Observations

Can you feel the difference between a good trading day(period of time within the day) than when it is difficult and hard to develop or hold on to trades? Or does it all feel the same? What distinctions can you identify that would help shape the outcome of your trading scenarios? How do you develop conviction in yourself and your trading ideas? This are some of the type of questions and concern that a developing trader needs to ask him/herself on a daily bases

Often times when I have a losing day I try to refrain from the mindset of “I’m a bad trader” or “I don’t know what I am doing” because these thoughts do not reflect my actual trading over time and they do not help solve the problems that I am having within my trading. It is important to keep this destructive emotions at bay so you can re-focus and adjust your trading to get back on track.

One of the best ways to get back on track in your trading is self-observation. No one knows what you need to work on better than yourself (if you pay attention). Write a detailed journal not only on what you did wrong but also what you did right. Focusing on amplifying your strengths and minimizing your mistakes will help you get through the downtime in trading.

Having pin and paper handy while trading can be very useful in writing down detail and distinctive observations about your trading that might not make it in your end of day journal entries. Writing down specific actions or reason for entering, exiting or adding to trade position can help you fine tune your trade and identify obstacles in your trading that might have been missed if not immediately recorded.

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