HOW TO TRADE A SMALL ACCOUNT

4. Trading a model that doesn't work

Time and expense are usually the perpetrator with this costly saboteur.
The perfect analogy is buying something that doesn’t work when you’ve
gone shopping just so you haven’t wasted your time. The trader thinks
about how long it took to learn the system, or the investment, often in
the thousands, that was made to purchase the model. The solution is to
buy a proven system from a demonstrated expert, and get the support to
correctly learn and implement the model swiftly.
5. Not thoroughly reviewing trades and accompanying charts
Let’s face it; it’s much more enticing to trade than to review trades, but
the reality is that successful trading comes from reviewing what you did
that worked, and doing more of it. It’s that simple. Without consistent time
dedicated for review, this can’t be done.
Take time to review each trade; this is your money, and your business.
Write the answers to the following questions in a log:
What worked?
What didn’t work?
What were the indicators doing?
What time of day was the trade made?
Why was the trade placed?
Why was the trade exited?
Could a slight tweak have made the trade more profitable?