Saturday, October 22, 2016

Are You Operating in Peak Performance Mode?

How many of the following apply to you?  Please answer true or false to each item:

I've clearly and visually mapped out my trading process, from the ways I collect information and generate ideas to the ways in which I express those ideas as trades (and as constituents of a portfolio), enter and size positions, manage and adjust positions while they are open, and exit trades.     True     False

I've clearly and visually mapped out my personal process to maximize performance, from how I sleep, eat, exercise, socialize, and utilize my non-work time to sustain a peak state.     True     False

I explicitly keep score in written fashion, not just with my profits and losses, but with each component of my trading and personal processes to see what I've done well and what I can improve in process terms.     True     False

I use my trading and personal process scores to explicitly identify written goals for improvement and the concrete steps I will commit to in order to achieve these goals.     True     False

I keep a written scorecard of my performance vis a vis each of my goals to track my progress and, if necessary, make adjustments in how I pursue the goals.     True     False

I use my scorecard to make ongoing adjustments to my trading and personal processes, so as to turn initial improvements into ongoing habit patterns.     True     False

Every trader goes through losing trades and losing periods.  When we're not in peak performance mode, losing money is a fail.  In peak mode, losses become First Attempts In Learning.  Peak performance mode is our way of committing ourselves to growth and improvement; it's our way of becoming accountable to ourselves.  Merely writing in a journal does not ensure deliberate practice and ongoing improvement.  We become better by keeping score in process terms and continually refining our personal and professional processes.

Further Reading:  The One Trading Drill That Can Improve Performance