In deciding to publish and review my trading results on a monthly basis instead of at end of each week, I feared I could lose my sense of accountability and that this in turn would lead to a resurfacing of my behavioural deficiencies. A week in to the new year, I am happy to report this hasn’t happened and I continue to tread carefully in the markets.
I managed to post a gain of 4% in week one of the new year, which is a nice positive start to 2007, but I realise this isn’t very meaningful in the grand scheme of things because the frequency of my trades has dropped significantly, in line with the blunting of my ‘edge’. What is more important is that I continue to adhere to the road map. I appreciate my endless references to the road map sound repetitive, but this is deliberate; it is a reflection of my belief that it is so easy to forget hard lessons learned in the past and to spend our energies looking forward to the next life/trading tip that will help us on our way. By repeating the old messages of the road map, new tips and advice can be set in context of previous lessons learned, and important messages are reinforced instead of fading away with the inevitable forgetfulness that accompanies the passage of time.
In the months ahead I will be investigating other ways of making a living and the outcome could be that trading becomes a truly part-time activity. I didn’t want this but I have to deal with the reality of my situation. In the meanwhile, I’ll continue to try and develop a better feel for my edge.