I have decided to follow the advice in one of Rocko’s comments, and have created a road map. It is not necessarily a road map to success, nor does it outline my trading strategy in any detail. What it provides is a compilation of all the useful advice that has been generously contributed by readers over the past week. It is a road map of trading behaviour, an explicit reminder of what to do and what not to do.
By keeping this advice close at hand – it is posted just above my computer – the aim is to use it as a daily reminder to help promote my strengths and keep my destructive behaviours at bay. The positive points that I need to focus on are highlighted in yellow, and the negative points are highlighted in green.
Over the past week, with the help of others, I have better recognised and identified my weaknesses (although I am sure there are some still lurking under my introspective radar), and it has culminated in this road map. The next step is to take action. This is harder, although I am already taking gradual steps in the right direction.
Special thanks to the following readers for putting in the effort to helping a struggling trader: Brett Steenbarger, Michelle B, Rocko, LP, nonadams, femi, Paul, Don C, adalfu, and indirectly: Victor Niederhoffer, Fyodor Dostoevsky, and Miyamato Musashi (The Book of Five Rings). If you look carefully, you may be able to spot your names on the trading plan.
When I report my trading results at the end of each weak I will also provide a brief comment on how well I have followed this behavioural road map of trading.
31 responses so far ↓
Conditioning optimal trader behaviour « the 3500 // 10 February, 2007 at 3:21 pm
[...] John Rambo: Okay, okay, it’s the3500 road map. [...]
Week 15 FX trading results « the 3500 // 16 February, 2007 at 10:00 pm
[...] road map score is 7 out of 10 this week. It’s a ’so-so’ performance. I aim to update the [...]
Week 16 FX trading results « the 3500 // 23 February, 2007 at 11:51 am
[...] relatively boring week this week. I experienced a modest loss of -0.6%. My score for following the road map is a also middle-of-the-road 6.5 out of 10, although I think I may be getting stronger at the [...]
Week 18 FX trading results « the 3500 // 9 March, 2007 at 3:53 pm
[...] giving myself a score of 7.5 out of 10 for adhering to my road map because I had one or two minor discretions in the week. Overall, however, I am happy with the [...]
Week 19 FX trading results « the 3500 // 16 March, 2007 at 4:36 pm
[...] managed to produce a satisfactory gain of 4.6% this week. My score for following my road-map of trading rules and behaviours is also pretty good at 7.5 out of 10, but I still don’t feel [...]
Week 20 FX trading results « the 3500 // 23 March, 2007 at 6:22 pm
[...] giving myself a road-map scoring of just 4 out of 10 because I ended up chasing a loss and this sent my trading behaviour in [...]
Week 21 FX trading results « the 3500 // 30 March, 2007 at 8:18 pm
[...] am awarding myself a score of 8 out of 10 for following my road map. There were times when it felt it like a 9 or even a 10, but I am only willing to award myself [...]
Week 22 FX trading results « the 3500 // 6 April, 2007 at 5:27 pm
[...] the risks I was taking and I pressed only when I perceived opportunity. My score for following my road-map is 8.5 out of 10, the highest to [...]
Week 24 FX trading results « the 3500 // 20 April, 2007 at 6:30 pm
[...] readers will know of my ongoing struggle to adhere to my behavioural road map. I don’t know whether taking a week off gave me better perspective, but for the first time [...]
Trading and the importance of the OC « the 3500 // 23 April, 2007 at 1:46 pm
[...] of the OC is central to life’s decisions. I tend to focus on it when I refer back to my road-map. It also plays a central role when I contemplate the long-run viability of trading as a career. I [...]
Week 31 trading results « the 3500 // 8 June, 2007 at 4:16 pm
[...] Behavioural road-map score: 9.5 out of 10. [...]
Week 32 trading results « the 3500 // 15 June, 2007 at 2:51 pm
[...] Behavioural road-map score: 8 out of 10. [...]
Week 33 trading results « the 3500 // 22 June, 2007 at 2:16 pm
[...] Behavioural road-map score: 9.5 out of 10. [...]
Week 35 trading results « the 3500 // 8 July, 2007 at 10:31 pm
[...] Behavioural road-map score: 9.5 out of 10. [...]
Week 37 trading results « the 3500 // 20 July, 2007 at 10:16 am
[...] Behavioural road-map score: 7 out of 10. [...]
Week 38 trading results « the 3500 // 27 July, 2007 at 5:18 pm
[...] Behavioural road-map score: 5 out of 10. [...]
Week 39 trading results « the 3500 // 6 August, 2007 at 1:20 pm
[...] Behavioural road-map score: 6.5 out of 10. [...]
Week 40 trading results « the 3500 // 13 August, 2007 at 5:11 pm
[...] Behavioural road-map score: 7 out of 10. [...]
Week 41 trading results « the 3500 // 20 August, 2007 at 11:49 am
[...] Behavioural road-map score: 7 out of 10. [...]
Week 42 FX trading results « the 3500 // 24 August, 2007 at 2:07 pm
[...] Behavioural road-map score: 7 out of 10. [...]
Week 43 FX trading results « the 3500 // 31 August, 2007 at 8:20 pm
[...] Behavioural road-map score: 9 out of 10. [...]
Week 44 FX trading results « the 3500 // 7 September, 2007 at 12:56 pm
[...] Behavioural road-map score: 9 out of 10. [...]
Week 45 FX trading results « the 3500 // 16 September, 2007 at 5:49 pm
[...] Behavioural road-map score: 7 out of 10. [...]
Week 46 FX trading results « the 3500 // 21 September, 2007 at 2:05 pm
[...] Behavioural road-map score: 7 out of 10. [...]
Week 47 trading results « the 3500 // 2 October, 2007 at 12:02 am
[...] Behavioural road-map score: 7 out of 10. [...]
Week 48 trading results « the 3500 // 5 October, 2007 at 12:36 pm
[...] Behavioural road-map score: 8.5 out of 10. [...]
Week 49 FX trading results « the 3500 // 15 October, 2007 at 4:55 pm
[...] Behavioural road-map score: 8 out of 10. [...]
Week 50 FX trading results « the 3500 // 19 October, 2007 at 1:12 pm
[...] Behavioural road-map score: 8.5 out of 10. [...]
Week 51 FX trading results « the 3500 // 26 October, 2007 at 12:15 pm
[...] Behavioural road-map score: 7 out of 10. [...]
Week 52 trading results « the 3500 // 5 November, 2007 at 4:49 pm
[...] Behavioural road-map score: 7 out of 10. No Comments Leave a Commenttrackback addressThere was an error with your comment, please try again. name (required)email (will not be published) (required)url [...]
Week 53 trading results « the 3500 // 11 November, 2007 at 4:26 pm
[...] Behavioural road-map score: 7 out of 10. [...]
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