An outlier day is any day with data outside of our expected strategy’s return. In more common terms, it’s a day with outsizes negative results.
These days need to pay us. Not in return but in education. That’s what this form is about.
The point of a strong process is to remove these days. Let’s record the data and see what we get.
Let’s get paid!
I came into the day :
Describe what was happening in the market before things went sideways :
Describe what was happening in the office before things went sideways :
Did you have any inner feelings before things blew out? Any irritations, nervousness or negativity? Describe it below :
Describe your emotional state before the session went sideways :
Is there anything technically you could do to prevent this from happening again? Describe :
We’re you mentally distracted today and what did that look like :
Is there something you can do to mentally prepare for this kind of action in the market or your life?
These days happen.
Part of our job, perhaps the main part of our job is to mitigate the risk of ourselves. If you are able to hear what voice was influencing you during this time, you can be on the look out for it next time.
We will never out-strategy ourselves. We may also struggle to ever really control ourselves. All we can do is learn to listen to ourselves and know when we are at higher risk of ruin than is typical. When we record this data, we start to be able to see our patterns. We can grow to hear our agent of chaos speaking to us. The only thing we can do when this happens is, take a moment, walk away and see if we can diffuse the situation.
Our main goal is not to trade perfectly but simply to reduce or remove these outlier days from our data. That’s all. Then they begin to pay us with smaller losses that are easier to recover from.
Until then, we need to get paid in information about ourselves.
Good work. You are in the arena.