Wednesday, August 03, 2011

If a Door Closes...

I passed my exams. 

And I've finally picked up the courage to ask a friend with good connections to headhunters for help, and he's done more than connecting me to them. 

So I'm prepared to be working 2 jobs soon. 

When I insisted on trading a 10k account, D had been violently against the idea, and was ready to inject more funds. I turned down his offer, because I was confident that I could work with a small account and even double it in a month. 

The 10k account is officially down to 4.5k as of today. D is still in the dark, and that's the way I like things to be.

I have a lot of issues to work out, and I will not be making another trade for a long time. 

I think I have never really feared the market in a healthy way. I don't think I have ever respected the market, or even treated it seriously. The way I trade is no different from the way I've gone about living my life: playfully and experimentally.

It's time for me to grow up, and be responsible for my own life. I have been very blessed that there's always someone there to take care of me and my mess, but I want to learn to take care of my own mess now. 

I believe it's never too late to learn anything. 

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valtria said...
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seabloke said...

Ah. Now you've put it on your blog, bil will know its 5.5K short.

Even if he doesn't read here, his friends may tell him? OR, his sil will spill???

Soullfire said...

You really need to read a good trading psychology book like those from B. Steenbarger.

You're attempting to blame your performance on not being a good trader, or rather being non serious- but I don't feel this is the case at all.

When you're "on", your trading is quite good. As I've stated before, you don't get a series of profitable trades time and time again by fluke.

The problem I think we traders have to resolve is our mental discipline and focus. There's the disciplined calm cool, and controlled part of us, and then there is the "rogue trader" that is gutsy, emotional, loves danger, and takes on very bad risks that wind up costing us plenty. Our overall improvement and consistency in making good trades is to keep a tight reign on the rogue trader by sticking to our rules.

As a general rule of thumb, if the rogue trader is running wild, you are not following your rules. =)

You next challenge is to pick up support and resistance that you say you have lot of trouble with. Knowing this will ensure you know when to exit positions when the trend changes. Otherwise your candle reading will work, but you might be exiting too early.

There are many traders that would kill to have your level of profits when you are trading well. Once you fine tune your skills the markets will be your ATM. =)

Oh, congrats on passing your exams!

seabloke said...

That just about sums up every conceivable job doesn't it?!

They didn't mention being a housewife and trader :P