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Zen & the Art of The Small Account


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Zen & the Art of The Small Account

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  #201 (permalink)
 chipotlebop 
Pleasant Hill, CA
 
Experience: Intermediate
Platform: Tradestation
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aztrader9 View Post
It occurred to me last night late that I have been working non stop for over a year. 12-14 hours a day including most Saturdays. Its either trading or learning about trading. Honestly, no time off. No out of town weekends, no long weekends, nothing. Just work.
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At the professional level, everyone is a master of skill. The superior fighter will be the one who is superior at managing energy. Harness your Zen power.

Making NO errors is what establishes the certainty of victory...
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  #202 (permalink)
 PandaWarrior 
In the heat
 
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Rest day went more or less as planned. Its hot here in AZ and I hate the heat, so it takes me longer to do things than I plan on.

Went to my friends office to annoy the heck out of him and ended up talking for almost an hour with no annoying behavior on my part. Oh well, it was a thought. Did Starbucks, library and a couple of other things.

Tried to buy some ink for a printer. $15 per cartridge. And it seems like I go through them so fast.

So I opted instead to bring in my Dell 5100 CN Color Laser Printer for work groups I had for my mortgage office. Brand new 4 years ago....$2200, seen here on ebay for $394. DELL WORKGROUP COLOR LASER 5100CN - 51OSINB, 0H6899 - eBay (item 220630292443 end time Aug-29-10 11:44:08 PDT)

Mine has the dual paper tray though so that adds about another $100. That option was $500 if I remember right back then.

I should be able to print for about 3 years without changing toners and I can share it with all three of my computers. Bingo. This is a work in progress, have to finish tomorrow as it is to heavy to lift by myself. Getting a moving dolly to roll it in the house.

Picked up my kid from school, talked on skype to a friend and took it easy for the day....all is well. Actually looking forward to trading again on Monday.

Later.....

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #203 (permalink)
 ZTR 
 
Experience: Advanced
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aztrader9 View Post
This is a work in progress, have to finish tomorrow as it is to heavy to lift by myself. Getting a moving dolly to roll it in the house.

Later.....

If you did my workout you wouldn't be such a girly man.

R.I.P. Andy Zektzer (ZTR), 1960-2010.
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  #204 (permalink)
 PandaWarrior 
In the heat
 
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Ok, love is a strong word, but I love my charts again. Never stopped actually but was wondering if they loved me back. I think they do.

They spoke to me over the weekend. Told me I could trust them. Not what I thought they should be saying, but what they were actually saying. Its like talking to your wife or girlfriend. As a guy, we try to read between the lines, discover the hidden meaning of their words. This leads to trouble. Listening to what they actually say and acting on it means there is a certain degree of CYA available for us in case we do the wrong thing.

Its like that with trading, just act on what its telling you, not on what you thought or what you want it to say.

Spent a fair amount of time on Saturday reviewing the charts from the week. Yes I said I would take a short vacation and I did, but also needed to prepare for tomorrow.

I discovered that my trades were breaking my rules. I wondered why. I wrote the rules so it should be easy to obey. Turns out, every time I have taken a personality profile like Briggs-Meyers, my tendency is to work hard to design a system that works, hire someone to write the rules for said system, tell them to follow the rules and then I am free to figure out how best to break the rules and get away with it.

I mentioned this to my wife today. She said duh!. Like last week, we are teaching our kid to walk in the crosswalk. There is one right in front of her school. My wife took my daughter to the crosswalk, and taught her how to make sure no cars were coming and how to cross safely. I jaywalked. There were no cars, it was safe, there were no police around. Why not jaywalk? It was faster than the crosswalk and besides, the rules don't REALLY apply to me. Trust me, I heard about that little object lesson when we were alone.

Trading does not allow for rule breaking. If you want to break the rules, you better figure out ahead of time consequences and if those are acceptable. If not, you'd better not break the rules.

So for this next week, I am live again but with a profound commitment to rule keeping. I have a trade log next to me with my set ups on it. It also includes a no trade zone column. Every trade must have a check in at least one of those boxes before I can take it. No exceptions.

My daily goal is this: By Friday, I want to be netting 50 ticks a day on CL. Day one will be ten ticks live and 40 on sim. Day two, 20 live and 30 sim, etc until on Friday, all 50 ticks are live.

I cleaned up my charts a bit, got rid of an indicator I found perfect in hindsight and useless live. So now I have just two real indicators and price action.

