Continuous Improvement: How It Works and How to Master It

KCalhoun said:
I was a TQM consultant for years.. challenging
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Subsequently, the Japanese came up with TPM.
 
Best process improvement tool I used with teams is flowchart... good for troubleshooting trading as well.

Right... I met Deming once when Ford brought him to whq
 
Most traders are fixated way to much on their daily PnL when it should be on self analysis. Small constant improvements over time = dramatic change.

I stumbled on this video - this is some good out of the box advice from an 8 digit trader.

 
comagnum said:
Most traders are fixated way to much on their daily PnL when it should be on self analysis. Small constant improvements over time = dramatic change.

I stumbled on this video - this is some good out of the box advice from an 8 digit trader.

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Taking a smaller loss than usual might increase your EV and taking a smaller gain than usual might decrease your EV.

Great little talk.

PnL is the least informative metrics. Might be better to talk in terms of points but they alone don’t take into account the volatility (Daily Range) nor the MAE and MFE (Open PnL).

Guess the best traders take the most of the daily range vs give the least daily range wise …

If you made 120% out of the daily range while risking 20% of it then congrats to you :cool:

But yeah profitability is +EV so to become better is to increase our EV.
 
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… Thinking about …

What underlying did you trade ?
Why ? Why not ? Grade (0 to 4)

Where did you plan to enter / exit ?
Why ? Why not ? Grade (0 to 4)

When did you plan to enter / exit ?
Why ? Why not ? Grade (0 to 4)

Stacking the odds
Grade (0 to 12):

…

How did you trade the plan ?
Why ? Why not ? Grade (0 to 4)

…

Hints for further improvement
-> Worst Grade -> Reason

How could have I earned more ?
How could have I lost less ?
 
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