Accurate Self-Assessment
"Above all, it is necessary for a person to have a true self-estimate, for we commonly think we can do more than we really can."
— Seneca, On Tranquility of Mind
Today's meditation is something that as traders, we should be regularly doing as a matter of course. Assessing our trades is a great way to improve and it also keeps us focused on what we are trying to achieve, when we use our strategies day in day out. Did we comply fully to the rules/criteria for our strategies? Did we get lucky with a trade and let it run longer than we should have done, when it didn't go as planned? Something to correct next time if this was the case! Did we enter the trade at the right time? Did we feel rushed into any trades today? Is there anything that we can improve from today's trading session? These are all valid questions that we should be asking ourselves every day that we trade. This is what keeps us fully focused and committed to maintaining our level of consistency. Anything that we can identify, will help us improve, moving forward on our trading journey for sure!
Regular and "accurate self-assessment" is an absolute must, if we are to improve as traders.