4 Steps To Improve Your Trading Performance
You've probably experienced this
A negative trading performance. A spiral of bad trading decisions. A strategy that is not performing as expected.
A helpful practice to overcome these situations is to focus on having a better process. Because results are a consequence of actions, and negative actions lead to negative results.
So here's a framework to create a better process:
1. Map out the series of steps and activities that led to the negative result (Start from the very beginning)
2. Build a Dataset of all the times that the process was implemented and led to a negative result.
3. Troubleshoot and identify the possible drivers of the negative result
4. Map out a new process that's focused on eliminating and improving those negative drivers.
This can be a trial and error process and it can be an extensive process. Sometimes even frustrating. But it'll be insightful and helpful.
If something is not working and you try to solve it randomly, you might feel overwhelmed. If you have a clear process and set of steps to solve it, it is easier to push forward.
Why is it easier?
Because you have a specific target to hit and a map to follow.
A negative trading performance. A spiral of bad trading decisions. A strategy that is not performing as expected.
A helpful practice to overcome these situations is to focus on having a better process. Because results are a consequence of actions, and negative actions lead to negative results.
So here's a framework to create a better process:
1. Map out the series of steps and activities that led to the negative result (Start from the very beginning)
2. Build a Dataset of all the times that the process was implemented and led to a negative result.
3. Troubleshoot and identify the possible drivers of the negative result
4. Map out a new process that's focused on eliminating and improving those negative drivers.
This can be a trial and error process and it can be an extensive process. Sometimes even frustrating. But it'll be insightful and helpful.
If something is not working and you try to solve it randomly, you might feel overwhelmed. If you have a clear process and set of steps to solve it, it is easier to push forward.
Why is it easier?
Because you have a specific target to hit and a map to follow.