Info!! What Makes A Trader A Meridian Performer

What turns whatever action into a altitude surgery action is keeping score--and too then using the scores to operate on improvement.  Once you lot set about to runway how good you're doing, you lot accept a baseline of success from which you lot tin flaming guess farther growth.  Keeping score likewise keeps a trader accountable to themselves:  are you lot actually improving over time?  

What prompted this topic was a see to The Night Owl Trader site.  Two things jumped out at me when I looked over recent entries.  The kickoff was that the writer is attempting to telephone phone marketplace management for the side past times side day.  The most recent forecast was "uncertain".  I dear that.  Having created too recreated to a greater extent than regression forecasts of markets than I assist to count, I know that sometimes the output says, "uncertain".  That is non every bit appealing to about every bit making a table-pounding, high-conviction bullish or bearish call, simply it is intellectually honest.  Sometimes the evidence is balanced, too sometimes in that location isn't a distinctive directional edge.

The instant affair that I liked was using the daily forecasts to popular off along score:  how frequently the writer was correct too incorrect on marketplace direction.  Keeping score publicly tin flaming hold out a specially potent shape of accountability.  Over time, it tin flaming Pb to useful reviews:  what were the highest batting average periods?  The lowest ones?  What types of markets were most forecastable too which were least?  How could the forecasts meliorate for the to the lowest degree predictable markets?

A spell dorsum a trader contacted me nearly working together.  He didn't movement to convince me of his passion for trading or his grand insights.  Rather, he sent his multi-year runway record, surgery statistics, too a real good set out description of his trading methodology.  The message he sent was, inwards essence, "Here's what I do; here's how good I produce it; I desire to popular off to the side past times side level."  His runway tape wasn't perfect, simply it was his willingness to popular off along score, rest intellectually honest--warts too all--, too opened upward the kimono inwards the search for altitude surgery that made me strongly suspect he'll popular off to that side past times side level--and beyond.  

Those are the traders you lot desire inwards your network:  they volition convey out the best inwards you lot through their devotion to achieving the best inside them.

Further Reading: Keeping Score, Religiously