Episode 3: Properly Interpreting Trading Results
To become consistently profitable traders, we need to effectively learn from and adapt to the market place. In order to do this effectively, we need to be able to take actions, get feedback, and then properly interpret that feedback in a way where we can take more useful actions the next time. This is how we get better at anything. This is our default approach to learning.
Unfortunately for traders, this approach to learning is effective only in situations where the actions you’re taking are a direct cause of the results you’re judging, and only when you’re making that judgment in a time frame that is appropriate. This is not the case with trading. Listen in and explore how you can interpret your trading in a way where you take away the right lessons and improve as a trader!
***EXPLETIVE ALERT – There is an expletive used in this podcast. If you have people with a sensitivity to expletives, please take the necessary precautions.***
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LISTEN TO THE SHOW
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WHAT YOU WILL DISCOVER
- How to focus on the right lessons from your trading
- What is the Circle of Doom?
- The importance of a Trade Debrief
- What If exploration
RESOURCES FEATURED IN THE SHOW
- Learn more about Trading Performance Membership with monthly coaching opportunities!
- Learn the Trade Debrief Process in the APM2 Program.
NOTABLE QUOTES:
- “If you judge whether or not you’re doing the right thing in the long-term solely on the results of a few trades then you’re almost certainly going to end up in the Circle of Doom.”
- “You must avoid evaluating the quality of your decisions and your strategies based on short term results without realizing that those results are highly correlated with luck and are therefore random in nature.”
