Tuesday, September 27, 2011

Practical Application of Dr. Brett's books

There was a post I read somewhere recently that said a beginning trader prioritizes the components of trading in the following order:

1) The system / methodology
2) Money management / risk management
3) Psychology / mental game

However, the experienced and successful trader ranks importance in the following manner:

1) Psychology / mental game
2) Money management / risk management
3) The system / methodology

Unfortunately, I can't properly attribute and give credit to the source, but I totally understand the flip-flop of importance from the experienced trader's perspective (can't say "successful trader" yet).

So in the coming weeks, one area of focus will be to put the work of Dr. Brett into practical application to improve mental game.  There are a lot of great examples and exercises in his books, but it's one thing to read about theory and another to put it into actual use.

I will give it my absolute best efforts, discuss what I'm doing here, and then track to see how it impacts my P&L over time -- the ultimate scorecard.

No comments: