I often get requests from traders in our Futures Tryout asking us to delete their prior trade history from Tradervue. They haven’t performed well, and mentally want a “fresh start.” I promptly respond with, “No way Jose!”
Why? I think this is a big issue that relates to a common hurdle to getting better as a trader… avoiding discomfort!
There are several things to be gained from keeping a consistent trading log:
- Track results over time to get a sense for performance, drawdowns, what’s working, and what’s not
- See where you used to be as you progress and grow
- Stare your crappy crappy trade results right in the face! You need to acknowledge what you are currently capable of.
One of my favorite stats to track is MAE/MFE data on a rolling 30-trade sample size, over time. This is a powerful metric to see edge (or lack thereof), timing/entry efficiency, overall risk/reward you’re seeing, any outliers from poor risk management, and more. Watch how these two metrics evolve over time to get great insight into your own performance.
If your results are not where you want them to be, do yourself a favor and don’t delete them! Stare that honest reality right in the face, take responsibility, and find concrete steps to improve incrementally. Then watch those stats climb higher!
Trade well,
Merritt
*No Relevant Positions
