The idiot trader

idiot traderThe idiot trader has no sense of process.  It’s all seat of the pants and randomness.  The enlightened idiot trader talks about “following my process”, but cannot produce a detailed flow chart of what they do and why they do it.  That is because, for the enlightened idiot, process is merely a code word for engaging in some general routines.

The idiot trader keeps no journal and has no structure to his or her reflection.  The enlightened idiot trader keeps a journal and writes down all of his or her mistakes and frustrations, but never transforms those observations into concrete goals, plans, and commitments for change.

Brett Steenbarger

Igor Marinkovic

Electronic engineer, futures trader and property investor and total beginner in making good web sites