4. Creative Documentation
Not everyone sees a benefit to documentation, but I believe one of the reasons I've been able to learn so quickly is because I record my knowledge and progress here on Food for Theta. Writing and presenting what I've learned in a creative way has truly helped to solidify each and every lesson over the years. I'm not saying you need to make a website or anything like that, but maybe a nice journal or scrapbook. Use screenshots, doodles, color, charts... whatever you like that makes creating it more fun and engaging. Trading is a business, and business gets tough. Creative documentation can give you a consistent sense of accomplishment through both good times and bad. It allows you to see how far you've come rather than dwelling on how far you have to go.
Other ideas for documenting progress:
- Spreadsheets: Some people, myself included, just like a good old-fashioned spreadsheet. If you enjoy making them, do it!
- Blog: You can use free services like Twitter, Tumblr, or Wordpress to post helpful links and record thoughts. They are quick and easy to set up and can be made totally private.
- Scrapbook: Find a nice journal or sketchbook to write in. You can paste clippings of charts, helpful articles, and track your trades, thoughts, and resources. You can sketch out chains of logic and strategy to sort your thoughts in a visual manner.
- Artwork: If you're really creative, maybe there are more abstract ways you can document your progress through works of art. Honestly, it'd be refreshing to see some more "right-brained" approaches to learning finance.
The most important part of documentation is that you do it consistently. It could be a daily, weekly, or monthly project. It doesn't have to be perfect or beautiful, and your thoughts don't even have to be 100% correct. You just need a way to look back at what you've done so you can see your progress in a tactile, critiqueable form. I'm not going to lie... it feels really good to have something you can show people and say "this is what I do" – something other than flashing numbers on a screen. Is this a requirement for success? Absolutely not, but it absolutely helps.