May trading results

Moving into June, I reflect on a tough month (-0.5%) fairly well handled. Less self-restraint may have allowed for greater profits, but only at the expense of increased potential losses. I believe it is not wise to make such a sacrifice at this stage of the game and my game plan is unchanged going forward.

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2 responses to “May trading results

  1. Caravaggio…

    I think you might want to consider a slightly different approach. You are up monstrously with this project of yours. But, you give yourself very little credit.

    I’m kind of doing my own little project on the side. It’s similar to yours, but different. Instead of looking at the micro results, I am focusing entirely on the process. I could care less about each individual trade, but instead look at the final goal, and how close I am to attaining it. I think there are a lot of parallels with trading in that simple little approach. I think most traders put too much emphasis on each individual trade, and forget that it’s about the entire process.

    Drop all of these weekly numbers, and put your total growth rate up on the board with the end result right underneath it. Focus on those things only. You’ll embrace your total results, while simultaneously ignoring every little micro aspect of the process. Your emotional attachment to each individual element of the process will evaporate into thin air, and consequently you’ll develop a completely different kind of winning attitude.

    A journey of 1,000 miles begins with the first step. It’s not so much that each individual step is crucial, but the entire process. Keep that in mind. As you walk along that process, sure, you’ll trip and fall over a leaf or a feather from time to time. Those crazy things just jump at you. But, as long as you continually make process, then you need not worry about any bumps along the road.

  2. I hear you brother. I agree that traders seem to get lost in their trading results over too short a time horizon. Indeed, this is why I am wholly focused on my road-map (https://the3500.wordpress.com/the3500-roadmap/) which covers the behavioural side of trading (the process) and is given a much higher priority than my weekly trading results, which are posted largely because I want to keep things transparent and maintain a sense of accountability. Posting the numbers and revealing my monetary situation like this also helps prevent me from taking the type of reckless risks I took when I was operating behind closed doors. And even though I feel much stronger now, with greater control over my faculties and emotions, I’d prefer to keep posting the stats as a check/balance mechanism.

    Also, I like your positive attitude to how this game is played, and how dealing with losses is part of the process, and I take it on board. I have a ‘walk-away’ level, but until then any bumps in the road are just that, bumps. On this note, I was playing a little golf this weekend with three friends. One of them would be playing fine, but then, after a bad tee-off, or a missed putt, he would get gloomy and depressed and end up stuck in a mode of regret for not having done better. Then, when it came to the next shot, he’d play it with these negative thoughts in mind. The results were predictable, and it would take something special to bring him back to a balanced state. I think it’s important to learn from one’s mistakes but not to dwell on them.

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