As professional traders most of the hard work is done when the market is closed. We go over our trades, review them in detail and find the spots where we can improve,or where we might have gone wrong. Goal is to improve on your strengths and cut our mistakes. Over time as you eliminate your mistakes and build on your strength, you develop and hone your Edge and trading is ALL about the Edge.
Things to keep in mind:-
- What did i do wrong ?
- What did i do right ?
- Can i replicate my winners ?
- What can i do to find the winning patterns again ?
- What can i do to eliminate my mistakes ?
- How can i avoid my mistakes again ?
- Did i follow my plan ?
- What can i do to ensure i follow my plan ?
- Emotions and psychology check
- and more….
Remember Trading is ALL about finding and Executing YOUR EDGE
Most traders keep analyzing and looking for that perfect entry point and that perfect time. Guess what ?
There is NO Perfect time to buy or sell. You have your strategies and the strategies have their statistics and probabilities. Stop doubting yourself and your strategies, Take the trade and let it play out. Getting in before the others figure it out is key to trading and when the others have figured it out, Let them push the stock for us, or when they chase, You can sell it to them.
The Anticipation is what separates the LiveTraders community from the Other Chatrooms.That is the reason we have a whole chapter on Anticipation in our PTS Course
