Original subtitles

the next thing that you need to understand

here is the review process and so as a

developing trader even as a professional

trader there is something that you need to

be doing and that is reviewing every

single trade and so i have made this kind

of easy template that you can recreate in

excel in a google doc or if you want just

reach out to me and i'll send you a copy

of this template basically here is here is

the this is just the bare bones minimum of

what you should be doing when it comes to

trade review i see other developing

traders they think that looking at their

broker statement is trade review that is

not trade review it is more detailed than

that you need to be collecting pertinent

trade information that's just going to be

the date entry time exit time hold time

direction calls or puts if you're trading

options long or short if you're trading

futures the ticker that's going to be you

know whatever the the ticker symbol was

maybe it's spy maybe it's qqq maybe it's

es expiry this only applies if you're

trading options if you're trading futures

expiry does not apply same with dte that

means days till expiration so with options

we have a variety of different expirations

this particular course is not specifically

about options if if you need more

information on how to trade options check

out the options mastery course but dte is

days till expiration you want to mark that

on your trade review here entry and exit

is the entry price the exit price

contracts again this is just your sizing

position sizing so contracts will be

quantity position size will be dollar

amount and then pnl you want to know okay

did we make money what was the percentage

gain this is especially important if

you're trading options what was the pnl

dollar amount this pnl is different this

is going to be like how many points did

you capture if you're trading the index es

or nq now the daily setup is not something

that we actually need to be focused on at

this time it does not actually apply to

this particular setup to this particular

strategy so long as you are focused on

stocks and play or the index right the

intraday setup is always going to be pull

back to vwap we're only talking about a

pull back to vwap trade here right in play

once again if you're focused on stocks and

play there's always going to say yes

catalyst this particular column you can

ignore the most important column in all of

this is actually the notes section and so

what you want to be documenting here is

anything relevant that comes to mind about

the particular trade idea how it played

out were you shaking out did you not give

it enough room to run did you take profits

early any scenario anything that happened

with the trade that comes to mind that

comes to mind that is fresh in your mind

maybe you got faked out maybe you made a

mistake whatever it is whatever it is

about the trade you want to be documenting

that in the notes section of your template

you want to be capturing any type of

behavioral things that you may have done

with the play maybe you waited too long

for the entry signal and you actually got

a late entry what this allows you to do is

it allows you to start observing repeat

patterns in your behavior that are causing

issues with your trading this is going to

allow you to get better over time it's

going to allow you to improve your trading

over time we all every trader myself

included had or has some type of

behavioral trait that negatively impacts

our trading could be related to greed

could be related to fomo that's going to

come out in our actual trading behaviors

and we want to start to notice those

patterns it's not going to be immediately

obvious but it is something that over time

over a large enough sample size maybe you

know 60 plus trades 100 plus trades

actually logged here you're going to have

a good sense of okay here's what i do

frequently from there you can create a

rule framework to protect you to protect

you from yourself basically we create

trading rules as guard rails to protect us

from ourselves maybe you find yourself

over trading you could create a rule that

says only trade twice a day only take two

setups a day there's a very basic example

but it's the exact purpose of why we do

this entire activity now if you are

serious about extracting money from the

market on a regular basis then a trade

review process is required this is non

-negotiable it's not something that you

can maybe do i've never seen a profitable

trader that doesn't have some type of

review process and i know a lot of traders

and so take this seriously this is where

you're you're able to get extra reps

essentially we only get so much practice

that we can do in trading outside of

actually executing the trades by doing

this review process and kind of reworking

the trade idea and what we did in our head

and maybe areas of improvement that is a

way to get legitimate trading reps outside

of actually trading and so this is a very

very beneficial exercise that you should

be doing and it is only going to help it

is only going to speed up your learning

curve now this particular process should

be encompassed with the two hours that you

set aside that you have for your your two

hour trader allotment right and so it

doesn't need to be something that is

taking you hours per day but it is an

activity that you need to take seriously

and be doing you