(BQ) Part 2 book "A trader's money management system" has contents: Using trade posting cards and ledgers, using trade posting cards and ledgers, risk management rules to choose from epilogue, tracking profit and loss results and more formulas for success,.and other contents. | P1: PIC/b c11 P2: c/d QC: e/f JWBK182-McDowell T1: g April 25, 2008 16:14 Printer: Yet to come PART FOUR Record Keeping and Profit/Loss Analysis Chapter 11 Chapter 12 Tracking Profit and Loss Results and More Formulas for Success Using Trade Posting Cards and Ledgers 89 P1: PIC/b c11 P2: c/d QC: e/f JWBK182-McDowell T1: g April 25, 2008 16:14 90 Printer: Yet to come P1: PIC/b c11 P2: c/d QC: e/f JWBK182-McDowell T1: g April 25, 2008 16:14 Printer: Yet to come C H A P T E R 11 Tracking Profit and Loss Results and More Formulas for Success here are many reasons you’ll benefit from setting up a system to track your profit and loss results. Initially, discipline is the primary reason. The discipline you develop in your accounting of profit and loss results, and your other vital statistics, will transfer over into your day-to-day success. As you finely tune your trading machine by evaluating results, you’ll find that it’s easier to follow your trading system rules, you will become more disciplined overall, and there will be less doubt and more confidence in your trading system. It’s a perpetual process, and there are an infinite number of intangible benefits. T BENEFITS FROM MAINTAINING A CONSISTENT RECORD KEEPING SYSTEM There are at least ten benefits to maintaining good record keeping: 1. It adds discipline to your overall approach. 2. Confidence and awareness are increased in your trading system. 3. You can confront and correct losing behavior more quickly so you can take action to prevent risk of ruin, plus you will reduce any tendency for denial or avoidance of reality. 91 P1: PIC/b c11 P2: c/d QC: e/f JWBK182-McDowell 92 T1: g April 25, 2008 16:14 Printer: Yet to come A TRADER’S MONEY MANAGEMENT SYSTEM 4. You can recognize true winning behavior, as opposed to perceived winning behavior, more quickly so you can take action and duplicate your winning behaviors and techniques going forward. 5. The possibility of denial in trading .
