Last update: August 2021
You might’ve asked yourself at a certain point: “How should I start to make this trading activity a business?”
Begin by having a clear routine and well-defined procedures for everything.
- Organization is optimization.
- Organization is efficiency.
- Organization is key.
That is why we put together this 3-part series on Trading Business:
- Organization is Key Part 1 – Trading Business
- Organization is Key Part 2 – Business routine
- Organization is Key Part 3 – Trading Journal
Unless you’re a machine, you will need to be organized if you want to prosper beyond the threshold: that moment where you can’t do anything more than you’re doing without getting overwhelmingly smashed.
Invest a good amount of your time creating ways to get more efficient. Don’t be a fan of unnecessary tasks or redoing work just because. Prefer the no-brainer, easy-breezy, smooth way of processing information. A dose of organization will help you on that.
If you’re not organized, you won’t get practice time. Understand that practice is also key to develop a successful trading business. Here are some basic questions you should be able to easily answer:
- Is there any risk of assignment?
- Which positions show a profit?
- Which positions show a loss?
- Are there any contracts that must be rolled (up/down/in/out)?
- Is my system bias in accordance with the market bias?
If you are already placing trades, even if they are not part of a system, and you can’t answer with confidence any of these questions, we strongly recommend you to start thinking about organization.
Chart of the Day: Folders on TOS (Thinkorswim)
Have you ever thought about organizing your trades in folders on Thinkorswim? You can organize them by systems, by strategy types, by market bias, whatever way you see fit to make yourself and your trading business more organized.
As far as organization goes, simple things can operate miracles.
Tackle Trading Resources on Journaling
Continue learning about this powerful trading tool: the Trade Journals. Tackle Trading has all the resources you need to MASTER them like a PRO. From the Trade Journals themselves to free articles and tutorial videos on how to make the most out of them, we got you covered!
Trade Journaling for Beginners [Free Articles]
How to use the Theta Research Tool to find the best stocks for Cash Flow
In this video tutorial, Coach Matt goes through the latest edition of the Options Research Spreadsheet explaining how to use it to find the best stocks to cash flow.
How to use the Theta Research Journal to find cashflow candidates
In this video tutorial, Coach Tim teaches how to find the best candidates to trade cash flow options strategies using Tackle Trading’s Theta Research Journal.
Tales of a Technician: Journals, Systems and Discretion
Once upon a time I didn’t use a trade journal. Then I got smart.
Trade Journal Series: How to use the Theta Research to find Covered Call candidates
In this video tutorial, Coach Tim Justice teaches how to find the best candidates to trade the Covered Call options strategy using the Theta Research tool.
Trade Journal Series: How to use the Trade Journal
In this video tutorial, Coach Tim Justice will teach you how to use a powerful trading tool: the Trade Journal.
The Day I Discovered the Wheel: Backtesting
For all of you, who just like me, felt insecure about a certain strategy, and how to apply it, I have one thing to tell you: BACKTESTING!
Tackle Today: Organization is Key Part 1 – Trading Business
You might’ve asked yourself at a certain point: “How should I start to make this trading activity a business?”
Tackle Today: Organization is Key Part 3 – Trading Journal
A Trading Journal is not something superfluous. It is crucial. Continue reading.
Notes from a Newbie: The Trade Journal is your friend
The trade journal is your friend, use it!
Options Theory: Size Matters
Do you have consistent position sizing and are you tracking your trade stats? If not, then here’s your invitation to start.
Friday Feature: Habits of a Wealthy Trader – Part 2: Journal Your Trades
You need to treat journaling as a fundamental step in your data and behavior analysis to help you succeed.
Tackle Today: Organization is Key Part 2 – Business routine
Like any other business out there, your trading business must have a routine. Continue reading.
Women in Trading – Journaling
Journaling: I know based on my own experience that it is the most dreaded topic when it comes to trading, yet it is an important part of a trader’s journey.
Financial freedom is a journey
Sign up now and gain unfettered access to all of the quality content and powerful Scouting Reports that our Pro Members enjoy for 15-days absolutely free with no strings attached and let us show you what your trading has been missing.
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One Reply to “Tackle Today: Organization is Key Part 1 – Trading Business”
very helpful. Maybe you could also explain where to go on Thinkorswim to organize the trades.
Thank you Jessica
Comments are closed.