I recently sat down and made a list of all my trading faults. If you have a capacity for honest self assessment you will know what they are. I then created a goal for each of the things on my list which was its opposite.
So for me consistent journal writing and record keeping I knew was not that great. I have bursts of it, then either have no time or get bored – and I also think that accurate journal writing is fuel for the rocket of personal development so I MUST do that. I worked out that half the problem was not having a consistent format that I was happy with so I think I’ve fixed that.
There were a few other things, but that was the process. Create a list of your known issues and reverse them, and focus more on those goals than anything else.
Archives of “self assessment” tag
rssSelf-Assessment
* How many of your trades today (or this week) had an explicitly defined risk and reward?
* How many of your trades today (or this week) did you execute according to the defined risk and reward?
* How many of your trades today (or this week) were based upon clear market patterns and a clear identification of how the market was trading?
* How many of your trades today (or this week) were placed out of fear of missing a move? Out of frustration following a loss? Out of boredom in a slow market?
* How many of your trades today (or this week) would you place again if you had the same circumstances?
* How many of your trades today (or this week) came from advance planning and preparation?
* How many of your trades today (or this week) were sized properly, given your level of confidence in your ideas and your desired risk management?
* What did you learn today (or this week), and how will you put that learning to work tomorrow (or next week)?
* How did you feel about your trading at the end of the day (or week)? Proud? Disgusted? Regretful? Satisfied?
* What can you do tomorrow (or next week) to feel proud of and satisfied with your trading?