There Is No Such Thing As Perfection
If you’ve read some of my blog posts, you already know that approaching failure is something that’s really important to me. Ultimate success has nothing to do with perfection. In fact, there is no such thing as perfection. Unless you have a time machine, there is no way to get 100% accuracy at trading.
That’s why I always predicate to intensively comprehend and apply the risk management best practices taught in the WarriorPro courses because this will keep your trading career in play for as much time as it takes to get on top of the learning curve. Meanwhile, let’s get educated and put it into the work every day, unceasingly.
Being the best at trading is exactly like mastering anything else. It is a never-ending refinement process to take advantage from the opportunities the market is willing to give you. Do not worry if you have lost one of those today, because the market will be here tomorrow again and willing to provide you more.
Today, let’s be focused on what happened by analyzing your trades to better discover what’s the “behind the scene”. So, whether it’s by taking screenshots or recording entire live trading sessions, it doesn’t really matter. What counts is spending enough time post-processing the whole set of operations done on each trading day.
These five questions are much better than P&L
Please, do yourself a favor, when judging your trading results do not rely too much on the P&L value from the brokerage account. Whether is green or red, it doesn’t give you the broader picture. In order to help you inspecting every trade, just honestly answer to those simple five questions instead:
- Did I see a clear “A quality” setup?
- Was my entry point the most promising one?
- Was my stop clearly defined before entering the trade?
- Did I have a definite plan in my mind in regards to the profit targets?
- Did I execute the trade according to the plan?
In case you’ve answered “yes” to all those questions after each trade, there is nothing further needed. Whatever the P&L is, you acted right and it’s time to move on. But, if the answer to at least one of these questions is “no”, that’s a great news because there is room for improvement. Despite what the P&L looks like, there is much further to go.
“Perfection is not attainable, but if we chase perfection we can catch excellence.” -Vince Lombardi
See you in chat-room!