As traders, we know we should have a trading plan which is frequently different than an overall business plan. Then we know we should journal our trades so that we can learn from the mistakes or poor choices and refine our trading skills. This continual review also helps us know when the Market Tempo is changing.
I have to work on my discipline to journal my trades, so I have searched for a methodology that would help me simplify this ‘Must Do’ part of my trading business.
Rob Roy, the founder of WealthBuildersHQ, is an exceptional trader and educator. He has shared his Strategy Creation System on several occasions in the subscriptions that he offers. After listening to Rob about his SCS again in a free online class, Power Hour, it hit me. I will use this same system to grade my trade and that will become my journal.
- Allow me to share.
- How well did you identify the trade set up? A? B? C?
- How good was your entry to support or resistance? A? B? C?
- How well did you manage the trade? A? B? C?
- Did you exit where you planned? A? B? C?
No matter how new you are to trading the financial markets or how long you have been trading, a mentor is always valuable. I actually enjoy reviewing my trades now.
Rob Roy offers so many bonus materials with each and every product available that you will always feel like you have someone in your corner. Here at WealthBuildersHQ, there are many free online classes, free videos, free resources and the website membership is free.
To become a serious trader, put a business plan in place, have a trade plan and grade your trade.