Holding Yourself Accountable

[james_gsx]

So is there anything we can do to push forward with this?

[james_gsx]

Heres a template I will be using tomorrow to fill out during the day, or during breaks throughout the day. I have some data that is important to my plan and my goals. Then I have a simple table where I can track my trades and log them in on Excel after the close.

[Soultrader]

Hi guys,

Ive been following this thread and wanted to seek your opinions. I would like to be able to provide a template system for traders here to plug in trades, notes, etc... which can be shown on our site. (either private or public) I also want to create a system where it will graph whatever you want to input.

Building the system should not take too much time. The questions I have is:

1. What sort of information would you like to input?
2. What template format do you prefer? Would you like to see automatic charts for the info you input?
3. Any ideas on how to add credibility to the posted results? Or should this be based on user honesty?
4. Would you like to see a progress/ranking system?

Any other thoughts and ideas on the template system is appreciated. Thanks

[brownsfan019]

	Quote:	Soultrader
	Hi guys, Ive been following this thread and wanted to seek your opinions. I would like to be able to provide a template system for traders here to plug in trades, notes, etc... which can be shown on our site. (either private or public) I also want to create a system where it will graph whatever you want to input. Building the system should not take too much time. The questions I have is: 1. What sort of information would you like to input? 2. What template format do you prefer? Would you like to see automatic charts for the info you input? 3. Any ideas on how to add credibility to the posted results? Or should this be based on user honesty? 4. Would you like to see a progress/ranking system? Any other thoughts and ideas on the template system is appreciated. Thanks

Going to think on this and then respond.

[Sparrow]

I suppose most of you have seen this already, Dr. Brett wrote a post about it today.

[brownsfan019]

	Quote:	Sparrow
	I suppose most of you have seen this already, Dr. Brett wrote a post about it today.

James - per this link and something Dr Brett mentions, take a look at this site - https://www.stocktickr.com/

[now123pivot]

I just saw this thread and am interested in holding myself accountable not just to myself (without any excuses) but also to my fellow traders here at TL. I like the idea of a spreadsheet which would list all of my trades and would distinguish between planned and emotional trades and missed trades (trades I should have taken in accordance with my methodology but which I didn't take because of fear of being stopped out etc).

In regards to Soultrader's questions #3, I reckon this system would have to rely on our honesty if we do not want to explain our individual trading plans in detail... and since this is something I would want to do to improve my results, if I post inaccurate results I only end up cheating myself.

I think James can mediate and introduce members since he's the most involved founder of any forums I've known.

[torero]

Here's my idea on how this can be done. It's been common in real life for a couple of traders to get together and rent an office to save $ and of course get rid of the boredom and loneliness, etc. So my idea is similar to this idea. A member here gets to pick or asks a 2-3 fellow members to be their confidence men where they can build up the close-knit communication and sign some sort of confidentiality or non-disclosure before passing out their statements. This means there should be no hiding behind the usernames but real names with real addresses, phones etc. I assume it takes time to build up the relationship but if anyone wants to get serious this is the only way to go to the next level. I think the sure way to tell if the member is committed is seeing how long he's been on the forum and how many posts he's made (optional because it doesn't really tell much the quality of the member but by seeing participation on a regular basis you know there's no gaps of interest to the forum).

But finding the right partner(s), there has to be similar trading styles, instruments etc in order to understand each other's method more or less.

I know this might be a bit much but hey, anyone wants to be profitable down the line, some risks have to be taken, wouldn't you agree?

How's this idea sound? Thoughtless or useful?

[james_gsx]

Torero, I like that idea since I believe it would add a lot of credibility and it would take the whole accountability idea to the next level. It also goes in with something I had jotted down, so here it is.

We could continue to use the community format, but have it broken down into private groups. That doesn't mean "Group A" or "Group B", but simply a network of people you trust. Therefore User A, could be in a network with User B and User D, but not User C. But User C could have both B and D. If that makes sense... This way the people you can work with could be unlimited, or as private as you wish. Some people don't wish to share a lot of their information with people, whereas others are more open about it.

On a day to day basis I used the template I posted earlier, and it worked out fairly well. There are a few things I would change, but I like the idea of journaling each trade, grading it, and having my P&L. From there, we could log it on the website or excel and have it automatically track basically everything. This way we could see what days we trade best on with each setup, how our overall performance is going, etc.

Then I took some of the ideas the trading blog had about the A-F system. I decided that the trader could grade himself on an A-F basis. He could use his overall trade grade, say a 4 for the day, to help determine his overall grade. But ultimately he could grade himself based on how well he saw opportunity, his emotion, or whatever else is bothering him. Then he could write down comments and possibly find patterns that affect his trading and immediately adjust/create goals to overcome the shortfalls.

[now123pivot]

I like the idea of forming groups of traders with similar methodologies (say, MP, fibs etc). I had suggested starting a PalTalk room for people who use JPerl's VWAP methodology but didn't get many people that were interested...