Find Your Edge

Everyone is different. We all have our own strengths, resources, and abilities and success in trading is becoming aware of these facts and using them to your advantage. Being among others who have a similar pursuit makes sense, but any attempt to mimic them exactly is likely to result in frustration.

As a full time trader I advocate a few ways of achieving this. Foremost, keep as many details as possible about your actual trades. Some platforms are better at this than others. For example, one of the great tools Stage Five offers is a Trade Analyzer tool. It automatically records harder to capture data like maximum favorable excursion, maximum adverse excursion, time in trade, and time between trades. These stats can help you spot issues and also when your optimal performance window exists. But you can keep these stats on your swing trades too, and the time resources you commit to it will pay huge dividends.

Another useful tool is recording your performance. Use a screen capture to record your charting computer during the day so you can review the tape. You can speed the tape up and pause it to watch your performance much like any high level performer would. You can also use a laptop cam to record yourself and pick up on postural cues, abnormal breathing, and more.

Finally, keeping a journal where you detail not only why you took a trade but also what you were feeling. I know this sounds a bit gushy but you will encourage introspective and help you improve your ability to flow. Just as important as keeping a journal is consistently reviewing it for themes.

Subs, this week’s Strategy Session is out. It is an honor to produce and I sincerely hope it adds value to your trading.

Trade’em well this week, and if you have any questions about these ideas and/or want additional resources to work through just drop a comment below.