{"id":47451,"date":"2018-08-30T13:53:02","date_gmt":"2018-08-30T17:53:02","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=47451"},"modified":"2023-04-10T18:05:17","modified_gmt":"2023-04-10T22:05:17","slug":"how-do-i-prevent-my-past-trading-mistakes-from-affecting-my-trading","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/how-do-i-prevent-my-past-trading-mistakes-from-affecting-my-trading","title":{"rendered":"How do I prevent my past trading mistakes from affecting my trading?"},"content":{"rendered":"

\"\"<\/p>\n

Mike,<\/span><\/p>\n

I’ve made every trader mistake I’ve ever heard of (including a few of my own). I have a system that I’ve built over time and I’ve backtested, and I can say it makes me money once followed well. I’ve implemented checklists, video recording and report cards to it. \u00a0However, I think all the mistakes I’ve made in the past are affecting my psychology (I’m also using a lot of tips from Dr Steenbarger’s books to help with this). I’m focused on flawless execution of my plan as my daily goal.<\/p>\n

Do you you have any practical steps that I can take to prevent my past mistakes from affecting my trading?<\/span><\/p>\n

@MikeBellafiore<\/strong><\/p>\n

I will offer some practical ideas for you to consider to help with this trading challenge.<\/p>\n

But first, I want to point out three things you are doing that are excellent.<\/p>\n

First, you have built a system.\u00a0 Well done.<\/p>\n

Secondly, you have backtested this system.\u00a0 This is *very* promising.<\/p>\n

Thirdly, you are seeking help from excellent resources like Dr. Steenbarger<\/a>.\u00a0 When confronted with a challenge, we seek solutions.<\/p>\n

Try these ideas:<\/p>\n

    \n
  1. Complete a Daily Report Card<\/a> on how well you executed on your plan from your trading system.<\/li>\n
  2. Write down your plan and keep it in front of you, while you are trading.<\/li>\n
  3. Mentally rehearse your plan before the trading open.<\/li>\n
  4. Share your plan to a fellow trader, and ask him to hold you accountable.<\/li>\n
  5. Take some time each day to complete visualization exercises where you make quality trades with your trading system.<\/li>\n
  6. Study the heck out of the days you execute well.<\/li>\n<\/ol>\n

    The goal ought to be for daily progress, and weekly progress and monthly progress.\u00a0 The idea is to improve on execution and uncover why and how you execute best.<\/p>\n

    Trade well.<\/p>\n

    *no relevant positions<\/p>\n

     <\/p>\n

     <\/p>\n","protected":false},"excerpt":{"rendered":"

    Mike, I’ve made every trader mistake I’ve ever heard of (including a few of my own). I have a system that I’ve built over time and I’ve backtested, and I can say it makes me money once followed well. I’ve implemented checklists, video recording and report cards to it. \u00a0However, I think all the mistakes I’ve made in the past … Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":47452,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5463],"tags":[5096,653,1354,1989],"class_list":["post-47451","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bella-daily-update","tag-trader-mentoring","tag-trader-training","tag-trading-coach","tag-trading-course"],"yoast_head":"\nHow do I prevent my past trading mistakes from affecting my trading? | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/how-do-i-prevent-my-past-trading-mistakes-from-affecting-my-trading\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How do I prevent my past trading mistakes from affecting my trading? | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Mike, I’ve made every trader mistake I’ve ever heard of (including a few of my own). I have a system that I’ve built over time and I’ve backtested, and I can say it makes me money once followed well. I’ve implemented checklists, video recording and report cards to it. \u00a0However, I think all the mistakes I’ve made in the past ... 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