"They" say the best way to communicate is in 3 simple steps.
Tell people what you are going to tell them. Tell them. Tell them what you told them.
In light of that, we will divide our time in the following ways:
- Psychology or "Getting Your Mind Right"
- Risk Management
- Developing Trading Systems
- Testing Trading Systems
- Recording the Results (Trading Log/Journal)
Fear is the worst of it. It is the real enemy. We fear the unknown. Trading is all about the unknown. We must embrace it. And to do that we must Get Our Mind Right.
We can't trade unless we have the opportunity to do so. We must stay in the game. We can't bet too much. We can't bet too little. And to do that we must manage our risk.
All of this doesn't work unless we have a sound plan. Plans take time and research to put together. So we will develop a trading system.
How do we know if the system is any good? We should probably look backward in time. And forward in time. And how do we confirm that our results aren't garbage? To do that we need to test our trading system.
Finally, how do we know what we have done makes sense. We will need a reliable way to organize this mass of information. To do this we will record our results.
So, get you mind right, control you risk, develop a system, test it and record the whole experience.
There, I told you. Now let's do this.
"Nothing happens in contradiction to life, only in contradiction to what you believe about life."
