HOW TO BECOME A BETTER TRADER

Real-time traders live from moment to moment. As such is the pull of a live date feed, it’s often a challenge to see the big picture. You will have to do this if you want to survive and proper. Trying visualizing the current trade as one of a series helps you to maintain your discipline and lower your emotional cholesterol. WOW! There is one trading tool that will really improve your performance more that anything else. It is a “traders diary”. Don’t be scared off by the sentiment that keep a diary evokes. “Dear Diary . . today I bla, bla, bla” this it is not. Your trading diary can be computer based, via a word processor, text file or use the old pen and paper version, ether way just do it. You know there is something about writing that makes it personal. The key is writing something. Don’t worry about grammar. Make notes about your trading decisions today, why, what influenced and any thoughts. If you were hesitant about your trade, say so. If you’re terrified now you’re in (the dreaded “Traders’ Remorse”) then make a note of it. When you exit, say why. Stopped out? Took profits? Why? How did you feel before the exit? How do you feel now after the exit? All this information can be priceless. Here’s why: At the end of each week when markets are closed, review to get the weeks notes. I bet that you will see a pattern in your behavior. I bet that you will see something that you are doing that is affecting your behavior. Now that you have identified the problem, the solution becomes obvious. Do this exercise weekly and also every month to get a long-term perspective. You’re the only one that can do this and no ones care more about your money and future that you! You don’t need the latest million dollar trading system to be successful in this business. Look within. I bet that you will be amazed with the results. Happy trading ☺