Objectives - January 2011 - Review

In this post I will review my performance from the past month, determining what was accomplished, what was not accomplished and why. Below is a summary of the objectives I set for myself during the month of January:

• Document daily study activities on blog (pages read, blogs read, trades, tasks, etc.)
• Archive important news and blog posts in searchable database as needed
• Read trading blog posts daily Finish StockFinder layout for market breadth report
• Archive blog posts daily
• Monitor intraday performance of SPY and IWM daily
• Update market breadth indicators spreadsheet daily
• Update Market Report daily
• Simulate trades for mean reversion trading strategy daily
• Update resume
• Update cover letter
• Update LinkedIn account information
• Determine top ten trading prop firms to submit resume
• Setup detailed trading plan for trading breakouts including entry criteria, exit strategies, and risk management
• Create post summarizing goals for 2011
• Create spreadsheet of trading network and contacts
• Develop budget for living off savings during new trading career
• Post 1 Lessons Learned per week

The items in green are the objectives that I completed during the month. The items in yellow are objectives that were partially completed during the month. The items in red are objectives that were not completed during the month. Below is the list of items that I accomplished in January:

• Read 1482 trading blog posts
• Archived 96 blog posts in email
• Posted Market Breadth Report to track sector behavior on 20 days
• Updated market breadth indicators spreadsheet on 20 days
• Monitored intraday SPY and IWM activity for 20 days
• Recorded simulated trades in journal on 17 days
• Worked out on 20 days 
• Created About Me page on blog

I completed most of my objectives for the month.   I spent most of the month focusing on my job search and getting my mean reversion trading strategy up and running using Interactive Broker's trading simulator.  While I did not create a top ten list for firms I want to apply to, I did complete my list of links for Chicago trading firms.  During February, I will go through the list and narrow it down to 10 firms that I will begin researching for employment.  I also was unable to complete my trading plan for my swing trading breakout strategy.  I have a draft version ready, but I spent most of this month developing my trading plan for my mean reversion day trading strategy.  I will post the trading plan for the breakout strategy during February.

I added and About Me page to the blog.  This post is a brief walk through of my blog and includes posts that describe me and my trading activities.  It will help anyone interested in my web site learn more about me and what I am trying to accomplish.

I made significant progress on my day trading mean reversion strategy.  I have began trading it and using the IB trading simulator has helped me improve my entry and exit methods.  I have also been studying ways to improve the risk management for the system.  Currently, I am looking for ways to speed up my order entry process and make it more efficient.  I was able to post my mean reversion trading plan on the About Me page.  Documenting the trading plan will help me refine the methods I am using.  It also helps me break down the strategy into specific components, which I can research and improve in the future.

There were a few items that I did not complete during January.  I have begun writing Lessons Learned post again and I plan on those posts becoming a regular part of this blog.  The other items were not completed because I felt that other objectives were a higher priority.

I was able to consistently maintain my trading routine this past month.  I was also able to work out during most days, even though it is sometimes difficult in the dead of winter with my additional responsibilities.