkeeping – as with any performance-oriented enterprise, we traders need to keep good records of how we are doing.
Many traders do not do this consistently, and many others do not track some of the most informative variables and statistics, including variance.
I’ll be presenting best practices for this foundational element of the trading process.
Post-Analysis – post-analysis of our trades is central to continuous improvement and profitability. We will cover how incorporating variance into our post-analysis process can lead to superior adjustment of our system(s).
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