The Day In Review
"I will keep constant watch over myself and — most usefully — will put each day up for review. For this is what makes us evil — that none of us looks back upon our own lives. We reflect upon only that which we are about to do. And yet our plans for the future descend from the past."
— Seneca, Moral Letters
As traders we want to improve. In today's meditation, it is suggested that we keep our own journal of each day's events, so we can look at things that we can maybe improve. This journal will also confirm the things that we are doing well and gives us a boost in confidence, knowing that we are on the right path. There is however, always something that we can work on! I save screenshots of my trades every day, which I find very useful. Like I actually said yesterday, I record my thoughts (ramblings and muses) in a word document along with quotes that I like, which I read every day before trading. I also analyse my day's trading. Did I follow my strategy using the full criteria and did I execute it as well as I could have done? Are there things that I could have done differently? Maybe I should have exited a trade that was going against me a little quicker? Keeping on top of all these things means we will become more focused and better traders in the longer term. Reviewing our trades at the end of each day is a great habit to get into. Today's meditation tells us that when we make the effort to record our thoughts each day, we are less likely to forget them and we can track our progress too.
Sound advice I would say and it is definitely worth the effort, if it rewards us in the long run!
Why not give it a try?