Data Collection : 6 Step Formula

Step 1 : Journaling your Emotions:

• At the end of each trading day, jot down the predominant emotions you felt.

• Make a note of significant market events and how you reacted to them
emotionally.

• Review the journal weekly to identify patterns in emotional reactions and their
impact on trading decisions.

Step 2 : Emotional Intensity Scale:

• Rate the intensity of your emotions on a scale of 1-10 daily. This helps in
understanding how strongly you're feeling particular emotions on certain trading
days.

Step 3 : Trigger Identification:

• When jotting down emotions, also note what triggered them. Was it a market
downturn? A piece of unexpected news? By recognizing these triggers, traders
can better prepare for similar situations in the future.

Step 4 : Feedback from Peers:

• Discuss your trades and emotions with trusted trading peers. They might offer an
outsider's perspective on whether your decisions seem emotionally driven.

Step 5 : Reflection & Analysis:

• Periodically, review the emotional data to recognize patterns. Are there specific
market events that consistently trigger strong emotions? Is there a correlation
between certain emotional states and unwise trading decisions?

• Use this reflection to adjust your trading strategy and emotional management
techniques.

Step 6 : Decision & Change:

• Daily, Weekly and Monthly Intention, this part
is up to you. However, acknowledge that
it will be a journey of trials and errors and that is okay.