Mark douglas talks about the profit gap. How much money we should be making had we followed our trading plans flawlessly compared to the actual results we get. So i am starting this journal to keep track of my own profit gap. Ideally this should be close to zero as possible. Sometimes over the short term the profit gap can go positive, undisciplined trades can often be profitable. However this is only storing up trouble for the future and those profits tend to be given back plus some.
Had i followed my trading plan today, i would have made about £400, instead i lost £300 today. Profit gap of £700 today. Reason: i couldn't just sit and do nothing and wait. Had to be doing something. I took all the trades from my trading plan and these trades were net profitable, however i took a whole load of nonsense trades which took me negative for the day. ie. Trading like a f*cking newb, with no discipline to sit and wait.