I vaguely remember that when I was preparing for the college entrance examination, I recorded a thick error-correcting notebook, recording down the mistakes I made and the problems that were easy to make, so that I would not repeat the same mistakes when I encountered similar problems next time. Looking back now, I feel deeply.
Fortunately, in the process of trading, I still insist on this habit. After the end of the transaction every day, summarize the transaction situation of the day. Occasionally looking through the transaction records written at that time, some content was so stupid at the time, some content has not been improved until now, and some concepts are still insisted on today. Time flies, the seemingly insignificant steps have made great progress for me.
Therefore, I strongly recommend that if you want to go further in the trading market, then trading summary is an essential part.
Transaction summary, what to look at?
1. The logic of trading entry and exit
Afterwards, you can use the "God's perspective" to see whether the logic of entering and exiting the transaction at that time was "correct". The success or failure of this transaction is the result of strictly following his own trading plan; or it is driven by data; or it is luck, a blind cat meets a dead mouse, etc.
Use the review to find out the rationality of entering and exiting the market and whether there is room for optimization in the trading plan. The transaction is successful, whether this successful model can be replicated, and whether it can still "follow the gourd" when encountering such price action next time.
The focus is on the failed transaction, why did the transaction fail, and what caused it? Normal and necessary losses in a trading plan? Or because I did not strictly implement the trading plan, or was affected by other factors, leading to early entry and exit, etc. As long as you can find the reason, try to find out as much as possible to avoid the possibility of failure next time.
The process of error correction is also the process of transaction growth.
2. Position mentality
It is said that the most difficult part of trading is holding positions, and the most difficult part of holding positions is to control one's heart. Most of them are ordinary people. Those who claim to regard money as worthless are either rich and successful and do not need to run around for money; I think except for the first type of people, the rest are all interested in money.
Of course, a trader's sensitivity to money can be cultivated. It can be said that the longer the transaction time, the greater the funds in charge, and the degree of care about money will definitely decrease later on. It is similar to the world's top fund managers, who control tens of billions of dollars of funds, and even a day's profit and loss are "astronomical figures." This ability is definitely the result of acquired training.
Trading summary is a good way to record your own trading mentality. What is the mental journey of this transaction in the process of holding a position? When the transaction is recognized by the market and the account makes a large profit, how does the mentality change; when the transaction suffers a loss and is invited out of the market by the market, what is the mentality like? Try to completely restore the trading mood at that time as much as possible, and give room for optimization of the later position holding mentality.
3. Transaction details
The goal of trading is still to make money. When your transaction time is long enough and the transaction records are sufficient, the transaction results are statistically significant. The detailed transaction record is like our physical examination report, from which we can peek into any problems that arise in the transaction.
For transaction records, I will focus on these two points. One is the winning rate of transactions at this stage. What is the winning percentage? Is there room for optimization in the transaction winning rate? When the transaction winning rate increases, will it affect the quality of the transaction and so on. The second is to look at the profit margin of the transaction against the market. Whether this transaction has strictly implemented its own trading plan, whether it has eaten most of the profits of this trend/band, and whether there is still room for improvement. Whether the signal is reproducible, the next time the market continues to have such a price action, it can still be operated according to this idea, etc.
How to optimize transaction records
1. Improve the details of transaction records and develop exclusive record templates
The one that suits you is the best, control your own recording rhythm, find and improve your own transaction record sheet. The transaction record form does not need to be beautiful and fancy to be displayed to the outside world, as long as it is convenient and comfortable for oneself to look at. The key point is to have both pictures and texts, so that you can quickly find what you want to find when you look it up next time.
Focus on the description, the reasons for the entry and exit of the transaction. The statistical effect here is the most obvious. Describe the reasons for entering and exiting the market at that time in as much detail as possible, such as whether there is interference from the news, whether the signal is generated during a normal trading time period, and if the signal is at 3 o'clock in the morning In such a time period, the actual combat is of little significance, and it can only be done occasionally. Using the method of combining pictures and texts, you can intercept the graphics of multiple cycles, which is convenient for future review.
In short, it is detailed, process-oriented, and a fixed thinking is formed.
2. Timed browsing mechanism
Set a time node for yourself to summarize your transaction status in the previous stage. Minimize the number of times you make mistakes on the same question. My personal habit is to summarize the trading situation of the week when the market is closed every Saturday, and re-simulate the trading situation at that time against the market chart to see if the trading logic at this time is consistent with the trading logic at that time. If there are objections, continue to optimize.
Maybe, you will feel that this kind of work is very cumbersome, but after you persist for half a year, you will have obvious feelings, and the mistakes due to your own subjectivity will decrease. Once you get used to it, this job takes up very little time, probably less than playing a single game.
3. The following is a personal template for reference:
The template is provided by Payne, our senior analyst at Huichacha.
In short, it is still necessary to establish your own transaction record mode, constantly improve and optimize it. The most important thing is persistence and execution.
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