r e l a t i v e // strength begins
So I'm going to experiment with this method of retaining a trading history. It may not be the most effective method, but it's worth a shot. I currently log all trades in a workbook that I designed. It allows me to monitor my daily trades, make comments, and assess the risk of other potential trades. I outline my entry and exit strategies as well as my risk tolerance. I doubt that I'll be posting any charts here, but I suppose that depends on the functionality of this blog. I'm hopeful that some of my trading partners will take time to post comments here that will make us all more thoughtful traders.The primary purpose of this online effort is to keep a track record of my trade sentiment. I've noticed that I'm less likely to make emotionally charged trading decisions when I take the time to articulate thoughts into written words. The required pause allows for a more thoroughly developed plan. Also, having a log of one's activity provides at least some semblance of accountability. In reviewing my track record over the past few months, I can honestly say that I've avoided making the same mistake a number of times because I've used the "history is a good predictor of the future" principle to talk myself out of a questionable trade.
One point that I'm often reminded of is that no matter how exciting or potentially profitable a trade is at any given time, there is always another market that will come along and offer just as much opportunity to a trader. Sometimes standing on the sidelines for a while to wait for that opportunity is the best "trading" a person can do.
posted by jared @ 2:06 PM
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