Dan Passarelli, CEO - Market Taker Mentoring

We're wrapping up the week with our final video. This week has all been on trading methodology. I want to talk about what's probably the most important step: learn from both your mistakes and your successes.

The best way to do that is to perform what I call a post mortem. Look at your trades after the fact and see what you did right, see what you did wrong, and see how you can improve next time. See why certain things worked or didn't work.

There's a number of ways to do that. Some people will look at their trades at the end of every day, especially if they're very active traders. You could just go to the monitor tab and pull up your trade list.

Then some people will look at them on the weekends, on a Saturday morning, having a cup of coffee and going through the trades of the week saying, okay, here's what I did right here, here's what I could have done better here. Some people who are a little bit less active, maybe your covered call traders; they might just look at it once a month or even once a quarter. But the important thing is that you do put forth this effort and do a post mortem so that you can continue to get better at your process.

That's the whole reason why you're watching these videos to begin with, isn't it? So that you can get better at your methodology.

So, hey, this has been a great week talking about methodology, and we got lots of great stuff to talk about in next week's videos.