Tomorrow I will have my new schedule up along with some thoughts on balance and focus.

Have fun and happy trading!

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #205 (permalink)
 PandaWarrior 
In the heat
 
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I am sure most of you had ZenFire issues today. I did as well and elected to not trade live until I was sure it was 100%. NT told me they found it "necessary to reset the ZenFire server". Would have been nice to tell us about that little issue via a blast email. Seems to me they have all of our emails. I sure get enough junk mail from them.

Anyway, I did trade sim today.

After looking at the daily chart, I figured today for a tight range day. Consolidation for a day or two while prices establish direction, either break the upward sloping trend line and continue down or hold and test the short leg we just had. Sure enough, it was a tight range. I missed the nice move early due to connection issues but still managed to find a few entries.

I once again printed my trade log sheet with my entry rules on it, I checked off my reasons for the trade before each trade in pen so I couldn't change it later on and now the chart, the check list and this journal will all go into a binder each day. More work I know but work journals are hugely important. I had gotten away from it.

Obeying my rules paid off today. I had a couple of "wth (what the heck) was I thinking trades" but still managed to earn a small profit.

I am testing two additional entry criteria to go along with my existing ones. They are Trendline breaks in the overall daily direction, and a method to trade between the fibs. This would not have worked real well today as the range was tight but I think there is value there. The trendline break seems to hold real promise in getting into a move early. If there is confluence with another entry rule, it seems to be real powerful. More to come.

The time off was really helpful. Was much more focused today, more patient and more willing to just wait. I also held all trades to completion. Including a stop I knew I should have exited early on. That was on one of those, "wth" trades. Actually, every "wth" trade should be exited immediately upon saying "wth". Sure sign of bad entry.

I'll be making some changes to my schedule today to allow more "time off". This means less time trading and more time studying and doing other more important things. That schedule will follow later today.

So a disappointing day in terms of being live but better safe than sorry. Good day following my rules.

I posted my charts just so you can see them but there are no live trades.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #206 (permalink)
 PandaWarrior 
In the heat
 
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Last week I realized I was a one dimensional person. Trading was it. This is not a bad thing for a while. After all, I need to learn and it takes time and discipline to learn.

That learning was devoted to developing and trusting an edge. I think did that. It was won at an incredible cost of time and effort as well as money chasing trading rooms, better indicators, etc. The breakthrough came for me when @ Big Mike told me to trade one set up for two weeks and then change something. That was almost impossible. I realized if I could not do that, then I should not be trading real money. So as you know, I worked hard on trading the same thing for a month and trying to make money with it.

I found what works for me. But just as I did, my mental and physical limits were reached. I could not focus anymore. That was the reason for the rest last week.

During that time, I knew I needed to protect my physical, mental, emotional and spiritual health. Spending 12-14 hours a day in front of a trading screen was not going to help me do that.

So today, I came up with a new schedule. I've been thinking about what is important to me and while trading is both fun and mentally stimulating, I need to find outside things to do. Being a stay at home dad brings challenges I did not know existed.

So the calendar I've attached is my starting point. I think I can be real disciplined and stick to the early portion of it. I still don't know what to fill the personal/family time with and that troubles me as I don't have a hobby that doesn't involve airplanes and hotels.

I think this aspect of what to do with my free time is one thing that has haunted me for quite a long time now. With my kid in school most of the week and my wife at work 3-4 days a week, I am left with almost an entire day with nothing to do. This can be troublesome and I need to avoid that.

I've thought about starting a free coaching service for traders but I don't have the street cred for that although that sounds like fun. I've thought about playing golf every day but about a week of that and I'll get bored. I really need projects to work on. That is what keeps me energized. So I guess I look for projects.

Anyway, this begins a new chapter in my life. I have just finished the bottoming process and now looking for a rebound. By focusing on the entire person, I hope to achieve fulfillment as well as financial freedom.

Going forward, I will continue to post my trading results along with thoughts and plans for the future.

Til tomorrow.........

Cheers.

I almost forgot, I got Th Market Wizards in the mail today. I thought I bought The New Market Wizards but its the original. No worries though. I am going to read it as well. Hopefully The Daily Trading Coach will be here soon.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #207 (permalink)
 gtichauer 
Argentina
 
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aztrader9 View Post
Last week I realized I was a one dimensional person. Trading was it. This is not a bad thing for a while. After all, I need to learn and it takes time and discipline to learn.

