Which are my weaknesses?
1. I am too impulsive
2. I have hard time to keep my patient
3. I loose easy concentration
4. Pretty often I loose my self in the charts
5. Seeing the both sides of the coin. In some cases this can be helpful, but I have found that seeing the both sides gives me hard time to make proper assessment and decision.
1. I am too impulsive. Well here is a difficult task, because it is very difficult to master your own feelings which are actually driven by my beliefs. So in trading as long as I keep my entries according to my edge I should be fine. In personal level the impulsiveness can be controlled by self observation and assessment of my acts. This also comes with the age and experience.
2. Have hard time to keep patients. This one overlap the first one
3. I lose my concentration. Here comes the hard work over my self. Acknowledge when my mind is drifting somewhere else and bring it back to the game. The brain is like a muscles has to be maintained everyday. Of course you have to know it’s limits and give him a break
4. pretty often I lose my self in the charts Pulls my self out from the time frame that I am struggling or just leave the computer and do something fun.
5. Seeing both sides if the coin. Well here I do not have any resolution. It is the way my brain works. I have equilibrium between the both sides. So in trading I just have to keep with my edge and I should be OK
This can be overcome with journaling. Your journal is your mirror, it lets you see yourself. David has a video on what your journal should tell you, I’d like to add the importance of documenting all your trades along with thoughts and feelings, do this on a daily basis, at the end of the week review. Constantly review your journal. You will start to notice repetitive patterns good and not so good. After you figure out what you are doing good, you can build on these. After you figure out what you are doing not so good, you can work on eliminating these.
FOCUS = follow one course until successful. This could be simply trading one pair rather that scattering your FOCUS among several. I believe that until someone can master one pair one method, trying to master more would be counter productive.