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October 29th, 2006 
Jason I recently updated my ScalpRate Spreadsheet to output PnL Distributions based on Time of Day and # Converging Factors. Here are my results for this past week:
I made progress on all fronts this past week. I decreased the # of 1-Factor trades from 30% down to 22%, Turned my 2-Factor trades from an average loss of $30/trade to an average gain of $30/trade , and increased my 3+Factor trades from 30% to 42% with Avg PnL from +$58/trade to +$67/trade.
Concerning the Time Distribution table. During the month of October overall, I only have 2 time periods where I have consistently shown a profit, but last week I showed a vast improvement accross all time-periods showing a loss in only 2 of them.
Based on last week’s results, this week I need to focus on:
1.) Continuing to Reduce the # of 1-Factor trades that I make (with the eventual goal of eliminating them all together)
2.) Continue to reduce my lot size & become more selective with the trades that I make prior to 10:00am
3.) Become more vigilant with the types of setups I am taking after 2:15pm and reduce my lot size & risk exposure until i am able to get those numbers consistently positive
4.) Do exactly what I did last week on all other fronts, as it was one of my best weeks ever!
Posted in 
Hi Jason, (This is a repost to get it in the right place) This is my first message to a blogger. I have been watching several day traders for the last 2-3 weeks. I trade futures and I am about where you are at in my time in trading, and learning curve. Your post on the 23rd, on your analysis of your last years trading activity is excellent, and it has helped me to zero in on some of my own problems. From today’s post it looks like its going to be a real boon to you. Stay disciplined and follow your new plan, and I am going to try to do the same thing. Thanks much for all the work you have put in. Regards Richard. Repost PS. I also downloaded the eBook on mental Fitness for Traders. A very good read, and right on the money.
Robert,
Thank you for your comments. I’m glad you found the eBook as useful as I and that you were able to glean some benefit from my posting of the analysis process that I’ve gone through. I know I still have a long ways to go, but I feel like I have had much better footing ever since those little epiphanies.