{"id":4525,"date":"2017-02-02T15:44:01","date_gmt":"2017-02-02T20:44:01","guid":{"rendered":"https:\/\/www.optimusfutures.com\/tradeblog\/?p=4525"},"modified":"2017-02-02T15:44:01","modified_gmt":"2017-02-02T20:44:01","slug":"end-trading-day","status":"publish","type":"post","link":"https:\/\/optimusfutures.com\/blog\/end-trading-day\/","title":{"rendered":"Follow this 7 Step Process to Effectively End Your Trading Day"},"content":{"rendered":"

\"trading<\/a><\/p>\n

How do you end your trading day?Do you just close your trading platform and then move on to other things in your life? The following seven 7 tips can potentially help you create a better trading routine and develop the discipline to be prepared for the next trading session.<\/p>\n

Step 1: Keep an end-of-day trading checklist
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Look back at all your trades and analyze how you approached them. It is important to avoid hindsight bias here and focus on objective criteria like trade entry, breaking vs. following rules,\u00a0 FOMO<\/a> <\/span>vs. proper execution and so on. Keep this exercise as short as possible without overwhelming yourself. We recommend taking screenshots. Collecting screenshots of your trades over time can often be an excellent introduction to record-keeping. Used in combination with a checklist, a trader can improve the review process significantly. Annotate your screenshots and look for commonalities and recurring patterns in your trading.<\/p>\n

Step 2: Identify Tomorrow’s Levels<\/h2>\n

Rather than reacting to market conditions with impulsive actions, try to identify significant levels ahead of time and devise a plan on how to trade them if they hit. Once you identify the critical levels, you should neglect all the price action for that day and stick to your initial analysis. This develops patience and can potentially help you avoid over trading. You should consider looking for significant support and resistance levels where prices are rejected. You may find that regardless of the method you use, the support and resistance levels give you additional “color” on how price behaves around the same levels over and over until broken.<\/p>\n

Step 3: Check for News That Move Markets<\/h2>\n

There are news releases every day, and some are more significant than others. For example, the FMOC meetings may be significant these days because of the concern over rising interest rates. We have not been a rising interest environment for quite some time, so Treasury Futures traders or E-mini S&P <\/a><\/span>traders should watch out for news release times and possibly even avoid trading during those time frames so the market can digest the news and\/or lack of it. While support and resistance may depict a graphical representation, they represent supply and demand for any given financial instrument.<\/p>\n

Step 4: Order Placing Management\u00a0<\/strong><\/h2>\n

Most traders put too much emphasis on trade entries and neglect the importance of everything else that comes along with a trade. In order to get a better understanding of how you place orders and manage trades consider applying the following analysis to your trades:<\/p>\n