Most discretionary traders see their job like this:
What if you switched this around a bit?
What if you redefined your job as follows:
Is it possible that relentless focus and commitment to the processes and routines which guide your decision making and behaviour… might just see improvement in the actual trading results?
This doesn't mean we're no longer discretionary traders. Discretion can be built into processes. But how we come about our trade decisions, is standardised and made as consistent as possible.
The following post was shared recently on social media:
Essentially, we're expanding upon this idea.
For each of the areas listed in that post, we aim to:
- Seek excellence in development of routines and processes for carrying out that role, and
- Seek consistency in implementing the routines and processes.
It's said, "That which is measured, improves".
But ONLY if that which is measured is applied consistently.
And consistency will only occur if the process is clearly defined.
So maybe consider a little shift in how you define your role as a trader.
Primary role: Development, out-of-session, of world-best routines and processes for (a) finding and exploiting edge, and (b) reviewing and driving growth.
Secondary role: Trading, for the purpose of implementation, validation and testing of the routines and processes, defined above.