A checklist of steps to take can benefit analysis, so MoneyShow's Tom Aspray proposes a checklist of six steps that should help both traders and investors have a more successful 2015.
As 2014 draws to a close, it is important for traders and investors to make preparations now so that they can be prepared for a successful 2015. As I have stressed in over 170 trading lessons and over 2000 online articles, it takes a disciplined and a systematic approach to be successful in the markets.
In this week's trading lesson, I would like to propose a checklist of six steps that should help you be more successful in 2015. I feel confident that-if you look at your trades at the end of 2015-some of the losing trades will be a result of you not following this checklist.
The checklist items are geared, not only to each and every trade, but also how you manage your schedule during the trading year.
The first step is one that you should take at least at the end of every year and probably at the end of each quarter. This is to review all of your past trades with special emphasis on your largest losers, even though it can be unpleasant as no one likes to re-live their mistakes.