Behavior & review

Same framework, different outcomes—behavior is the gap. Name biases, log decisions, store lessons.

Structure

Doc	Contents
Biases	Common biases, signals, counters
Decision journal	Trade log and review cadence

Why a separate chapter

Backtests assume rational agents; live trading hits:

• Selling winners too early (disposition effect)
• Holding losers too long (loss aversion)
• Chasing themes (FOMO)

Without logs you cannot tell bad strategy from failed execution.

Review cadence

Period	Task	Time (rough)
Weekly	Scan for impulse trades, #emotion tags	15 min
Quarterly	Macro tier, sector theses, weights vs limits	1–2 hr
Annually	Return attribution, biggest mistakes, rule changes	Half day

Loop with principles

flowchart LR
  F[framework checklists] --> A[Action]
  A --> J[journal]
  J --> R[Review]
  R --> B[biases]
  R --> F

Change hard rules sparingly: at most 1–2 per year, with written reason.