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Breakout Journal - a journey to full time trading


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Breakout Journal - a journey to full time trading

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  #621 (permalink)
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This guy is pitching so agressive, OMG. Please don't PM me again, not interested in FXCM.

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  #622 (permalink)
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Greetings all,

Found my way back to futures.io (formerly BMT) after taking some significant time off. First an update; I had an opportunity come up at my day job that I could not pass up. It allowed me to do something I love to do (besides trading!) and get paid for doing it. There is no better combination. I have been working 60 to 80 hours a week for the past 6+ months. However, work is finally getting manageable, meaning I now down to 50 hours a week, and I can start doing other things again.

On a personal level; I started weight training and have dropped 30 pounds since April. I have also have continued my study of mindfulness which has helped me keep my emotions in check and helped me see things in the world I have never seen or experienced before. For those who practice mindfulness or want to know more; here is a great app in the Apple App store called Mindfulness Daily.

Part of the reason I stopped trading and posting was I was no longer happy with any of it; trading, posting, the day to day stuff just was not cutting anymore. I became bitter and angry with what I was doing. So eventually I just quit. The bizarre thing was I actually trading well when I walked away. But every time I thought about trading there after I just got a bad feeling and just stayed away. Then the new opportunity at work came along and trading was pretty much out of sight and out of mind.

Then a few months ago I came across a video which changed how I looked at all things I have done and the past and will change how I do things going forward. It was presentation by Simon Sinek @ TED which talked about the Golden Circle. I have posted the link below. It was really a life changing event for me. It was one of those teachable moments which I wish would have happened 20 years ago!! When I looked at my own life I realized where I succeeded the “why I was doing it” was solid, achievable, I believed in it, enjoyed it and I had passion for it. All these things equal success! I immediately applied this logic to my workouts and weight loss, which had been not so good up to this point, and suddenly they became sustainable and energized. My life all around became even better. As I said, life changing!

Fast forward to last month; I ran across my personal journal for trading. As I was looking at my goals I quickly realized the “why” was trading for all the wrong reasons. (but they felt so right at the time!) So, I started crossing out wrong reasons and added a few more reasons to trade. Now it feels right, and when I think about trading its with the same passion I have always had but now my goals and ambitions are in line with my passion. The biggest change is I am no longer seeking full time trading; I am just seeking to trade and enjoy what I what I do. Not to say I will never trade full time, however, now is not right time.

As I said, at the time I wrote at my original goals they felt right, meaning by the time the end came around that I had changed. Thus it came to pass; the man I am today may not be the man I am tomorrow. This was something that I have always known, but did not take into account as to why I didn’t want to trade anymore. In the end the whole experience reminded me of a quote from J.R.R Tolkien which sums it up nicely:


Quoting 
“How do you pick up the threads of an old life? How do you go on, when in your heart, you begin to understand, there is no going back? There are some things that time cannot mend. Some hurts that go too deep...that have taken hold.”

There is no going back to where I was when I started this journal... that part of my life is gone… However, I am happy to move forward with the life I have now.

So what’s next? I plan on continuing to learn to trade. I plan on doing a combine on TST again. However, this will happen when I am ready. Maybe a new journal.. I want to get back into posting on futures.io (formerly BMT); I Enjoy the community and helping people out. It should be fun!

Robert

Simon Sinek: How great leaders inspire action | Talk Video | TED.com

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  #623 (permalink)
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  #624 (permalink)
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Silver Dragon View Post
Greetings all,
...

Then a few months ago I came across a video which changed how I looked at all things I have done and the past and will change how I do things going forward. It was presentation by Simon Sinek @ TED which talked about the Golden Circle. I have posted the link below. It was really a life changing event for me. It was one of those teachable moments which I wish would have happened 20 years ago!!..
Simon Sinek: How great leaders inspire action | Talk Video | TED.com

just watch the vid but how do you apply it? you flip your list of goals upside down?

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  #625 (permalink)
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@Silver Dragon:

Good to see you back around here Robert!

"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
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  #626 (permalink)
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cory View Post
just watch the vid but how do you apply it? you flip your list of goals upside down?

Hey @cory,

Best way to describe is to give a example. I am going to use what I went through with exercising because most people can relate to the experience.

Back in April I looked in the mirror and decided I needed to lose weight. Came up with a plan which per the video I did it from the outside in:
  • What do I “need” to do: Lose Weight
  • How am I going lose weight: I have a punching bag and weights in the basement. I will use the workout plan I have always used. (which I did)
  • Why am I going to lose weight: because I looked awful. At least that is what I was thinking.. I really did not have a why defined beyond that.
.

For those who have struggled with working out or weight loss the following will probably sound familiar. The first week or two I was into it but then I found every reason in the book not to do it. Yeah I looked awful, but I don’t look that bad. Besides it just felt like too much work.

This is what I came up with when I worked from the inside out. Again, this is my actual reason for working out!
  • Why am I going to lose weight: I am getting older. My window of opportunity to get into the shape I have always wanted to be in is rapidly closing. If I don’t do it now it will never happen.
  • How was I going to lose weight: Well, I know I need aerobics to get my stamina up; use the punching bag. I need weight training to build more muscle to burn more calories; use the weights. Design a custom workout and diet to fit my needs.
  • What am I going do; Get into the best shape of my life!

