Accountability

One essential aspect of trading is keeping score.

There is simply no way to improve without measuring past performance.

The critical aspect here is not to do this with measuring p/l.

The most crucial data is knowing how well you were able to execute your system. this will lead to self-reflection on possible loopholes in your execution skills and a lack of rules for the execution sequence.

Secondly, trade system performance needs to be measured, and again, the least important aspect is viewing this from a p/l view.

The risk needs to be measured, and consistency of ones approach.

Most and foremost, it all starts with collecting data.

We find two data sets imperative.

1. A trading journal that gives data insight into one's psychological behavior

2. A data collection that entails aspects of one's edges and trades taken with their specific data sets