Through the journey of becoming a profitable trade you will find many words or phrases which try to provide you with the all in one solution to your problems. Over the course of the last few months I have realised that you need to understand we are all different, and we will all view the markets in different ways. During this week of many losing trade it had be thinking:
What made me profitable over the last 4 weeks?
Was it the trading diary that I took the time to update every day, The review of all trades at the end of the week. Those little details helped but I would only say they are apart of the bigger picture. Yes! I don’t believe my trading had improved from JUST the journals or the reviewing of trades.
Because I am not always driven to journal my trades or even review the trades for the week. SHOCKER! Yes i said it, sometime I don’t feel in my trading journey or review my trades. SO how does one improve there trading if they are not reviewing there trades using a journal?
YOU HOLD YOURSELF ACCOUNTABLE FIRST!!
In everyone’s journey in life we must all hold ourselfs accountable for the decisions we make. If I have a losing week I have to hold myself accountable for the decision that were made. There are many ways that you can do this, but I believe these are the 3 best ways.
Be ONE with you trading Balance
A lot of people hate the draw down and are absorbed by the negative balance. DO NOT let a negative balance distract you from the positives, as it just meas you need to hold yourself accountable to understanding what you want from the market. Either way mistakes or failures are really LESSONS. Being in an industry that can teach you something new every day is amazing. Just remember to keep it simple.
Laugh and then Laugh some more
It is not easy being accountable especially when you might not have someone around to support you. I say stop and laugh a little 😁 No I have not lost my mind, but what you need to understand is that laughing or finding something that makes you life will show you that life is still joyful. This will put you in the right mindset to be serious again and review or improve your trading without it feeling like it is a huge chore.
For traders who do not have mentors I would recommend going on to Tradingview and posting your trades or analysis. No one on there will judge you for your trade, and you will learn that the market is very much 50/50 split all the time. What this really helps you do is provide conviction into what you are doing.
Would you take a trade if you do not feel comfortable providing it to someone else?
Could you explain the reason in a very simple sentence or two? No paragraphs allowed.
From me the 3 accountability tools used together help me improve my trading. Seeing my balance going down drove me to be accountable for what I did and improve. Laughing helped me continue to come back to the charts every day even when I was not improving, and Tradingview made me understand that my trades needed to be simple because I did not want to spend 30 mins writing an analysis on one market.
Do yourself a favour and just be happy you have decided to be on the journey. The money will eventually come but for now…..Live and Learn.