So when I was asked to Pb a counseling see at my adjacent institution, I laid a policy of no waiting lists. In guild to attain that, I engaged inwards exhaustive enquiry concerning the types of clients who almost could create goodness from short-term intervention; those that were almost probable to create goodness from medication; those that were almost probable to require longer-term therapy; etc. I also scoured the enquiry literature for criteria to create upward one's take away heed approaches to counseling almost probable to create goodness item people too problems, drawing upon evidence-based guidelines.
Each research-based finding led to a best practice. For instance, I learned that outcomes were best for people alongside sure as shooting kinds of depression if structured cognitive-behavioral therapy was combined alongside anti-depressant medication. The combination of many best practices led to a best process: past times routing people to the correct kinds of assistance that were almost probable to live on successful, outcomes were improved too waiting lists evaporated. Therapy became to a greater extent than efficient equally good equally to a greater extent than effective ane time an evidence-based triage procedure was established.
The previous post reached out to readers to inquire for their best practices: actions that bring been almost reliably associated alongside successful trading. These, too, should live on evidence-based. That agency that y'all are actively tracking what you're doing inwards markets too how you're doing it too seeing what industrial plant too what does not. It also agency that you're tracking yourself too the personal factors that work organization human relationship for your skilful too bad trading. For example, I bring consistently found that placing trades solely when backtested relationships are providing electrical flow signals increases my hitting charge per unit of measurement too my profitability. Starting my trading twenty-four hours past times investigating those relationships is a best practice.
When nosotros string together a let on of best practices, nosotros acquire inwards at best processes. My best procedure for marketplace training includes starting the twenty-four hours alongside exercise; eating lightly; updating markets for those backtested relationships; planning criteria for entries too exits; too writing downwardly my game excogitation for the trading session. I bring learned that each of these best practices is associated alongside my best trading. Combining them into a procedure creates a training routine: I am turning best practices into ongoing piece of work habits.
The argue my novel book stresses the creation of best processes from best practices is that the one-time trading psychology--the ane that links trading success to "discipline"--is woefully limited. When nosotros established the novel triage organization at the counseling center, no ane had to piece of work on their bailiwick to bear the correct kinds of assessments for novel clients. Those assessments became constituent of an ongoing process: they developed into routines. The challenge for traders is non to motivate behaviors only to automate them. First y'all report yourself too larn your best practices; too hence y'all uncovering ways to gather those best practices into a replicable workflow.
Thanks to readers who already bring submitted their best practices. I specially encourage those involved inwards mentoring traders to share their best practices. By creating a database of best practices, nosotros tin generate the edifice blocks for best processes too lay the foundation for to a greater extent than consistent trading performance.
Further Reading: Four Pillars of Trading Process
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