CHAPTER 3
ON KEEPING RECORDS
Whenever you put on a trade, you must have two goals. The first, of course, is to make money. The second is to become a better trader.
There is a lot of randomness, and the best-planned trades can go awry. Even a top trader cannot win in every trade—this is a fact of life. On the other hand, becoming a better trader is a realistic and essential goal for every single trade.
You must keep learning from your experience. Whether you win or lose, you must become a better trader after each trade. If you don’t, you have simply wasted an opportunity. All that energy and time you put into analysis, all the risks you took with your money—for naught.
The best way to learn is to keep good records. A wannabe trader without records is a dreamer. All numbers relating to your trades must go into a spreadsheet, and a visual record of your trades must go into your diary.
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