Introduction to ‘notepad mistakes’

As a continuance of my post on ‘learning from mistakes,’ I thought that I ought to share some of the mistakes I’ve made (and occasionally continue to make).

We pay a lot of money for our mistakes, so we may as well learn as much as we can from them. I would like to think that ‘once’ for each error would be sufficient, but no, daft as it seems, I can make similar mistakes many times over.

The best way for me to learn was to write out the mistake, and the lesson it provided, on a notepad. At least that way I’m acknowledging and taking responsibility for the error and, hopefully, I will refrain from repeats.

Such posts we call ‘notebook mistakes’. There may be some lessons here for others (albeit I wouldn’t expect the Slow Trader fund investors to gain solace).

The mistakes are based on short-term trading with a price action bias. However, they are broad in context and may apply equally to any trade duration or system.

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