There’s a big trading trait that’s not spoken about enough… That will decide whether you succeed in 6 months or NEVER make it
And that is: Self Awareness
Most traders live in denial of their weaknesses.
They make a big mistake, lose a bunch of money, get angry, push it to the back of their mind and then dive back into the same bad habit the next day.
Does that sound familiar?
When you live in this phase of denial & try to bury all your problems you end up repeating the mistake over and over again… Until it becomes so engrained in your mind that it’s near impossible to kick.
That lack of self awareness & accountability will keep you losing until the end of time.
If instead you faced your problems head on when you make big mistakes and immediately worked on getting rid of the root cause, you’d make HUGE strides towards your success. Bad habits wouldn’t have a chance to set in. Your problems would be rid of almost immediately.
So here’s what you need to do to become a more self aware trader:
1) Journal every trade you take
Every time you exit a trade screenshot it & save it with some notes on why you took the position, and what went right or wrong. In doing this you’ll create an archive of past performance with notes on the good & bad things you did.
You’ll become aware of the patterns in your work & you’ll start to really get in tune with what makes you win and what makes you lose. Journaling is the fastest way to build self-awareness.
2) Backtest the past week, every week.
Every Friday night or Saturday morning backtest the past week following your rules exactly as you should when trading live. Often times you’ll find that your optimal system application (in your backtest) looks totally different to what you did in real-time.
Why? Because you’re so focused on short term profits that you’re not following your strategy in your live trading. This is going to present you with what you SHOULD be doing vs what you’re ACTUALLY doing ~ and bring awareness to the mistakes you’re making.
Now you can use this information to work your way closer to optimal trading when you’re working with real money
Put these tips into action & I guarantee you’ll start to see major improvement
This may be what you need to make a ‘breakthrough’ in your work.
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