See the difference? The why provides purpose, drive, motivation. I can believe in it. I have also discovered the “why” actually enhances and defines the “what” and the “how”.

My “why” has changed since I started working out. In the beginning every time I would think about not working out I remind myself the window is closing. Great motivation! I went 2 months straight working out 3 to 4 nights a week. Along the way my “why” has changed a little. I still realize my window is closing but I have added: I feel great, look great and want to continue to feel and look great.

Hope this answers your question.

Robert

nosce te ipsum

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  #627 (permalink)
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Awesome video....should be required viewing for all people everywhere....but very applicable to traders.....so easy to lose sight of why we do what we do......


Silver Dragon View Post
Greetings all,

Found my way back to futures.io (formerly BMT) after taking some significant time off. First an update; I had an opportunity come up at my day job that I could not pass up. It allowed me to do something I love to do (besides trading!) and get paid for doing it. There is no better combination. I have been working 60 to 80 hours a week for the past 6+ months. However, work is finally getting manageable, meaning I now down to 50 hours a week, and I can start doing other things again.

On a personal level; I started weight training and have dropped 30 pounds since April. I have also have continued my study of mindfulness which has helped me keep my emotions in check and helped me see things in the world I have never seen or experienced before. For those who practice mindfulness or want to know more; here is a great app in the Apple App store called Mindfulness Daily.

Part of the reason I stopped trading and posting was I was no longer happy with any of it; trading, posting, the day to day stuff just was not cutting anymore. I became bitter and angry with what I was doing. So eventually I just quit. The bizarre thing was I actually trading well when I walked away. But every time I thought about trading there after I just got a bad feeling and just stayed away. Then the new opportunity at work came along and trading was pretty much out of sight and out of mind.

Then a few months ago I came across a video which changed how I looked at all things I have done and the past and will change how I do things going forward. It was presentation by Simon Sinek @ TED which talked about the Golden Circle. I have posted the link below. It was really a life changing event for me. It was one of those teachable moments which I wish would have happened 20 years ago!! When I looked at my own life I realized where I succeeded the “why I was doing it” was solid, achievable, I believed in it, enjoyed it and I had passion for it. All these things equal success! I immediately applied this logic to my workouts and weight loss, which had been not so good up to this point, and suddenly they became sustainable and energized. My life all around became even better. As I said, life changing!

Fast forward to last month; I ran across my personal journal for trading. As I was looking at my goals I quickly realized the “why” was trading for all the wrong reasons. (but they felt so right at the time!) So, I started crossing out wrong reasons and added a few more reasons to trade. Now it feels right, and when I think about trading its with the same passion I have always had but now my goals and ambitions are in line with my passion. The biggest change is I am no longer seeking full time trading; I am just seeking to trade and enjoy what I what I do. Not to say I will never trade full time, however, now is not right time.

As I said, at the time I wrote at my original goals they felt right, meaning by the time the end came around that I had changed. Thus it came to pass; the man I am today may not be the man I am tomorrow. This was something that I have always known, but did not take into account as to why I didn’t want to trade anymore. In the end the whole experience reminded me of a quote from J.R.R Tolkien which sums it up nicely:



There is no going back to where I was when I started this journal... that part of my life is gone… However, I am happy to move forward with the life I have now.

So what’s next? I plan on continuing to learn to trade. I plan on doing a combine on TST again. However, this will happen when I am ready. Maybe a new journal.. I want to get back into posting on futures.io (formerly BMT); I Enjoy the community and helping people out. It should be fun!

Robert

Simon Sinek: How great leaders inspire action | Talk Video | TED.com


Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #628 (permalink)
Legendary Data Wizard!!!
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Slowly climbing back into the swing of things. I have been focused on watching the AUD and getting a general idea of when, how and why I want to trade it. Based on this I have gravitated toward nightly short term trading and longer term swing trading.

The main premise is trading the opening range; daily and monthly. This fits my trading style. Below are a couple of initial charts (subject to change). The monthly VWAP was added on top of the opening range for some context on the intra day chart. Daily chart consists of envelopes and Price Action Swing.


.

nosce te ipsum

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Legendary Data Wizard!!!
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Silver Dragon's Avatar
 
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Excerpt from my personal journal last week:


Quoting 
Profit is nothing more than a result of an action.

I have spent my entire trading career focusing on Profit. Every time something didn't meet my "profit expectations" I would change the formula. I would add new indicators, change the time frame, change what I was trading. Looking back, I wonder how many of my strategies would have have actually made money had I stuck with them and learned to trade them.

Today I am focused on the action: the trade, more specifically the process which makes up the trade. Instead of looking at a specific amount of profit to make I will focus on the trade and learning the markets.

High level plan going forward:
  • Focus on the Action (the trade)
  • Trade a plan
  • Focus on learning not profits

My shoulders feel lighter already.

Robert

nosce te ipsum

You make your own opportunities in life.
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  #630 (permalink)
Legendary Data Wizard!!!
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Silver Dragon's Avatar
 
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Observations of the 60 minute chart. Pretty straight forward. Two overnight trades off the upper and lower VWAP i would have been comfortable taking.


nosce te ipsum

You make your own opportunities in life.
Visit my futures io Trade Journal
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