Since the last time I published my PnL, I've been trading daily and getting mixed results. I TRY to feel happy about winning days, and take a more conservative approach after losing days, to no avail. Once I realized that daily PnL no longer tells me anything I don't already know about my progress, I stopped caring about that figure at the end of the day.
I've known for a long time now that I need to see continual improvement in anything I do for me to want to continue to do it. Patience has never been one of my virtues. I know that trading is hard, but it can't be so hard that one can't expect to make quantum leaps in a year, or 2. And that's what I'm looking for: quantum leap.
I've stopped reading trading books, and I've stopped visiting all blogs authored by doctors, and any blog that attempts to educate. Ever since I started trading, I've hardly followed conventional advices regarding trading, and I had made money (Yes, I am aware that 2008 was a year that many made money thanks to the crazy volatility, but hey, has any one of them attributed their success last year to volatility?) So, I'm going to continue to assume that many who make a darn good living teaching others how to trade don't actually trade themselves, and therefore know nothing about the real world of trading.
What I've found is that the best traders are mostly unknown and QUIET (not that they don't talk, they just don't attempt to teach and preach and get paid for doing that). Celebrity trainers talk a lot of crap. They are uninspiring at best. Listen to them, you'll take 10 years to see progress, if you don't give up by year 5.
I'm quite done complaining. The thing is, it's not anyone's fault that I'm frustrated. I was writing to someone on my blogroll earlier today, telling her that I'm the kind that ran before I learned to walk (actually, I never crawled and was always carried around, and then at 20 month old, I got up to walk) - and that's the way I am, and who I will always be. I can't be happy unless I'm absolutely the fastest and the best.
And I know without a doubt that to be a great trader, the first thing that I have to do is get rid of 90% of the books that I have read on trading, and stay away from negative people.
Since I started last year, I've never had a break of more than 3 days in a row. So I'm going to give myself a short holiday, and the time to think things through.
And since I'm not going to be trading, I'm turning my comments on.
So, go ahead, call me a moron.
11 comments:
Moron.
I always do as I'm told.
Take a holiday, enjoy your holiday, the market will still be here when you get back.
The best thing you can do for your trading is to work at your own pace and don't rush yourself. It will come, and when it does, it will be fast enough to recoup the time spent learning.
Enjoy the R&R.
Enjoy! What's a few days off considering most of us will live ~28,000 days +/-? Answer: just 0.01% of your lifespan. :)
OK, you moron.
I am also the 'follow-the-instruction' guy.
Take it easy.
Moron...
Hahahah as if!!! Dont say things like that jules your posts are gold. I've taken the same approach - im sick of reading / doing courses - I find it gets me nowhere so I have stopped. The only thing I am doing now is trading daily, evaluiating my system, trying new things ect ect.
Hell I may loose a bit of $$ - however its wayyyyy cheaper than the amount i've spend on books / courses lol
Ohh and enjoy the holiday - make sure you say away from your terminal. Trading can be like a drug, you'll find it so easy to flick onto your trade platform and see what the market is doing.
P.T
I know just how you feel. I was there myself many years ago. If you haven't already seen it you may want to check out this post (which itself links to a second on the same subject):
http://carlfutia.blogspot.com/2009/08/here-is-first-of-two-post-by-fellow.html
We'll get there one day, no matter how long it takes, no matter how hard it gets, all I know is we'll be the 5% left standing.
Welcome back jules, you're right about negative people just do us harmed. Here's what I do, I don't even read negative email, don't even think about it. Instead I read supporting email over and over again about hundred times a day. That made me feel very good and my performance rocked!!!
:-) Thank you, all my old friends, and Carl (yes, Carl, I've read the 2-part posts which really strike a chord :-) ), for your humorous and warm notes of encouragement.
I recognize that Aug is not a great month to trade, let alone start a project. Anyway, I'm comforted by the fact that I had learned a lot more about me as a trader this month alone, and am now a lot clearer on the next step to take.
Yes, a break now to regroup is in order :-)
Thanks again for dropping by. It's good to see you all :-)
Hi Jules...no advice from me :-)
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