As a follow up to the recent coaching insights for traders, here's a second round of thoughts and observations:
* Pull out your largest trades--and your most active trading days-- in the past three months and assess the P/L just for those. That will tell you quite a bit about how you are dealing with risk and reward;
* Pull out your top ten winning and bottom ten losing trades over the past three months and compare their P/L. That will tell you quite a bit about your trading discipline;
* If you are much more unhappy when you lose than happy when you win, a 50% win ratio will feel like losing over time, even if you're making money;
* If you are always looking for the next trade, you will ultimately overtrade;
* If you are confident in your ability to make money, you will not fear missing market moves;
* If you are a consistent trend follower or a consistent countertrend trader, you will not consistently make money;
* Dissect your best trades and you will find out who you are as a trader;
* You won't always make money, but you should always expect to trade well;
* You can't control markets, but you can always control when you bet and how much you bet;
* If an athlete spent as much time working on his game as you do on your trading, would the athlete make a living as a professional?
* Great traders work on themselves after a winning streak;
* Confidence when losing, humility when winning: a formula for long-term success in markets.