Let’s talk about tracking your trades. . .
Most traders know that this is a good daily practice, although they don’t do it. When we think about tracking trades, it often includes recording entry and exit, profit and loss, and other “technical” stats.
When working with traders, I encourage them to also track feedback related to themselves, such as their feelings, their thoughts, and how well they traded to plan.
That last one is really important. (If your focus is not on making money during the trade but on following your plan, the rest will take care of itself. So, getting really good at following your plan is paramount!)
Recently, I added a new item to the list of what I ask traders to track. I encourage them to start recording their “deservability” of making money or being successful. So, on a scale of 1 to 5, how much did they think they deserved the profits or success of each trade taken.
It may seem a little bit strange to try to quantify or to track deservability. But, it is important to have a sense of whether or not deep down inside we think we deserve to be successful or not.
Usually it is our subconscious mind that controls our thoughts about whether we deserve something or not. When you don’t think that you deserve success at some level, it will be hard to create it.
I invite you to begin adding deservability to your daily trade tracking list. See if you can get a sense of how much you honestly think you deserve the money gained in each trade. If you realize that you don’t, this is definitely a core area to work on!
I am only scratching the surface here. This is a huge, core topic for traders. To speak with me directly about your deservability (or any issue with your trading), Contact Me for a free Discovery Session.