Best Practices Inward Trading: Conducting Video Reviews

One of the limitations of reviewing our trading too constructing plans based on our reviews is that our await dorsum commonly is tainted yesteryear what nosotros recall too what nosotros do not.  Particularly if nosotros merchandise actively during a day, it’s unlikely that nosotros volition recollect all the factors that went into adept too miserable trades.  We may fifty-fifty forget what specifically happened during a especial merchandise that mightiness direct maintain made it operate out or not.  Our memories are biased yesteryear our emotions, equally good equally hindsight too the factors that around stick out inward our mind.  It is hard to effectively review our trading if nosotros can’t accurately recall our trading!

The agency sports teams acquire around that, of course, is yesteryear videorecording each play too examining the video inward especial to spot best too worst practices.  Today’s best do is offered yesteryear reader Chris Britton, who video records his ain trading too uses the review to operate on his performance:


“I am a discretionary twenty-four hours trader too I merchandise the 10 twelvemonth Federal Reserve annotation too thirty twelvemonth bond futures.  My pre-market analysis consists of identifying telephone commutation support/resistance levels (yesterday’s value expanse high, low, vpoc, etc).  For actual trading too getting a experience for the marketplace action, I lookout the depth of marketplace amongst back upwards from a nautical chart to lookout for emerging support/resistance levels.  

What I uncovering helpful inward doing merchandise reviews is recording my trading session (using Camtasia or the like).  At the cease of the day, I cutting downward the video to the of import parts that consists of trades that I brand too trades that I missed or whatever I experience may brand an of import point.  Then I add together inward notes on the video that hollo for out interesting clues that I keyed inward on or missed.  The finished video is anywhere from 10 to thirty minutes long depending on how many trades I make.  The telephone commutation points inward the video acquaint the context of the cost action, the guild stream on the depth of marketplace that exhibit why I entered (or did non enter), and, inward around cases, why I exited when I did.

How does this assist me?  First, the recording helps me position strengths too weaknesses inward my powerfulness to correctly read the guild flow.  From that, I direct maintain built a library of my ain “best setups” or “avoidable pitfalls”.  For example, I tin review trades that had a successful breakout at around resistance degree too compare the guild stream from those to trades that had a failed breakout.  The telephone commutation chemical ingredient is spotting what the guild stream was doing that made the departure betwixt the two.  If my skills can’t explicate it, too therefore at to the lowest degree I direct maintain the library to review inward the time to come for when my guild stream reading skills volition hold upwards improved.  

Second, the merchandise reviews at the cease of the twenty-four hours are truly enjoyable.  Even if a merchandise is a loser, I relish watching the video.  That is because inward around way, I amend my depth of marketplace reading skills. Before I was making recordings, I dreaded the losing merchandise reviews too trying to hollo back what I did wrong.  That opened the door for bias to creep inward which brand learning from the mistakes harder.  With the recording, I learned that I can’t escape my ain accountability inward making errors.  

Finally, play dorsum reviews during dull periods or on the weekends truly assist travel on my heed abrupt too ready me for the adjacent trading session.  I direct maintain constitute that piece watching these reviews, the dialogue inward my heed takes on an teacher type purpose where I travail to explicate the play yesteryear play action.”
I especially similar Chris’ observation at the end, where he notes that watching reviews places him inward an teacher role.  That reflects the deport on of self-coaching.  When Chris watches the videos, he is similar a jitney reviewing game cinema amongst players.  Going to specific portions of the video, reviewing the elements of functioning inward detail, too noting what could hold upwards done differently adds a degree of especial to review that is impossible to replicate amongst a retrospective journal.  As Chris notes, the reviews travel enjoyable, because they are constructive–they teach–and don’t merely hollo for out negatives.  
If blueprint recognition is a business office of cognitive focus too amount of exposure to those patterns, too therefore a focused, video-based review is a peachy agency to accelerate a trader’s learning curve.  The trader who has watched markets during the trading session too and therefore focused on patterns inward post-market review merely has to a greater extent than learning experience per unit of measurement of fourth dimension than the trader who fails to behaviour review.  The video review is a powerful tool for learning too self-coaching.

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