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Here is a simple scheme for making yourself better as a trader month by month:
 
1)  Review your trading for the month.  Keeping statistics on your trading is an excellent way of doing this.  How many winning and losing trades did you have?  What were the average sizes of your winning and losing trades?  How did your largest winning trades compare with your largest losers?  What ideas were responsible for the winning and losing trades?  
 
2)  Identify the one thing you did best during the month and identify the one thing from the month that you most need to improve.  That means comparing your best and worst trades and/or your best and worst trading days.
 
3)  In the spirit of FIGS–focused, intensive, goal setting–identify the one thing you’ll do each day to do more of what you did best and correct the thing you did worst.  This has to be a daily plan that you will tackle each trading session and that will involve building on your strength and addressing your weakness.
 
4)  Keep a daily report card of how well you accomplished the two goals set for the week and how you can extend your progress the next day.
 
5)  Repeat this process, setting new goals, each month.
 
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  • Create a plan that reflects your personal values and vision - stop building someone else's dream!
  • Keep track of successes and failures. This is the ONLY way to get future success and minimize losses.  
  • Define your personal risk so you know how much to trade and when to pull the trigger on both sides of the trade.