Lessons Learned, 04/06/08
Lessons are learned from losing; winning is the culmination of lessons learned.
Examples:
-
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
quadrants,
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.