I’ve been in the lab refining my trading strategy and lost total track of time because I didn’t even realize it was Sunday! 😂
Something that has been top of mind for me, especially with my trading community, is how many traders do not have a real process around reviewing their work.
Review and Governance is one of the six pillars of my Trading Plan Guide for a reason! You need a process for review and reflection: looking at what you’ve actually done, comparing it to what you intended to do, and deciding what needs to change from there.
And speaking of losing track of time, it is September, y’all. 🤯
What was the goal you set for yourself when you were bright-eyed and bushy-tailed at the beginning of the year? Where are you in relation to it? And is it still the right goal? A few conclusions you may arrive at:
The goal is right, but you are behind. Don’t immediately lower the goal. Review why you’re behind. Is the issue that you haven't done the work you said you would do? Is your strategy/process not producing the results you expected? Are you repeating the same trading errors? Then identify the actual constraint and make that the focus for the rest of the year.
You set an outcome without building the process underneath it. A $50K or 100% return goal by itself gives you nothing to execute. Work backward: What skill needs to improve? What behavior is costing you money? What does your weekly work need to look like? What will you measure so you know you're moving toward the outcome?
The goal no longer makes sense based on what you've learned. Revise it. Maybe you thought the priority was making X amount of money, but eight months of trading showed you that the more important objective is completing your strategy, improving loss control, or building consistency. The review should change the plan when the evidence tells you the plan needs to change.
You're on track. Great. Don't manufacture a problem. Identify what is working and keep doing it. What needs to remain true for you to finish the year where you want to finish?
Reviewing your work is non-negotiable.
If not, another trading day turns into another trading week, and suddenly another month is gone. But you cannot improve what you don't document and review.
Block out two hours max to review where you are and make a plan. Be honest about where you are, go back to your annual goal, look at what your results and your work have actually shown you, and build practical steps to move forward from here.
Then get to work!
Do not procrastinate further by spending the next week making a plan for how you’re going to start. Figure out what needs to be done and get back to work.
And if you have some things you want to ask about, I’m hosting a free AMA this Tuesday, September 8 at 7 PM ET. Join The Trader Reset Community for access and bring your questions!
Resources and how to work with me:
SPX Review and Outlook
Last week, SPX rotated all the way back through the lower part of the range. On Tuesday, price flushed slightly below the 7,630 area and reached 7,611 before buyers stepped back in. By Wednesday, we were already pressing higher again, and the move continued through Thursday before pulling back on Friday.
Coming into this week, the structure still favors another push higher. Friday’s pullback brought price back toward the top of the hourly range around 7,700, and as long as that area continues to hold, 7,774 is the next area I’d expect price to test.
SPX Daily Chart
SPX Hourly Chart
Levels for the Week Ahead
7,700: Friday pulled back toward the top of the prior hourly range and held around this area. Continued holding here supports another push toward 7,774.
7,774: We have multiple daily reactions around this area. A break and hold above it would put price back near the all-time high around 7,816.
7,816: If price reaches the all-time high, I’ll be watching the reaction there. We could continue into new highs and/or stall and come back toward 7,774 for a retest.
7,640–7,630: Falling back below 7,700 would put price back inside the range. From there, I’d watch whether buyers step back in around the lower end or selling continues.
7,614: This is where Tuesday’s flush found buyers last week. If price loses 7,640–7,630 and continues lower, 7,614 is the next area below.
Overall, I’m still leaning toward another push higher as long as SPX continues to hold above 7,700. If that changes, I’ll shift my focus back to how price behaves inside the range rather than anticipating continuation.
