The Master Sheet
With markets being in flux, oneself being an entity that changes and ones surroundings changing as well it is prudent to have a core cheat sheet,
a reminder,
a focus list,
a single page where one finds ones trading approach summarized in a way that you remember what you are doing day in and day out.
I have practiced this regimen for over 20 years and it suits me very well.
In trading if you just change one nuance like an indicator or stepping up a tie frame when a lower time frame has a period of fast chop, or any other introduction of change by introducing a new tool or a new way looking at markets simply any kind of change you might find yourself a few weeks out that you have completely forgotten your previous routines.
It is like a cheat sheet of finding your way back when making a side step.
Traders typically say they do not want to go on vacation to not lose the contact to the market but in my humble opinion it is this awakening after a two weeks vacation stretch that trading eludes you having forgotten all the details of your systematic approach.
In addition we are also suffering constantly under the blue car syndrome, meaning there is always a favorite subject we are focusing on in unrelated weight to that subjects importance so a top down approach cheat sheet is essential to keep us nimble in a rounded balance to follow procedure accurately.
last but not least if you print this master sheet out once a week since it itself also changes throughout time and your system progressions, one has a clear track on how one got from A to B which is a very essential road map if one finds oneself after yet another year of development in a dead end street and needs to retrace ones steps.
I find more than a single page overwhelming and as such have various sheets for various subjects like psychology, TA, money management, execution sequencing, Time prisms, business plan, system development, ...
here an example:
Technical Analysis Sequence
Monthly Chart: Main Support/Resistance
Main Trend Lines
20-40-200 M.A.
{Fibonacci}
Weekly Chart: Main Support/Resistance
Main Trend Lines
20-40-200 M.A.
{Fibonacci}
{Hit O. Tree & erase everything that’s unnecessary}
{M-W only open 7-8 PM; Closed all other times}
{D-60-15-open all the time.}
{One set for Analysis/one set for Execution}
{Analysis Set = Market Profile + Everything Else}
{Execution Set = Minimum Template = 20/40/200 M.A./CCI/VWAP/Volume
{D-60-15-5 = always update trend lines/S&R Lines/Price Patterns/…}
Update = Add + Remove {No Copy/Paste}
HW: Symbol List Update
· If exploring a new tool, import in Analysis Set first = no Blue Car syndrome in execution charts.
· All Execution Charts in auto.
· “One can only perceive risk but not expectancy.”
· “Filling up holes in the roulette wheel only leaves one hole for the ball to go.” {procedure vs. prediction}
On the menu for next week: Practical Application of tools we sharpened today.
HW: Make workspaces PS.:
traders often have notes around their computers like
spiritual generalizations
"do not run stops"
"I forgive myself"
"stay calm"
and things alike
typically general statements like this make it easier to violate rules
at best in the heat of battle they rather confuse than support
what I am trying to say is notes like these should be very precise rules and instructions supporting stressful trading decision in the heat of the battle but moreover are rarely read in stressful situations
the printed out sheet yet if scheduled when to read in specific time intervals can be very useful to condition appropriate trading responses and be a very useful tool to introduce new techniques that need to be integrated or get rid of unwanted behavior from the past
