Dear Trader,
"A French woman, upon seeing Picasso in a Parisian restaurant, approached the great master and insisted that he put down his coffee and make a quick sketch of her. When he was done, she took the drawing, put it in her handbag, and pulled out her billfold. "How much do I owe you?" she asked. "Five thousand dollars," Picasso replies. "Five thousand dollars? But it only took you three minutes!" she exclaimed. "No," Picasso answered. "It took me all my life."
Two points:
The first is that trading is a life long pursuit. Every day you should be getting better at it. I use five key tools to get better every day:
- A trading journal
- Pondering
- Profit Attribution Analysis
- Education
- Modeling
Over the next week, I go into detail on each one of them.
Let's start with the first one, a trading journal.
You have heard the many benefits of a trading journal so I won't repeat them here. But they all apply to trading as well.
To me, the most important aspect of a journal is that you might, maybe, be honest with yourself in your journal. Everybody, particularly traders, lie to themselves. For example, I'mconvinced that I am as good looking as Brad Pitt. Oddly nobody agrees with me.
So in your journal, you should be doing post mortems on all your trades. Brutal honesty. That is the only way you can get brutal clarity.
Have a string of losers? Losing money in a bull market? Why? Now write that down in your journal. Critical that you do this.
Tomorrow, I'll talk about another way I use a journal.
Everyday, I basically create a journal of what important is happening in the major markets and then create a strategy to make money from it. I call it the Macro Report.
This is just one of the critical reasons why you should consider signing up for the Stock Navigator. You won't find anything like it in the world!
Click here to learn more and apply now!
Good journalling,
Courtney Smith
***********************************************************************************************************
Super Cool Things To Check Out Now!
- Wall Street Winners. This weekly video newsletter was rated the #1 performing stock newsletter. Click here to learn more now!
- The ultimate investment and trading membership program in the world! The Wealthbuilder Insider has more education than any other site in the world plus live interactive group coaching! Click here to learn more now!
- Want to see all of Courtney's real trades in the real world before he makes the trade? Look over the shoulder of a pro trader. Where else can you do that? Click here to learn more and apply to join.
Post a Comment
Post a Comment