A short YouTube monologue (Kardec Trader) advising traders to treat trading like a business by rigorously tracking metrics, trades, and daily processes. The speaker emphasizes recording every trade’s rationale, stop loss, R-multiple, entries/exits, and daily pre-market plans to identify strengths and weaknesses and improve over time.
I'm a big believer on treating trading like a business. Now, if you have a business, what is one thing that you, as a business owner, should do? You should be tracking your expenses, tracking what in the business is going well, what in the business is going bad. If you want to evolve as a trader, you need to understand all your metrics. You need to understand what are areas in your trading that you are struggling with, that you are having a very difficult time with. The way to do that, in my opinion, is to track trades. Track every single trade you take. Understand what was your stop loss, what was your r multiple on the trade, why did you enter the trade? Why did you exit the trade? Track your days, look at your pre market game plan, what you actually did during the day, and then break down what the outcome of that day was.
