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94 A TRADER’S MONEY MANAGEMENT SYSTEMA2.If you feel that record keeping is overwhelming, then you will need to
break it down into small steps so that you can successful accomplish
each step one at a time. Do not attempt to tackle the entire job at once;
use baby steps.
A3.If you have tracked results before and it didn’t seem to help your profit
performance, then possibly the record keeping system wasn’t geared
toward identifying the right statistics. Give the program in this book a
chance, and see if the suggestions here might enable you to get insight
into how you can improve your profitability.
A4.If you are not typically an analytical person, meaning you are more of
a right-brain thinker, then maybe there is someone you can delegate
your record keeping to. It is common for traders to have a partner,
wife, husband, or employee who does their accounting. Brainstorm
and determine who might be the right person for the job. This way,
you don’t get paralyzed by having to do something you hate to do, or
are not good at doing.
A5.If you are psychologically uncomfortable with facing information that
tells you about losing trades, then you most likely have not fully devel-
oped your trading psychology and the trader’s mindset. This is an area
you will want to focus on going forward. In the meantime, it is crucial
that you power through and, like Nike says, “Just do it!” Just force
yourself to do the numbers. This in itself may enable you to improve
your psychology and profitability.
A6.If you are psychologically uncomfortable with facing information that
you have winning trades, you have not fully developed your trading
psychology and the trader’s mindset. Just as with A5, this is an area
you will want to focus on going forward. In the meantime, it is crucial
that you power through and just do it!
A7.If you believe that record keeping is not going to be helpful in generat-
ing greater profits and that your time would be better spent on finding
a better trading system, then you need to read Chapter 3. Your current
belief system indicates that you have not fully developed your trading
psychology and the trader’s mindset. Again, as with items A5 and A6,
it is probably best for you to bite the bullet, stick with your current
system for now, and just do it! Just start record keeping and give it an
opportunity to prove that it has merit.I hope this list of questions and answers about possible hesitations to
incorporating a solid record keeping system will spark some thought in
your mind as to how to proceed. Ultimately, you will be better off with a
regular record keeping system. I urge you to confront whatever resistance
you may have so that you can start benefiting from this plan now.