Lessons Learned, 04/06/08
Lessons are learned from losing; winning is the culmination of lessons learned.
You miss a fork on a rook and lose a chess game but you realize that "What's the threat?"
and "How did the position change?" are both questions that radiate outward from the
single piece that moved; scanning the board gains an important and efficient focus.
Needing more time forces you to break a to-do list into
and you realize that you can skip all the non-important stuff,
freeing time for
the important things.
- Your P&L drawdown and series of losses leads to a re-examination of the methodology (either quantitatively or through additional practice) which leads you to new insights, researches and methodologies.
Conversely, lessons learned result in:
- A chess game you win with a beautiful rook fork because "What's the threat?" and "How did the position change?" have become second nature.
You're getting more done in less time and realize that only
the important things count towards 'more'.
- You find that your old trading methodology was sound (and you can confidently keep trading it), but that on certain days you can interpret the same signals just a bit differently resulting in a new set of trades.
Lessons are learned from losing; winning is the culmination of lessons learned...
...and a lot of practice.