The correct and well planned direction for your trading journey is more important than speed. Most traders get nowhere when they focus on the speed of their journey. - Paulina Jozwiak

<aside> <img src="/icons/reorder_gray.svg" alt="/icons/reorder_gray.svg" width="40px" /> Steps for direction

Developing an annual plan and reflecting on the progress will help you focus on your development towards become a consistent, profitable trader?

  1. Describe your why: why do you want to become a consistent, profitable trader?
  2. Look back on your progress so far
  3. Set goals and subgoals for the year (S-M-A-R-T)
  4. Plan your weekly tasks
  5. Evaluate your progress on a weekly basis
  6. Evaluate your progress on a monthly basis

BE HONEST TO YOURSELF IN YOUR EVALUATIONS

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The only relevant goals in trading

From the way I see it, developing a technical edge is step 1. With a technical edge I mean that it’s CRYSTAL CLEAR what you want to see where and when to enter a trade, where your stoploss should be and where you want to take profit. Imo this can’t be achieved without backtesting (with replay function) or doing hindsight analysis. This work is not nice to do, but skipping it will result in gambling. You NEED data to know what you want to see where and when. Collect this data in a structured way.

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  1. Build a technical edge which is crystal clear
  2. Build a mental edge
  3. Become a good risk manager
  4. Have as little distraction as possible
  5. Celebrate small wins

Weekly tasks and evaluations

<aside> <img src="/icons/exclamation-mark_gray.svg" alt="/icons/exclamation-mark_gray.svg" width="40px" /> Plan your actions for the week during the weekend. At the end of every week reflect if your actions contributed to your goals and make a plan for what you are going to do next week.

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End of month evaluations (make these a routine!)

<aside> <img src="/icons/exclamation-mark_gray.svg" alt="/icons/exclamation-mark_gray.svg" width="40px" /> At the end of every month reflect if your actions contributed to your goals, what goes well, what you need to change etc

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