Posts tagged with ‘deep practice’

“The first effective feedback system is measurement. The things we measure are the things we improve. This holds true for the number of pages we read, the number of pushups we do, the number of sales calls we make, and any other task that is important to us. It is only through measurement that we have any proof of whether we are getting better or worse.”

I’m a firm believer that if you want to improve something, start by measuring it. For traders this means journaling. Record each of your trades BEFORE you enter. Screenshot both the timeframe of the trade and high timeframes. Explain why you are entering the trade – list the pros and cons. Note your mental state. Then when the trade is complete add a screenshot of the finished trade. Note your win or loss amount. Note the maximum run up of the trader before you exited. A journal like this allows you to track your trades, measure your successes and your challenges, and begin to identify patterns to your trading style.