Info!! Best Practices Inwards Trading: Conducting Video Reviews

One of the limitations of reviewing our trading too constructing plans based on our reviews is that our expect dorsum unremarkably is tainted yesteryear what nosotros recall too what nosotros do not.  Particularly if nosotros merchandise actively during a day, it's unlikely that nosotros volition recollect all the factors that went into practiced too hapless trades.  We may fifty-fifty forget what specifically happened during a special merchandise that mightiness receive got made it operate out or not.  Our memories are biased yesteryear our emotions, equally good equally hindsight too the factors that well-nigh stick out inwards our mind.  It is hard to effectively review our trading if nosotros can't accurately recall our trading!

The agency sports teams acquire around that, of course, is yesteryear videorecording each play too examining the video inwards special to spot best too worst practices.  Today's best practise is offered yesteryear reader Chris Britton, who video records his ain trading too uses the review to operate on his performance:

"I am a discretionary hateful solar daytime trader too I merchandise the 10 yr authorities annotation too thirty yr bond futures.  My pre-market analysis consists of identifying fundamental support/resistance levels (yesterday's value expanse high, low, vpoc, etc).  For actual trading too getting a experience for the marketplace position action, I picket the depth of marketplace position alongside back upward from a nautical chart to picket for emerging support/resistance levels.  

What I notice helpful inwards doing merchandise reviews is recording my trading session (using Camtasia or the like).  At the terminate of the day, I cutting downwards the video to the of import parts that consists of trades that I brand too trades that I missed or whatever I experience may brand an of import point.  Then I add together inwards notes on the video that cry for out interesting clues that I keyed inwards on or missed.  The finished video is anywhere from 10 to thirty minutes long depending on how many trades I make.  The fundamental points inwards the video acquaint the context of the cost action, the gild stream on the depth of marketplace position that demo why I entered (or did non enter), and, inwards some cases, why I exited when I did.

How does this assist me?  First, the recording helps me position strengths too weaknesses inwards my powerfulness to correctly read the gild flow.  From that, I receive got built a library of my ain "best setups" or "avoidable pitfalls".  For example, I tin review trades that had a successful breakout at some resistance grade too compare the gild stream from those to trades that had a failed breakout.  The fundamental chemical ingredient is spotting what the gild stream was doing that made the deviation betwixt the two.  If my skills can't explicate it, too thence at to the lowest degree I receive got the library to review inwards the time to come for when my gild stream reading skills volition live on improved.  

Second, the merchandise reviews at the terminate of the hateful solar daytime are genuinely enjoyable.  Even if a merchandise is a loser, I bask watching the video.  That is because inwards some way, I meliorate my depth of marketplace position reading skills. Before I was making recordings, I dreaded the losing merchandise reviews too trying to retrieve what I did wrong.  That opened the door for bias to creep inwards which brand learning from the mistakes harder.  With the recording, I learned that I can't escape my ain accountability inwards making errors.  

Finally, play dorsum reviews during irksome periods or on the weekends genuinely assist locomote along my heed sudden too ready me for the adjacent trading session.  I receive got constitute that land watching these reviews, the dialogue inwards my heed takes on an teacher type purpose where I endeavor to explicate the play yesteryear play action."

I especially similar Chris' observation at the end, where he notes that watching reviews places him inwards an teacher role.  That reflects the comport on of self-coaching.  When Chris watches the videos, he is similar a motorbus reviewing game celluloid alongside players.  Going to specific portions of the video, reviewing the elements of functioning inwards detail, too noting what could live on done differently adds a grade of special to review that is impossible to replicate alongside a retrospective journal.  As Chris notes, the reviews locomote enjoyable, because they are constructive--they teach--and don't merely cry for out negatives.  

If designing recognition is a business office of cognitive focus too amount of exposure to those patterns, too thence a focused, video-based review is a non bad agency to accelerate a trader's learning curve.  The trader who has watched markets during the trading session too and thence focused on patterns inwards post-market review merely has to a greater extent than learning experience per unit of measurement of fourth dimension than the trader who fails to behavior review.  The video review is a powerful tool for learning too self-coaching.

Further Reading:  Viewing too Reviewing Your Performance

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