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I won't lie though, I don't use it as often as I should. |
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I've been thinking about this alot lately. Really, from what is posted in this thread we all basically know what should be done but its more a question of just doing it. I think part of the problem comes though from keeping things inside the computer. The computer can do alot of great things but for other things it seems kind of expendable compared to the physical world.
If someone doesn't stick to their plan and makes dumb trades I don't see how you can replicate a face to face meeting and the shame of messing up on the computer, especially when you have never met the person.
A journal in a blog is a pain to deal with. To me just having Word open is so much more effecient. Then you still run into the computer problem though with things being expendable so you miss journaling days and just get lazy.
Some ideas I've had to combat this are buy a couple of dry erase boards and write down everything that needs to be done the night before for the next trading day. I would think having it in front of your face in physical form is more motivational than having text on a screen that can be instantly saved/changed/deleted. Same thing for a journal. Instead of posting a blog or keeping a word doc that can be saved/changed/deleted, each day write things down in word. Then print out a hard copy but don't save the word document. You have one chance to write things down and thats it. Its kind of like how if you were keeping a journal with pen and paper, your not going to leave a blank page in a notebook to maybe go back and fill it out next week. With a computer you basically have an infinite amount of blank pages that can be inserted in the journal, thats no good as far as enforcing discipline.
I really don't see how even a virtual trading group would work. Everyone would be doing their own thing, with their own money, on their own timeframe all without every actually meeting eachother. The only solution I can see is to either find local traders or try to teach someone to trade who can actually be physically present.