You are journaling your trades wrong. – GetGood #TA
It’s your fucking boi, TraderTyler here.
Notorious for “No time to waste, straight to the point articles.”
Listen up.
Often I see the same advice be given…
“Analyze your failures in-depth in order to never repeat the same mistakes again.” — Common advice
A year ago this seemed like good advice to me, I used it ruthlessly.
My journal is one of the most in depth journals you’ll find in the trading communities. From all the journals, screenshots, testing, losing, profiting, missed trades, strategies, theories I wrote about the markets… testing again..
I penetrated through the plateau of mastery roughly 12 times in the past 3 years. With many breakthroughs throughout my journey.
At one point or another I paused with posting daily as the esoteric knowledge I’ve come across was too valuable to be shared recklessly with the world.
Heed now my advice about journaling, for you will surely fail in your endeavour
Find this article informational/useful? This is just the tip of the iceberg..
LEARN MORE → https://t.me/getgoodta
For the short-term, journaling your failures seems like a good idea.
The reason it fails though is because at one point it becomes a habit for you to focus on failures.
This means that although the positive is that you develop a consciousness for noticing failures, your entire reticular activation system starts looking for failure EVERYWHERE.This is horrible as your mindset starts focusing on failure too.
You become a frightened trader, your thoughts are filled with failed trades and failure fills your mind.
Thoughts -> Words -> Actions -> Habits -> Character -> Destiny
Why the fuck do you think what’s the reason for 96% of traders losing money every day?
Instead of focusing on avoiding failure, focus on ATTRACTING SUCCESS.
Trading is getting paid to wait, successful trades LITERALLY FALL INTO YOUR LAP.
The difference between a loser and a hero.
When I traded EURUSD for 4 months during winter into spring.. I noticed my win rate was a shit 16–20%.
Any other average person without a successful mindset would be CRIPPLED and lose money.
In those 4 months I made a 350% return on my portfolio, why?
Because I did not journal my fails, I didn’t give a shit about a losing trade. It is impossible for it to phase me.
All I did was journal success, celebrate success and live for success every single day. I knew my strat worked, it had an average RR of 20 and I had on average one or two opportunities every week.
Failure? Boom, forgotten. All I did was WAIT.
And success came.
Would you focus on a minute of hate during an entire day filled with love?
Just like any trading strategy, it is best used in a certain situation and never anywhere else.
If you are forced to… Analyze your failures ONLY when a unique failure is encountered, and do so with a mindset that focuses on success.
20% of your journaling should be an analysis of mistakes and with which successful act should they be replaced.
80% of your journaling should be a celebration of success and how to mantain it.The result of this journaling, what to replace and what to mantain, will result in progress.
Use this template.
Trade management notes: Focus on the WHY behind your actions
Emotions I felt while taking the trade: Before, during and after…
Feedback/notes to self: Remember the emotional states behind your WHY’s
This is different from any other journaling out there, why?
Because it focuses on changing your mindset and mastering your emotional discipline.Mastering this automatically improves your strategy.
No matter how much we force logic into our trading, it only flourishes through mastering our emotional side.
No matter how many people try to approach trading with logic and mechanical trading, with rule-sets and shit… it will never work if you’re emotionally retarded.
It’s all in the mindset.
It’s all in the fucking mindset.
Published at Sun, 01 Sep 2019 15:35:28 +0000
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By trendingtopics on 2019-03-17 21:09:10