What is Mind Metrics?
“Measure and report progress to someone else, daily. Pearson’s Law states that, “When performance is measured, performance improves. When performance is measured and reported back, the rate of improvement accelerates.” Simply tracking what you’re doing creates awareness. This awareness empowers you to make the changes you want.” Dr.Benjamin Hardy PHD, organizational psychologist.
Mind Metrics is an app that helps you discover how to separate your method from the madness by measuring what matters.
I am going to repeat this phrase because it is the foundation of Mind Metrics. You are going to improve your execution by measuring what matters.
By the time you have completed this training you will not only understand but more importantly directly experience the power of applying the Mind Muscles techniques to both your day-to-day trading, and as a bonus, your life in general.
Throughout this journey, you are going to complete your own Mind Metrics application each day, and it will show you exactly where you are making progress and where to focus your attention. You will now discover how to quantify your internal state by expanding awareness of your sensations, emotions and thoughts within the Mind Metrics application.
Through this process of tracking and analyzing your S.E.T. scores, you will finally have a clear and concise step by step processes to manage your trading based on your own internal state. Over time, the tracking of this data will help you to know how you are likely to perform, before your trading day even begins.
You can then use this information to determine when to trade, and when to either sit out, trade lighter or adjust your internal mindset before trading.
You have already learned about Lousy and Lucrative trade analysis in the Compass course. The Mind Metrics application shows you how you can develop a clear and concise process for separating the trades that are executed according to your own plan from the trades that are impulsive, not executed well, or exited prematurely.
You can now differentiate the performance of your model from your behaviors. The benefits of this exercise are multifaceted.
1. First of all, it reveals the highest potential of your trading method.
2. Secondly, it supports celebrating your ability to trade the plan and focus on the long-term outcomes.
3. Finally, it gives you clear and concise feedback on where your energy is best spent for your immediate improvements.
Next, Mind Metrics introduces a system of creating a routine. We always say that a big part of being a good trader is about separating the signal from the noise. We want you to be able to separate signal from noise, not only within the markets, but also within your own mindset.
Everything we experience has an impact on our trading performance. By cultivating a consistent practice of daily rituals, you can reduce the amount of variables in your life that adversely affect your trading. This can range anywhere from diet and exercise, to how you react to news. With this routine building exercise, you will learn how to reduce the volatility of both the internal and external variables. This process enhances your own self-knowledge, improves your edge and greatly enhances the quality of your trading experience in general.
Please download your personal copy of the Mind Metrics application. The next video will walk you through the application and will show you how your prior course work integrates into the Mind Metrics spreadsheet.
Here you will learn how to clearly prioritize your efforts in making changes in your behaviors that feel better and impact your daily performance.
In Compass, we recognize that although our destinations are all the same, the roads that we must travel to get there will all be different. Each and every one of us have our own unique set of discoveries on how we best perform.
With this in mind, you are able to join a step-by-step process and customize a road map just for you. This allows you to clearly identify where you are, where you want to go, and exactly the steps you need to take in order to get there.
Congratulations on taking each step towards your trading mastery!
About Your Instructor: Richard Friesen
Richard Friesen is the creator and developer of the innovative “Mind Muscles™” training process that turns the psychology of trading on its head. He works with financial professionals, independent traders, business leaders and entrepreneurs who want to expand their mental game to make more consistent profits. With indepth experience as a broker, floor trader, financial software developer and entrepreneur, he brings concrete real-world experience to his clients. Learn more about Rich here.