Info!! Solving Your Trading Problems Yesteryear Finding Your Trading Solutions

In a recent weblog for Forbes, I described the essence of a solution-focused approach to trading:  studying your ain successes.  As da Vinci's quote suggests, it's non exactly dry, academic study, but report alongside desire:  the wish to know what makes yous the best yous tin post away be.

Here's an interesting observation:  

When I enquire traders to tell me what they do incorrect inward their trading to brand them lose money, most tin post away cite a diversity of mistakes they make.  They verbalise almost chasing trades together with getting inward at bad levels; they depict sizing positions likewise large or small; etc.  When I enquire traders to tell me what they do best inward their trading that leads them to brand money, most offering vague generalizations or simply state that they don't brand the losing mistakes.

Even to a greater extent than to the point, if I enquire most traders to map out a detailed catamenia nautical chart of their best trading, starting alongside the gathering of data together with generation of ideas to the structuring of trades, management of risk, together with the trader's ain self-management, inward the vast bulk of cases it would last a hard task.  The effect would last a lean catamenia chart. 

Now imagine that I hand that same exercise to an executive at a successful company.  You tin post away residuum assured that at that topographic point would last no occupation generating a catamenia nautical chart describing how raw materials are assembled into a product; how the production is packaged together with delivered; how the production is marketed; how sales are tracked; how production changes are made; etc.  

The idiot trader has no feel of process.  It's all topographic point of the pants together with randomness.  The enlightened idiot trader talks almost "following my process", but cannot arrive at a detailed catamenia nautical chart of what they do together with why they do it.  That is because, for the enlightened idiot, procedure is only a code discussion for engaging inward exactly about full general routines.

Successful businesses don't "follow their process."  Successful businesses empathise that they take away hold many interlocking processes, together with their lineament management tracks both those processes together with their successful coordination.  

An of import question:  If yous started a describe of piece of work organization inward your community together with managed it alongside the same rigor every bit yous apply to your trading, how successful would that describe of piece of work organization be?   

Consider the proficient baseball game pitcher watching game films.  He volition focus on the mechanics of each stage of his delivery.  He volition report his pitch alternative together with the execution of each form of pitch.  He volition examine his pitching accuracy together with the factors responsible for achieving goodness together with hapless location.  He volition report the best agency of pitching to specific batters together with exploiting their weaknesses together with avoiding their strengths.  That is report alongside desire:  the wish to dig together with dig together with dig together with empathise the drivers of superlative performance.

The idiot trader keeps no mag together with has no construction to his or her reflection.  The enlightened idiot trader keeps a mag together with writes downwards all of his or her mistakes together with frustrations, but never transforms those observations into concrete goals, plans, together with commitments for change.  An proficient describe of piece of work organization knows its best practices, turns those into robust processes, together with tracks them religiously.  

As the Forbes article emphasizes, an exclusive focus on what yous do incorrect will, over time, assistance yous internalize the identity of a wrongdoer.  In studying your successes together with turning those into solutions that anchor best practices, yous reinforce an inner feel of achievement.  There are no lifetime accomplishments that do non start out alongside daily achievements.  Many, many times the answers to our trading problems prevarication inward what we're doing when those problems are non occurring.  The start pace inward becoming a improve trader is agreement how nosotros currently merchandise when nosotros merchandise at our best.

Further Reading:  Solution-Focused Performance
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