Today we’re going to talk a bit about how to set yourself up for success each and every day. It all starts with your preparation habits. Think about it like painting a room in your house. The prep work is the most critical and time-consuming part of the project; taping, laying tarp, priming, picking colors, getting the right brushes and rollers. The more prepared you are, the easier the actual painting is. The same goes for trading.
What I’m about to say might be a difficult concept for many people to understand or accept, but in this day and age, we are not just traders anymore; we are all risk managers. As Coach Hoag says, “money is easy to make, easy to lose, and very difficult to keep.” If you have trouble managing your money, then making more of it really won’t help you in the long run.
It’s that time of day. You put in the time to prep for the trading session, you did the work trading, but there’s still one thing left to do before you shut off your screens. The closing bell doesn’t mean that the day is over; now is the time to reflect on your performance.
In part one of our Coach T Prep–Trade–Reflect™ series, we talked about the importance of establishing a well-rounded routine and having an optimized trading plan before you start the trading day. Now we’re going to take things a step further and talk about how the TraderIQ Trading Plan in the Topstep dashboard can benefit you in your journey to becoming a professional trader.