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Hi,
To grow as a trader is often summed up as always being on the lookout for
ways to improve the reward to risk ratio you are enjoying in your trading.
There are other ways to look at this moving to better ones trading.
But increasing rewards or lowering risk or increasing reward relative to
risk seems to cover the majority of perceiving and achieving personal
growth as a trader.
Such a trader sees opportunity everywhere - even in the failings of others.
It has been said before "A wise man is someone who can learn from the
mistakes of another."
My experience is that this is true, both from personal experience and from
that of the differences between my successful and unsuccessful clients.
I consider that I have had a poor week, irrespective of making good
profits, if I have not learnt something new and started to exploit it.
In the last 7 days I have:
- identified persistence of direction at various time horizons, for
various markets,
- evaluated position sizing adjustments to exploit this knowledge,
- tested and implemented one of the lower risk changes,
- finally learnt - it took me two small personal failures and a client
making the same mistake - to introduce new procedures for rolling over
futures before expiry, to avoid various difficulties at expiry,
- identified my objectives for integrating a longer time horizon into
my trading (this means1-3 years for me),
- found an initial crude vehicle to trade this time horizon,
- rearranged capital allocation,
- opened an account for this purpose,
- made my first actual (small) trade on this time horizon,
- ...
What are you doing to move forward in your trading skills and achievements?
May your potential be realised, Ric.
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