How to identify, target and correct your most expensive trading mistakes.
Use Mind Metrics to learn where you're making the most critical errors, when and why you're making them, and how you can stop.
Measure what matters!
you can change
what you can measure
Making the same costly trading decisions over and over means you'll keep getting the same unsatisfactory results.
Do you experience any of the following repeating behavioral patterns that hamper your success?
- Fear of pulling the trigger
- Letting losses build
- Cutting winners short
- Impulse trades
- Revenge trades
- Ruled by emotions
- Jumping from system to system
- Low strategy confidence
- Afraid to lose money
- Make it slowly, give it away quickly
- Need to be right
- Anger at the market
- Missing good trades
- Over trading
- Stress
- Feeling stuck
- Lack of discipline
- Self sabotage
What would your P&L look like with none of those issues?
Measuring What Matters
Those new to trading are looking for a way to become consistently profitable traders. Veteran traders at all levels are interested in increasing trading profits and decreasing trading losses.
Measuring the things that matter to your trading bottom line and using that information to make steady, incremental changes can mean the difference between a long fulfilling career or side gig trading the markets with grace and confidence; or slowly bleeding out or even flaming out yet another margin account - and perhaps quitting for good.
We have discovered a great deal from decades of real experience and research on the impact of metrics and measuring what matters.
When I first started trading on the options floor of the PSE, I was lost.
There were so many things to learn and it was difficult to know what mattered. It seemed at first that EVERYTHING mattered and I would never learn it all.
The markets are complex adaptive systems with multiple feedback loops that impact millions of participants who in turn impact the market activity. This continually adapting system creates a lot of information, almost all of it irrelevant to active traders.
In trading, real patterns come with a lot of noise also!
These can come from thousands of sources such as unexpected news, margin calls, central government interventions, emotional reactions, a shift of player intentions and just random patterns that are created without the underlying drivers and follow-through.
You can't control the information coming at you, but you can stabilize your brain to filter out the noise.
When you have clarity about what is signal, then you are able to measure what matters vs. the madness of the markets.
you can change what you can measure
The more precise the metrics we create for ourselves as traders are, the more meaningful our window to reality really is.
If we have multiple variable inputs that are all in the same feedback bucket, then our picture of reality becomes muddled. The pattern recognition part of our brain is very powerful when it receives accurate and relevant information to feed and improve our intuition. This is why we developed the concept of Mind Metrics, which measures what really matters for the independent trader.
But without a clear feedback loop, we will tend to repeat the same trading errors over and over again.
The financial markets provide us an almost infinite number of metrics. It is tempting to organize those metrics in infinite ways. These metrics are very enticing because we can pretend that we are moving towards precision and perfection. But like the siren song in Greek mythology, they lure us away from the metrics that really matter.
Using Mind Metrics you can now differentiate the performance of your model from your behaviors.
The benefits of this exercise are multifaceted!
1. First of all, it reveals the highest potential of your trading method.
2. Secondly, it supports celebrating your ability to trade the plan and focus on the long-term outcomes.
3. Finally, it gives you clear and concise feedback on where your energy is best spent for your immediate improvements.
Next, Mind Metrics introduces a system for creating a routine.
Everything we experience has an impact on our trading performance. By cultivating a consistent practice of daily rituals, you can reduce the amount of variables in your life that adversely affect your trading. This can range anywhere from diet and exercise, to how you react to news.
With this routine building exercise, you will learn how to reduce the volatility of both the internal and external variables. This process enhances your own self-knowledge, improves your edge and greatly enhances the quality of your trading experience in general.
We always say that a big part of being a good trader is about separating the signal from the noise.
We want you to be able to separate signal from noise, not only within the markets, but also within your own mindset.
you can change what you can measure
Mind Metrics Curriculum
you can change what you can measure
see what others have to say
You're in good company...
Before I started Boot Camp, I was all over the place. Jumping around looking for the special thing that was going to help me. Since working in the Boot Camp I now have a better perspective. I understand what it takes to be a successful trader and where I am in that process. I am now more focused, I have a better idea of what I need to do in trading and in life. I also appreciate the group support, having been a lone trader. My thought process is getting better. The Mind Metrics and the SET scores were helpful. I continue to apply them and get better. I have gained a deep respect and admiration for Rich.
-Tom S. Boot Camp/Mind Metrics
"Dear Rich, as you suggested I am journaling my fearful thoughts while trading. This is a behavioral pattern of mine that makes me uncomfortable – a physical/mental anxiety I am going through during my trades particularly when I am about to reach my target. With just one class if you can bring this change, what will happen to me by the end of this course !!!! Just by thinking I felt more excited, thrilled and looking forward to complete all modules and exercises and carry your suggestions everywhere (beyond trading) for the rest of my life."
-Suresh V. Mind Metrics/SET Journal
I have successfully finished the homework you assigned me. I have attached two spreadsheets. One that show my P&L and the other that shows the "Trade Awareness Journal." After several losing days at the beginning of October, I then started to improve significantly. If you look at the journal you will see strong improvement in my thought process. I can now relax when I don't have clear signals to enter the market. I have switched off the P&L on the top of CQG. I now need to only look at the results after the trade. As a result, most recently, I have had only profitable trading days. Thanks Rich!
-Erika H. Explorer
What Rich's floor traders said...
When you have clarity about what is signal and what is just noise, then you are able to measure what matters vs. the madness of the markets.
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RICH FRIESEN FOUNDER
MIND MUSCLES ACADEMY