It is important that I hold myself accountable for what I am doing. I am extremely hard on myself so it will be interesting to see how I grade my activity.
You can see on the scale below the best possible outcome is "GOOD" and the lowest rating is "PATHETIC". I anticipate spending a lot of time in "FAIR" and "BARELY ACCEPTABLE" territory.
This will mean that I am producing but there is room for improvement. Some of these ratings will be subjective due to the constantly changing trading environment.
Explanations of subjective ratings will be provided in the accompanying commentary. Please see the grid and notable points about the objectivity or subjectivity of the ratings system below:
Profitability: Measures both points captured and win/loss ratio. A GOOD rating requires a weekly profit of 20 points/100 pips per contract/lot and a win/loss ratio > 1.5/1. A fail rating does not neccisarily mean there was no profit. For example, I could rate myself "FAIL" for a profitable week while only capturing a very limited amount of volatitily the market offered.Execution: Measures consistancy of entrires and winning %. A "GOOD" rating requires and winning % of > 55% and consistent repeatable entries. The other ratings will be quite subjective. This will include consistent use of entry timing mechanisms and structural analysis.
Exits: Measures the consistency of exits and the volatility captured vs. premise of the trade. For example, if there are too many breaks evens that ended up being wining trades or if too much open equity is given back throughout the week, a lower rating will be given.
Time Management: Measures how I allocated my time towards the many different aspects of my business and personal life. This will be subjective but a "GOOD" rating will require my belief that I made significant progress toward my primary objectives and could not have done much more considering the tasks at hand that week. This will be measured Sat through Fri.
Energy: Measures the level of physical and mental intensity that I was able to maintain throughout the week. This will be affected by items such as proper diet, sleep, motivation, and physical conditioning. Measurement will be taken Sat through Fri.
Attitude: Measures my mental state Sat through Fri. It Will tend to be weighted to how I feel on Friday about the work week and my situation in general. This is not about being "positive". I tend to be negative and there is nothing wrong with that. It is about how I FEEL about my situation at this point in time. I suppose this is a lagging indicator of sorts but think it should be measured.
Workouts: Measures whether I physically worked out all week or not. I think working out is key to being successful and take it very seriously. It costs me hours I could be producing to go to the gym or jog. This is a trade off. Measurement will be strictly objective. I will not wax eloquent on the "quality" of the workout. Good = 5 days, Fair = 4 days, Fail = 3 days, Pathetic = 2 or less days. Minimum 45 minutes to count. Measured Sat though Fri.
Jog: I would like to run a marathon within the next year. I jog once per week outdoors for distance and do various indoor runs/intervals throughout the week. The rating will be based on improving either distance or speed over the prior weeks run/jog. BTW, I consider anything anyhting less than 7 MPH average per mile to be a jog and anything over that to be a run.
Diet: Measures the quality of my diet throughout the week. I believe in low caloric intake but love to eat Mexican food. I have significantly more energy when on a restrictive diet which leads to more productivity but it can be taken too far and cost productivity. The rating will be based on how I manage intake. Measured Sat through Fri.
I may make changes to this report over time as needed. I promise to keep it fair and consistent.
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