🔵Phase 1 — Thesis Evaluation
Start by separating analysis quality from trade outcome.
Key characteristics:
- •Was the original idea valid?
- •Did the market behave in line with the pre-trade thesis?
- •If the idea was wrong, what context was missed?
- •If the idea was right, shift attention to execution and management
🟣Phase 2 — Execution Assessment
Review whether the mechanics matched the plan.
Key characteristics:
- •Did you enter where planned?
- •Was the stop placed at a true invalidation point?
- •Was the position size appropriate?
- •Did impatience or hesitation distort the trade?
🟡Phase 3 — Management Review
The middle of the trade often reveals the biggest process leaks.
Key characteristics:
- •Were partials or exits planned or reactive?
- •Did stop changes tighten risk or widen it?
- •Did drawdown trigger emotional decisions?
- •Was the trade managed in line with the original thesis?
🔴Phase 4 — Process Score the Trade
A high-quality process can still lose money. A poor process can still produce profit.
Key characteristics:
- •Grade the trade on rule adherence, not only P/L
- •Separate lucky outcomes from good execution
- •Track process quality over a larger sample
- •Use the score to guide future adjustments
Process grading is often more useful than focusing on one isolated result.
🟢What Post-Trade Review Should Produce
Every review should end with one specific lesson that improves the next trade cycle.
Key characteristics:
- •One thesis improvement
- •One execution improvement
- •One management improvement
- •One process rule to carry into the next session