What Traders do during the Weekend?

By Brandon Leu, CMT

Weekend is a great time to relax, exercise and clear your mind from the markets, keeping yourself fresh for the new week ahead. However, do make some time for some "backend" activities to grow as a trader. Here is a short list of them.

Prepare for the week ahead

Read up on major events or news that shaped the market the previous week. And watch for major events in the upcoming week. This reduces surprises or allow the trader to have an understanding of the current macro environemnt. And of course, analyse the charts for the week ahead and probable trade set-up.

What's Important: Preparation and planning takes up 80% of a trader's time. Traders trade their plans. Traders do not trade on hunch or tips.

Strategy and Trades Review

Review your trades, check if you have traded according to your plans or if any part of your planning or trading process can be further improved. Also review your trading method/strategy for further improvement, e.g. entry trigger, position sizing or methodology's performance.

What's Important: Trading is a business and it is dynamic, you'll need to makes changes and re-focus if necessary.

Education

Do read or revisit Technical Analysis and trading related topics. There are free materials on the web, libraries or book stores to gain extra knowledge. Your knowledge and experience will compound as you improve regularly.

What's Important: It's not how much you read or absorb each time that matters but the consistent effort of reading on the regular basis. Regular effort helps upkeep and upgrade your knowledge like a regular car maintenance or upgrade. Regular reading routine especially helps a trader to maintain his/her focus and discipline.

Wishing all readers a wonderful week ahead.

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