How to Evaluate Your Trading
In this video, Roger Hawes, an analyst at Corellian Academy, discusses the importance of evaluating trading as a crucial aspect of the trading process.
Hawes stresses the importance of a systematic and iterative approach to assessing what works and doesn't in trading, and compares it to the way elite athletes rely on their training routines. To explain this point, a primary focus is placed on the post-trade analysis of the trader, with considerations made for the trade process, risk levels, timing, disciplines, and progress made over the last few years.
Furthermore, traders may want to take a moment to take stock of their abilities, ask themselves some key questions, and focus on ideas generation, staying informed about market developments, assessing risk levels, deciding the timing of trade entries, and ensuring discipline throughout the process. The importance of adhering to a trading plan is highlighted, emphasizing the importance of being patient and not allowing emotions to influence decisions.
Finally, Hawes emphasizes the importance of evaluating trading techniques and improving overall performance through this process. Iteratively improving traders' strategies based on their strengths and weaknesses leads to increased confidence and emotional control. The ultimate goal is to create a trading system that inspires confidence and reliability.
In conclusion, insights into the post-trade evaluation process are presented, emphasizing its significance in building a winning formula and achieving success in trading. To enhance their overall trading approach, traders are encouraged to conduct regular assessments, identifying areas for improvement and enhancing their trading techniques.
