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The Minefield Page

Decide how the week goes wrong before it starts.

CPI, FOMC, NFP and an election, all inside a few days. Some weeks are a minefield, and I built this exercise as a reference point for them. You write down where you're most likely to fail while it's quiet, then turn each failure into a rule you can follow when it isn't.

About ten minutes. Free, no sign up, and it works on screen or on paper.

Educational exercise only. Not trading advice.
At a glance
Do it on a quiet Sunday.

Five short steps: name the week, picture the failure, write it up, turn it into rules, then review on Friday.

10 minutes Free Printable No sign up

Why it works

Four ideas from behavioural research. Each one does a different job inside the exercise.

Prospective hindsight

You find more ways to fail when it has already happened.

Gary Klein's pre-mortem asks a team to assume the project has failed, then explain why. In the research behind it, people who imagined an outcome as already fact came up with around 30% more reasons for it than people asked what might happen. More reasons on paper means fewer surprises on the day.

Hot and cold states

Make the rules while you're calm, not while it's moving.

Loewenstein's work on hot-cold empathy gaps shows that people in a calm state consistently underestimate how differently they will behave once they're emotional. A candle ripping against you is a hot state. A quiet Sunday is a cold one. Decide in the cold, then hand the decision to the hot.

If-then planning

A rule with a trigger beats an intention.

A meta-analysis of 94 studies found that "if X happens, I will do Y" plans had a medium-to-large effect on goal achievement compared with simply intending to do the thing (d = 0.65). The trigger is decided in advance, so in the moment you're executing, not debating.

Action bias

Standing aside has to be a move you're allowed to make.

Elite goalkeepers facing penalties almost always dived to one side, even though staying in the centre stopped more kicks. When something big is happening, doing nothing feels like failing. Writing "flat is a position" into your rules takes that pressure away before it arrives.

The exercise

Work top to bottom. Your answers stay on this device and are never sent to us.

Name the week

What week is it, and what's in it? Tap everything that applies.

Declare failure

It's Friday evening and the week went badly. Not unlucky, your own doing. Tap the ways it happened. Be honest, this is only for you.

Write the entry, in the past tense

Write it as if it has already happened. What did you do, in what order, and what did you tell yourself at each point? Three or four lines is enough.

Turn each failure into a rule

Every failure in your entry becomes an if-then rule. The "if" is the trigger you'll notice in the moment. The "then" is the action you've already decided on.

Stuck? Starter rules to edit

Tap one to add it, then change it to fit your own plan. These are examples of the format, not recommendations.

Keep it in view, then review on Friday

Print it or leave this page open beside your charts. When the week is done, come back and answer these two questions honestly.

Event-Week Calendar

Get the Event-Week Calendar, and a heads-up before the big weeks.

Every high-impact week to year end in one place: the dates, the UK times, and the weeks that run thin. I'll send a short heads-up before the big ones with this page's link, so you do the exercise before the week, not during it.

FOMC, CPI and NFP dates UK and ET times Thin-liquidity weeks Add to your calendar

Double opt-in: confirm from your inbox and the calendar is waiting on the next page. You'll also get the Monday market read. Unsubscribe anytime.

Continuum Community

Weeks like this are what the Community is for.

Inside, we work through event weeks together: the market context, the process work, and exercises like this one that keep you following your own rules when it counts. If you'd rather not do it alone, come and have a look.

The research behind it
  • Klein, G. (2007). Performing a Project Premortem. Harvard Business Review, September.
  • Mitchell, D. J., Russo, J. E., and Pennington, N. (1989). Back to the future: Temporal perspective in the explanation of events. Journal of Behavioral Decision Making, 2(1), 25-38.
  • Loewenstein, G. (2005). Hot-cold empathy gaps and medical decision making. Health Psychology, 24(4S), S49-S56.
  • Gollwitzer, P. M., and Sheeran, P. (2006). Implementation intentions and goal achievement: A meta-analysis of effects and processes. Advances in Experimental Social Psychology, 38, 69-119.
  • Bar-Eli, M., Azar, O. H., Ritov, I., Keidar-Levin, Y., and Schein, G. (2007). Action bias among elite soccer goalkeepers: The case of penalty kicks. Journal of Economic Psychology, 28(5), 606-621.