Trade Less; Review More!

 

Day Traders

If you're not currently profitable, or achieving the level of success you wish to achieve…

Is your current situation something like this?

Trade Less Review More

WRONG! WRONG! WRONG!

I know there is a LOT to be learnt through live trading. But it's the review process which drives growth and development.

You'll see things during a review session, after the fact and away from the emotion, which were not visible in the live market.

You'll discover things within your stats, which were not visible in the live market.

If you want to progress, time for an effective review session is NOT negotiable.

You must make a choice.

You either HAVE TO cut something from the time outside of trading, to allow for an effective review session and ongoing learning.

Trade Less Review More

Or you have to cut your trading…

Trade Less Review More

Trade Less Review More

Longer Timeframe Traders

The same applies to you.

If you're not currently profitable, or achieving the level of success that you wish to achieve…

Is your current situation something like this?

Trade Less Review More

If you want to progress, time for an effective review sessions is NOT negotiable.

You must make a choice.

You either HAVE TO cut something from the time outside of trading, to allow for an effective review session and ongoing learning.

Trade Less Review More

Or you have to cut your trading…

Trade Less Review More

We all want to trade more.

But if you're not yet consistently profitable, or not yet achieving the standards of success you believe you are capable of achieving, then your priority must be ensuring an effective review process as well as time for learning, testing and development.

You can always trade full-time again in the future.

But for now, less is more.

Trade less. Review more.

Happy trading,

Lance Beggs

 


 

Written by

YourTradingCoach - Admin

4 Comments to “Trade Less; Review More!”

  1. Md. Jafor Ikbal says:

    Hi Lance,

    Thanks for your nice advice. Every weekend, I read your articles, watch your you tube videos. But I cannot success in trading. Though I have identified my entry area. But afterwards, it goes to wrong. And I feel at that moment my entry setup area was wrong. Please advice me how could I get rid of this situation and get consistent profit in trading.

    Another question, If I gain in a trade, afterwards, it is going to loss too soon. I sell that share in losing price hoping it will drop more.

    I am following share business for long 12 years. But I cannot still find its way of profitability.

    Appreciating your advice.

    Regards,
    Jafor
    Bangladesh

    • Lance Beggs says:

      Hi Jafor,

      I’ve checked the sales records and you don’t have the YTC Price Action Trader. There is little I can do then with no knowledge of how you’re trading.

      But this is the whole point of the article. It’s the work you do outside of trading which drives your growth and development.

      So after 12 years you’re not finding any progress.

      Why?

      To grossly simplify the problem, it’s either (a) your strategy does not provide edge, or (b) your implementation of the strategy destroys the edge.

      Which is it?

      This will need to be the initial aim of your review. Is this a strategy problem? Or a problem with implementation?

      Beyond that, there is a whole lot of work still to be done. But that is STEP ONE.

      Best of luck,
      Lance

  2. Gabriela says:

    Hi Lance,
    thank you so much for all your excellent posts! I particularly enjoy the ones on the meta-game of trading. They have helped me a lot!
    What ratio would you recommend for the time spent trading vs. reviewing (for day traders)?
    And does this ratio change as one progresses as a trader?
    Thanks,
    Gabriela

    • Lance Beggs says:

      Hi Gabriela,
      Thank you for your great feedback. I’m pleased you’re finding value in my writing. 🙂
      What ratio should day traders have for time spent trading vs reviewing? I probably average around 1:1. Some days a little less review. Some days a little more. Plus weekend study on top of that.
      If not yet profitable, I’d say maybe even 1:2 (ie. twice as much time spent reviewing and studying as you do trading)
      It really is this important.
      Cheers,
      Lance

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