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Define your Trades

If someone asked you to define your trades, could you clearly explain what your trades are?

If someone had a slight adjustment you could make for “Your Trades” could you define your trades and apply this slight change for back-testing? Really think about that! Could you clearly define your trades to the point that you can grow by applying little adjustments?

Everyday you should be able to explain your trades so an 8 year old could repeat them like playing a video game. You should be able to rattle off all the reasons you took the trade and all the reasons it was a great trade. Just as important, you should know exactly what negative attributes the trade had; was support too close, had it not broken the moving average, was there enough volume, etc, etc. Keep working on your trades until you can define them. Then and only then can you grow them into great trades.

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