That learning was devoted to developing and trusting an edge. I think did that. It was won at an incredible cost of time and effort as well as money chasing trading rooms, better indicators, etc. The breakthrough came for me when @ Big Mike told me to trade one set up for two weeks and then change something. That was almost impossible. I realized if I could not do that, then I should not be trading real money. So as you know, I worked hard on trading the same thing for a month and trying to make money with it.

I found what works for me. But just as I did, my mental and physical limits were reached. I could not focus anymore. That was the reason for the rest last week.

During that time, I knew I needed to protect my physical, mental, emotional and spiritual health. Spending 12-14 hours a day in front of a trading screen was not going to help me do that.

So today, I came up with a new schedule. I've been thinking about what is important to me and while trading is both fun and mentally stimulating, I need to find outside things to do. Being a stay at home dad brings challenges I did not know existed.

So the calendar I've attached is my starting point. I think I can be real disciplined and stick to the early portion of it. I still don't know what to fill the personal/family time with and that troubles me as I don't have a hobby that doesn't involve airplanes and hotels.

I think this aspect of what to do with my free time is one thing that has haunted me for quite a long time now. With my kid in school most of the week and my wife at work 3-4 days a week, I am left with almost an entire day with nothing to do. This can be troublesome and I need to avoid that.

I've thought about starting a free coaching service for traders but I don't have the street cred for that although that sounds like fun. I've thought about playing golf every day but about a week of that and I'll get bored. I really need projects to work on. That is what keeps me energized. So I guess I look for projects.

Anyway, this begins a new chapter in my life. I have just finished the bottoming process and now looking for a rebound. By focusing on the entire person, I hope to achieve fulfillment as well as financial freedom.

Going forward, I will continue to post my trading results along with thoughts and plans for the future.

Til tomorrow.........

Cheers.

I almost forgot, I got Th Market Wizards in the mail today. I thought I bought The New Market Wizards but its the original. No worries though. I am going to read it as well. Hopefully The Daily Trading Coach will be here soon.

AZtrader,

I see u trade only 1.5hrs a day according to your calendar.....have u been consistent in the past at getting 50 ticks a day on this short period ?

what about including some sports / body training activity to keep in shape....like walking, running or biking 1hr...?

GT
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  #208 (permalink)
 PandaWarrior 
In the heat
 
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Posts: 3,163 since Mar 2010
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gtichauer View Post
AZtrader,

I see u trade only 1.5hrs a day according to your calendar.....have u been consistent in the past at getting 50 ticks a day on this short period ?

what about including some sports / body training activity to keep in shape....like walking, running or biking 1hr...?

I was able to get 50 ticks several times in 90 minutes. More importantly, my method almost always generates enough signals to get 50. Does that mean I always execute? Of course not. Even today with the very narrow range on CL, there were enough signals to make 50 ticks. So I think its possible and very doable. Assuming no internet issues tomorrow, we are about to find out.

And yes, I do walk early in the morning every day for about 30-40 minutes and I am exploring some other activities that are physical in nature.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #209 (permalink)
 gtichauer 
Argentina
 
Experience: Intermediate
Platform: Ninja
Broker: Zen Fire / IB
Trading: ES, TF, 6E, CL
 
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aztrader9 View Post
I was able to get 50 ticks several times in 90 minutes. More importantly, my method almost always generates enough signals to get 50. Does that mean I always execute? Of course not. Even today with the very narrow range on CL, there were enough signals to make 50 ticks. So I think its possible and very doable. Assuming no internet issues tomorrow, we are about to find out.

And yes, I do walk early in the morning every day for about 30-40 minutes and I am exploring some other activities that are physical in nature.

do u share your methods on this thread? not able to read it complete yet....

GT
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  #210 (permalink)
 itrade2win 
New York
 
Experience: Intermediate
Platform: Sierra Charts, TOS
Trading: E-mini S&P 500
 
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aztrader9 View Post
I've thought about playing golf every day but about a week of that and I'll get bored. I really need projects to work on. That is what keeps me energized. So I guess I look for projects.


AZ,

Unless, you have a zero handicap how can you get bored with playing golf everyday? Golf is a hugh mental game. Why not work on your golf game? Improving your golf game may help you improve your trading game mentally. Golf and trading are my two biggest passions.

Cheers
itrade

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