Yes, from my own experience I would recommend my current one the most : Panasonic RR-QR100 Digital Notetaker, price these days not too much anymore, maybe US$100. I like this notetaker, since it's very handy, compact, fits nicely into pockets (it's really got that format), weighs about nothing and stores hours and hours of information. Why a digital notetaker? I think by using a digital one I force myself to review and write down my notes after they've been made, so they don't get lost. If I used a tape notetaker, I'd probably just record the tapes and then not bother or procrastinate reviewing them, which is exactly what I want to avoid. I really think it's a matter of personal choice... I can strongly recommend it, though - Either way. Don't forget to still take written notes whenever you can, though... I always have sketchbooks and tally books and papers floating around my office, full of notes, logs, tallies and stats. My reason is that writing appeals to various representational systems: Kinaesthetic (touch, feel), Visual (seeing what you're writing), Logical etc. If you take an audible note, you will solely respond with your auditory senses. And only about 5% of people are in fact auditory (!), which means most western schoolsystems are still designed counterproductive to learning, since many things only involve people blaring at you. The reality is, 40% of people are Visual, 40% are Kinaesthetic, 10% are Auditory Digital (Logical), 3% are Olfactory (Smell) and 2% are Gustatory (Taste) oriented. So, if we want to apeal to the majority of people / senses, we need to address Visual & Kinaesthetic the most. Both are involved in writing. Conclusion, writing things down is scientifically proven as the currently most effective means of information absorption. I've just been through this extensively in another NLP prac course, so I'm pretty familiar with this stuff - Make sure you ask me before I forget it all... Scientist.
Well, the exact timing or amount of my stops wasn't the thing...but I am talking about not stopping out at $100.00. As in letting them run. This is the behavior I want to eradicate completely, because it makes such a difference in my bottom line results, as well as how I manage my energy during the trading day. My question was along the lines of how would one best rehearse new behaviors and reinforce them outside of actually trading? Kind of like a gym for an athlete, does anyone have any insight on this? Thank you.
Great thread bro... Keeping notes is something I keep on doing. It seems to work better than typing all the notes. Another thing that I read is that the sense of hearing reaches the brain and analyzes the information the fastest out of all the senses but also forgets the fastest out of all the senses too... In another words, a human brain reacts to sound the fastest. Anyways, regardless of kineasthetic and visual... Paper and Pen is best. Talk is BS.
i think it helps your discipline when you work out regularly after trading. having the discipline to hit the gym everyday translates into having more energy, sleeping better at night and you are more alert during the trading day. if you can be disciplined when it comes to your health, it can benefit your trading as well
I also record notes during the day. I use a Palm Pilot Tungsten. I can pick it up quickly and push a record button on its side to make a voice memo. At the end of the day I can sync with my desktop and move all voice memos from the Pilot to my Windows desktop where I can review what happend throughout the day. I can playback notes on the Pilot or inside the PlamDesktop under Windows. Each voice memo has a timestamp that makes it easy to review what was going on when I look at my charts later. I can record a lot of voice memos in 32mb or on extension cards. I used a 'checklist' to enter trades in the past. Now I am experimenting with using a 'voice note' that I will listen to before entering a trade. This helps me from getting fixated on one part of a trade. I am trying to create a 'paperless' trading desk while keeping a record of everything that is going on. Good trading, ramora
The real secret of progress is to find a CONCRETE mean to AUTOMATICALLY direct you into the good direction: it is your JOURNAL. It is so important that I myself asked a whole interface constructed around a calendar - but it is not finished yet - so that archive can be consulted rapidly. <IMG SRC=http://www.elitetrader.com/vb/attachment.php?s=&postid=338792>
I use forms, punch them and reverse chron them into three ring binders. I print out stuff too: charts, tables graphs. they get punched and chroned. I annotate as well. what scientist says about people, I agree with. I do the 40 +40 as SOP. Speaking aloud is a rule for me too. I got that from medical training as a way to practice SOP emergency medical procedures for attaining stabilization prior to ER. Screw ups have big downside. I "hear" what to do in my own voice. Same for market in high money velocity take downs. This puts me at 90% Makes theday work well. Attached is a landscape "Description" that is a killer. going to bar numeration is the nuts. 81 bars on the wall......lol.
I find it really useful. kind of autohypnotic 8- minute lessons dealing with discipline. Made by a good trainer in this field (not by this Jake Bernstein guy). Don't mind the tacky website, the product is good. http://www.directyourmind.com/tradingmind.html Have zero affiliation with them. Vienna
Great thread all! Thank you for sharing... Linda Raschke goes over the importance of logging everything into her notebooks in chapter 23 of the book Street Smarts. She says, and I quote: "The whole object of swing trading is to anticipate setups so that we are not in a reactive mode... Routines and rituals keep us in a steady frame of mind. They help us to focus solely on the task at hand..." I've found that sometimes, lack of discipline is really lack of knowledge. ie., knowing we are doing something wrong, but not knowing EXACTLY what it is... That is why I particularly like DbPhoenix's idea of having a list of common pitfalls, and ticking it during the day. The points with the most ticks at the end of the day/week are the ones needing the most attention. After a while, you will discipline yourself just at the mere thought of thinking of that tick on the paper, you will pinpoint your enemy and fight it face to face. Cool stuff. Keep it up. Loukas