Newbies Only Part 9 by Trade Aptitude

Happy New Year! This is the final part of a multi-part process to tune up your trading plan for the coming year. If you haven’t read the prior eight posts, you can find them here. 

If you were an actor you would not only memorize and practice your script, but you would listen to and watch a recording of your performance to hone your act. Repeatedly. Practice and review. This sequence is the formula for mastery. It applies to anyone wanting to truly master their profession including traders. 

It’s critical that you practice in simulated mode before risking real money. You want to develop “muscle memory” and confidence. Your knowledge and skill using your chosen trading platform should be first-rate. Your entry and exit execution should be flawless. 

It’s even more critical that you develop a consistent review process. Think about it this way, the trade plan you just developed is your script. Your performance will vary. The only way to improve is to review your performance relative to the script. Just like the actor, musician, or athlete does. 

In trading this means you should be documenting the results of every trade setup whether you took the trade or not. Add as many data points as you like. You’ll be building a powerful research tool that will allow you to improve the edge in your strategy. 

For the trades you did enter, journal your thoughts, observations, mistakes, and ideas for improvement. Scan this journal regularly if not every trading day to remind yourself of the successes and failures. Eventually you’ll master trading, and then you’ll make it look and feel easy.

Our trading teams focus on multiple strategies for day trading futures and high-probability candidates for swing trading options. You can learn either or both risk-free. Join us.

To your trading success,

Mike Siewruk

PS: Feel free to forward this invitation to your trading buddies. Share in the wealth!