Performance Review – a short circuit to profit
One of the key objectives of Futex Academy is to short-circuit the learning process for each individual that chooses to undertake one of our intensive training programmes. To establish a career as a consistently profitable futures trader is the greatest of challenges and the chances of success are dramatically improved with effective training, mentoring and support at the early stages. By laying a solid foundation at the beginning of a career, aspiring traders are able to build an approach to the financial markets that generates consistent profits, irrespective of market conditions, and continuously improves over time.One of the tools we employ with our trainees, as an integral component of their trading foundation, is a process of daily performance review. This effective technique involves analysing the day’s performance, identifying both positive and negative performance aspects, categorising them and assessing their importance before leaving the trading floor for the day. This process becomes part of the daily routine of our traders and is a highly effective method of short circuiting the learning process. It allows our novice traders to very quickly build up a portfolio of positive and negative trading behaviour that is unique to the individual and not lifted from a textbook. In partnership with their trading mentor, each trader is supported through the process of repeating their positive, profitable trading aspects and eliminating those that they have identified as negative and which act as a barrier to consistent profitability. It is imperative that this highly effective technique is performed, as a minimum, at the end of each trading day. It is essential that traders review their day’s performance irrespective of whether they have finished up or down, or have traded well or badly. In fact, from experience, the review process is most effective following the euphoria of a winning day. It is from such days that you can identify excellent behaviour that you then strive to repeat. It is also an effective tool to ensure that you remain balanced and prepared for the challenge of the next day and do not get carried away with your recent success.
The dedication, discipline and self-honesty to analyse one’s performance daily, and act upon the information gathered, is a prerequisite to success at the early stages of a trading career. You never stop learning in trading and should always strive to improve and hone your winning habit. Traders are at their most vulnerable when they believe that they have mastered trading. The failure to review one’s performance daily is a sure sign of such an incorrect trading mindset and an impending, and often expensive, reminder from the markets.
Futex Investment & Trading Academy
“The Ultimate Futures Trading Education”
Tags: dedication, discipline, mentoring, routine, self-honesty, support, training
