For Business

Trading Psychology

How to Review Your Trading Week

A trading week is reviewed by its grades, not its total: the total is five results and the grades are one trader. This paper shows you five example journal lines and the two C's among them; the idea as a match tape watched on Sunday with the score already known; the three questions every line is tried against, drawn as keys on a ring; what the review produces, one note on the monitor naming one habit; and the week's report on your platform, which holds the money and nothing else.

Difficulty
Intermediate
Reading time
5 min
Pages
8
Reviewed by
Saman Rahbar

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The week's five lines

The review reads the second column. Five lines from a journal, with these as example figures at 0.40 lot, where 1 pip is 4 dollars. Monday plus 60, closed at the target, an A. Tuesday minus 25 at the stop, an A. Wednesday plus 15, closed by hand at 15 pips of a 50-pip target, a C. Thursday minus 25 at the stop, an A. Friday minus 40 on a trade with no setup behind it, a C. The week's money is minus 15. The week's doing is three A's and two C's, and the review reads the second column, because the first is five results and the second is one trader, and only the trader will be there next week.

The match tape

Picture a match tape, watched by the coach on Sunday. The score is already known, and the tape is not watched to learn it. It is watched for the frames where the wrong thing was done, the two gold ones here, Wednesday and Friday, and for what the wrong thing has in common. Each frame is one trade, as it was done at the moment it was done. The result is not in the frame; the result came later, and the coach who watches for results learns nothing the scoreboard did not already say. The weekly review is the tape, and it takes half an hour.

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