In This Chapter
Recording your trades
Monitoring your thoughts and feelings
Admitting your mistakes
Viewing your charts on paper
A business lives and dies by its numbers. Business owners must know what their income and expenses are. Tracking where the money is spent, how to lower or eliminate those expenses, and how to increase income are all part of running a profitable business.
Trading is a simple, straightforward business. You don’t have to worry about legal liabilities, underperforming employees, account receivables, mounds of paperwork, or being at the mercy of unreliable vendors. With trading, nearly 100 percent of your time is directly related toward making money. You rely on yourself. You succeed or fail on your own skill and ability.
Despite the simplicity of its business model, trading is still a business and must be treated as such. Part of that means documenting everything and monitoring your numbers to see where you can improve.
Trading is also performance-based, which makes it almost like a sport. In fact, ...