You need to track what you are doing for the best outcome. If it gets measured, it gets Improved!
Over past two years of trying to become a consistent trader and at the same time trying to become healthy with diet , here are some striking similarities:
1. Know Your Type
Different body types require different approaches to diet. Understanding your body type, whether it's ectomorph, mesomorph, or endomorph, can help you tailor your diet and fitness routine for optimal results.
Similarly different mindset , beliefs and experiences shape up our mental space. Identifying which kind of trading suits best is must.
If your sleep is getting affected you are definitely having a wrong diet or over leveraged …..similar isn’t it?
2. Quantity and Quality Matters
Avoid junk, embrace greens → Diet
Avoid one-two star setups, embrace quality setups → Trading
This also doesn’t mean you can keep on eating greens. Quantity and portion size of all components matter.
Similarly , in trading the position size you have in a quality setup matters
3. Measurement is the Holy Grail
Recently , I came across the app MyFitnessPal who helps track the number of calories, the target goal and projected weight if I follow a particular type of diet
While projections can be delusional , Measuring what goes in the body definitely helped me avoid that one additional cookie or sugary drink which I would have normally consumed
This is the Holy Grail!
Tracking and maintaining a comprehensive trading log will help you accept these small temptations and mistakes and then when it is the moment of truth…you will avoid making silly mistakes and stay discipline
4. Being True to Yourself
What is the use of a trading log if you maintain it selectively, sporadically or not HONESTLY
While everyone agrees that Trading log benefits a trader and is the BOOK OF TRUTHS , honestly maintaining a trading log is the discipline which no algo/hot tip or online course can teach
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