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Well my friends, 2010 is nearly upon us! It made me wonder, what New Year's Resolution(s) will you make for 2010 that are related to your trading?
I have more than one:
- Read more about: Psychology, Personal Triumph, Biographies on Traders
- Read less about: Charts, Systems/Strategies, Quantitative Trading
- Eat healthier - yes, it does relate because when you feel better you trade better
- Seek out new remedies for my sleeping disorder - most certainly affects my trading
- Put more in savings than I did last year
- Help more people via futures.io (formerly BMT) than I did last year
I look forward to reading your Resolution(s)! I hope everyone shares, and then a year from now we can check in and see how everyone did.
Most of all, I hope each of you cherish your time this Holiday Season with your friends and family, and make the most of the New Year!
This is always a tough one! I don't know about you people, but I always had problems with all these New Years Resolutions. Mostly because they implied quit smoking, and other habits that are destructive and has to do with discipline.
Actually, after failing upon completing them, well not always but almost. I decided to give them up. And after years of search I realized that discipline is a hard thing to practice because it's about a part of your conscious mind that's called will power, and that is temporary. I further realized that the result is not always the desired one because all those things you want to accomplish are always some sort of contrary point to what you aim for. Let me explain myself.
Life is actually pretty simple. It's only about two basic things. The two P's! We always do these two things:
1. We always look for Pleasure, and
2. We always want to avoid Pain.
Remember that these two things are different for all of us, because it's actually about what we define as pleasure and pain.
Now if you want to quit smoking. The effect will be pleasure, but to get there it requires pain.
If you want to eat healthier food, the effect is great but the road is painful.
That's why you keep yourself on the same path, being stuck with all your bad habits. Because per definition they give you more pleasure then pain.
So, that's why I gave them up. And I intend to keep on not having them.
BUT, And I apologize Mike!
In order to not mess up Mikes intention and thread. I can use some bullet points, and tell you, what I'm struggling with and want to change!
1. Eat healthier food (hope is OK if I hijack that one Mike )
2. Become more aware of myself
3. Become more brave and get rid of fear
4. Let go of things with ease that's affecting me in my life
5. Trade whenever I want to IF I want to or feel like I want to
6. Get rid of all my money blocks
7. Spend more time with my family and kids
8. Let go of the future, and let the now take care of things
I grew up in an environment where having "stuff" was a sign of success. It wasn't until recently that I realized the most important "stuff" was a happy and healthy well-adjusted self, partner, family, and friends. 2010 is about risk management. Don't lose the happy and healthy well-adjusted self, partner, family, and friends. Avoid tradgedy.
Not sure about which is #1 and which is #3, but it's something like:
#1 be more aggressive, take (a bit) more (calculated) risks
#2 spend less time on my screens/charts; I've seen enough unlikely things in real time (FRE/FNM, ES @ 667, LEH, C, ...), I'm ready for the next black swans and a huge VIX
#3 get focus on less instruments. Stocks, futures, options, a bit of Forex for hedging my USD positions, it's too much. Not so bad results in each one, but not good enough.
#4 think less
#5 stop coding smart indicators/strategies, it's a funny hobby, but don't help for making money
#6 no more than 2 indicators per charts (nearly already done)
#7 build a medium/long term/low risks stocks/options portfolio, without interfering with #3, and without spending 10 hours/week on it
Ask for God's MERCY, PROVISION, PROTECTION, WISDOM, KNOWLEDGE, GRACE, PEACE, SPIRITUAL PROSPERITY, MATERIAL/FINANCIAL PROSPERITY, AND FORGIVENESS OF SINS COMMITTED DELIBERATELY/INADVERTENTLY. DO THIS EVERY DAY, EVERY MOMENT, EVERY TIME AND ALWAYS.
My one is simple at this point. Because I took a break from live/actual trading because of a combination of poor results and a worsening data connection (which has since improved a little but for a while was truly unworkable), and because my highspeed connection today was delayed for yet another month until Jan 8th at earliest, my resolution is:
a) I will not start trading live again until I have worked out a solid trading plan.
b) I will execute this plan, along with revising it in an intelligent fashion in terms of reviewing its and my strengths and weaknesses etc, for at least 3 months after the time I launch again.
c) I will document this in my journal pages here on futures.io (formerly BMT).
This is good to write down. This year will be about FOCUS.
In 2010 I fully expect to have a fantastic year. I believe in balance. I have had a yin yang tatoo on my arm for 10-12 years...('cause i'm a moron and need a constant reminder I guess...) but it is a concept that I try to incorporate in everything I do. Yin and yang - Wikipedia, the free encyclopedia So a list of what I expect to do for myself in 2010 also needs a list of what I will do for others or it won't balance out.
For me -
*2010 will be a year of change for my family. Our goal is to move full time to Eleuthera in the Bahamas by the end of 2010.
*I will focus more on trading and trading well. Quit goofing off with ninja. It is a tool to accomplish a goal. Nothing more. 1 or 2 indicators max...no more template shifting. I proved to myself I can trade off of different views (although similar views)...now stick with one and move on. (I deleted over 1250 templates and 400+ indicators this morning - 1st step is admitting the problem ha ha.... ). Go with largest timeframe I can manage risk on. Quit scalping. It has been more "thrilling" than profitable. Trade then shut it down.
*Bank profits for the move. No more toys...geez I have enough. Simplify in all aspects.
*Spend more time with my family and kids - this actually falls under both. Everybody wins with this one but I think I get a better deal....
+++++++++++
For others -
*when not trading spend more time giving to others. I wrote this and realized it is vague and need to work on a commitment I can keep here....intention is to give more to local community... will revisit this one. Already do a few things but maybe take on additional responsibilities... yeah I know... I said maybe.
edit - OK - I am going to work with the local Habitat for Humanity program... working out the details.
*monetary-
It rarely makes the news but there are lots of fantastic people in this world who do amazing things to help others. My goal is to work towards making at least as much impact as these 2.
enterprising little buggers aren't they...feel kinda bad sitting on that couch watching the game, huh? geez.
*I gave to this in the past but will give something meaningful a minimum of 10% this year to this cause. It is a good program. Ryan's Well Foundation
+++++++++++++++++++
So word for the year is FOCUS. In all things.
clean water is a real problem in certain parts of the world... here are a few great products invented to help... if anyone wants to "borrow" from my resolutions. The Hippo Water Roller : TreeHugger
i have no resolutions. but i will follow my mind map ( trading plan and method ).
this include a strong mind or better a clear mind for all trading session. i keep it simple.
one trade per day if a signal is in the market.
I will work with myself. I want to change bad patterns into positive patterns. I will not allow repetition (Read book of trading, the old behavior patterns --> to reduce my view). I will follow my simple trading plan and I will get through this.
I have now written so many times about doing it but again
1. meditation (Brain sync) (great stuff, alpha and theta make your mind happy)
2. sedona (mine is already)
3. core transformation (strong work)
4. they help me to take this away. and we have already mastered the december positive.
I am not spiritual, I only recognized my errors.
Causality is the relationship between an event (the cause) and a second event (the effect), where the second event is a consequence of the first.
Happy New Year to everyone, and may all your resolutions come through!
We all struggle to make tomorrow look like yesterday!
Get rid of your past and let the future unfold from the now. Past performance is not indicative of future results.
/George
) but it is a concept that I try to incorporate in everything I do. 