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Process What Works

Every trader needs to create a process they can lean on. This can be considered an edge or strategy but when thought of in this context it can be very challenging for the beginner. The new trader can get stuck searching for a system that eliminates risk and gives clear signals. This search for clarity can become an obsession and lead us to never actually finish the process development. When you are a novice you are not only a novice trader but also a novice process creator.

Imagine the scenario where you have been back-testing or paper trading something that works for you. You feel like the secrets of trading are becoming yours and then you pull out your rule book. You look at the system that has been working and you try to force it into a “strategy”. You realize that you have to change the system because it needs to meet the requirements of the strategy template. You chip away at your wonderful strategy until it fits all the rules and you begin testing again. At first everything seems fine but slowly you realize that it’s not working anymore. You bravely accept the reality of the situation and start all over.

What if instead of trying to fit your winning edge into a templated idea of a strategy you did the reverse. Take what works for you and create the process of trading it around the success you have had. You process out what works instead of trying to create something in a process that works. Don’t fight your success and don’t underestimate an edge that works for you.

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