When I operate alongside traders live, every bit they're trading, I typically inquire a release of questions:
* What's your thinking behind that trade?
* Where would you lot accept profits on the trade?
* What's your stop-loss here? What would order you lot the merchandise is wrong?
* Where mightiness you lot squall back of adding to the trade?
I'm non looking for whatsoever specific answers, every bit I'm non trying to encourage the trader to merchandise inwards whatsoever predetermined way. Rather, my questions are designed to brand the trader utter his or her thinking behind the trade. They are intended to promote mindfulness.
Many times, the trader won't get got a proficient reply to 1 of my questions. That enables us to squall back the consequence through on the spot. In seahorse terms, I snuff it the trader's minute eye.
The persuasion is that, alongside plenty practice, traders laid about to internalize those questions for themselves. They no longer necessitate me to prod reflection: mindfulness becomes second-nature.
Good traders, I believe, squall back close markets earlier they house their trades. Great traders do that--and they squall back close their thinking. This makes their trading to a greater extent than intentional, to a greater extent than controlled, together with ultimately to a greater extent than rule-governed.
One of the peachy values of keeping good or written journals together with notes during trading--as good every bit earlier together with after--is that they serve the same utilisation every bit a real-time coach: they prod you lot to brand your thinking explicit together with snuff it to a greater extent than aware of your actions together with the reasons behind them.
More on posing questions to oneself in this post together with this one.
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