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Creating a Trading Report Card
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Creating a Trading Report Card

  #21 (permalink)
Market Wizard
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Marketmonkey View Post
I agree, TJS is great software and support with plenty options for building your "report card" for multiple brokers, systems, instruments. I have used it for years and it gives me exactly what I need to see my performance or lack there of.



Yeah I love the no monthly fee with TJS. I have upgraded twice so far but it is a very minimal fee to do so.

Ron


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  #22 (permalink)
Market Wizard
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John47 View Post
I've heard Steenbarger talk about a report card and the great results he's seen with traders that implement them, especially in a group setting. I don't recall where I read or heard him say this so I haven't found any specifics beyond just that.

Has anyone used a report card with success? What "subjects" did you grade? Were they all standard each day (guessing probably not) or if not...did all or some change?

Interested to hear who's used something like this and how its worked out.

Cheers

My report card is very simple:

Did You follow your plan? Yes or No

If you didn't then you fail.

Make note of why you didn't follow the plan and see if a pattern develops.

When you talk you are only repeating what you already know. When you listen you might learn something new
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  #23 (permalink)
Professional Guesser
Reading UK
 
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deaddog View Post
My report card is very simple:

Did You follow your plan? Yes or No

If you didn't then you fail.

Make note of why you didn't follow the plan and see if a pattern develops.

That approach might work if youre a robot. Discretion is the variable that throws everything off. Its impossible to account for. Discretion = volatility and its randomness can lay waste to the best laid plans.

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  #24 (permalink)
Market Wizard
Prince George BC Canada
 
Trading Experience: Advanced
Platform: IBs TWS
Broker/Data: IB
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Grantx View Post
That approach might work if youre a robot. Discretion is the variable that throws everything off. Its impossible to account for. Discretion = volatility and its randomness can lay waste to the best laid plans.

If you don't follow your plan exactly you will never know if the problem is with the plan or the trader.

You don't grade your trade by whether you win or lose.

If you follow your plan and lose money you have a good trade with a bad outcome.

The thing about a well thought out plan is that it takes the emotion out of trading, you know exactly what to do with every situation. Volatility and randomness are accounted for and you have made the decision how to handle them before you enter the trade.

When you talk you are only repeating what you already know. When you listen you might learn something new
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