Yes, I know this may not tell the uninitiated anything, so I will describe with an example.
It’s worth it, because it’s an excellent trading tool that works brilliantly.
A trader builds entry plans for the next period (week, month).
After that time, either alone or with someone (coach, mentor, supervisor), he sits down and analyzes what and how it worked out. Which elements were good. E.g. which analyses (own or bought) worked best and why.
What could it depend on?
Can we do something better, differently next time? Sometimes you have to do something differently because there is no benchmark (the best of the best don’t have one, they have no one to compare with, and some of their work is completely new approaches that no one but them has). The only thing you can do in such a situation is to try to do something differently and see what will happen.
If you don’t have anyone to help – just sit over the descriptions of what you intended and what came out and think about it, you’re sure to find something
But that’s not all.
The real vein of gold starts here: if you saw something, something you can change, improve – either in the analytical, technical or psychological sphere, then do what the best do:
Turn it into a concrete goal and a plan to execute for the next period.
Let’s say you’ve noticed that you’re having trouble getting in, that you’re hesitant and have a lot of resistance, or that you’re getting “too nervous” when running a position.
“You get “too nervous” when conducting a position and this occurs constantly.
What is the reason?
Am I sufficiently prepared?
Do I actually have a rational, solid basis for these inputs?
Attempt to solve:
How about addressing the consequences? What will help? Meditation? Relaxation?
Maybe there is a technical cause, additional knowledge, additional information that can help me improve the position?
And here is the vein of gold I was talking about. Action.
You may not find a solution, but… one time you will. And you will give the next step.
But if you don’t look, you won’t find anything. You will constantly have the same problems and make the same mistakes. You will have the same reasons for losses and the frustration will only grow.