The last few months my trading has started to take off and I think it's time that I re-evaluate things. I'm working a fulltime job on top of my trading in the morning and I'm starting to question, "Why am I working a full time job and limiting my trading time when I am making a lot more money trading?" It's really a great question to be asking yourself, because there was a time when I asked myself "Why are you trading and losing all the hard money you worked for and not working a second job to regain your losses?"
What's my day like?
My typical day is getting up 15-30min before the market open (6am my time) trading the morning open before I go to work (posting a trade summary on this blog right before I leave), leaving the house to work an 8 hour job (looking at my charts on my lunch break), going to the gym after I get off from work, doing my trade and chart analysis when I get home, spending time posting charts, checking emails, and answering questions on this blog, and then going to bed and getting about 5-6 hours of sleep.
So what are my plans?
I'm going to try to get the latest shifts I can so that I can trade more in the morning and I may also cut back the hours I work. I like my job, and I like the social interaction I get with my coworkers. My other job gets me out of the house and I hate being in the house all day sitting in front of the computer because I'm a very active person.
What would I do if I didn't have a second job?
I would trade all day. I would do more trade analysis. I would look for other trading ideas. I would look for trade setups using options and also look for trade setups on stocks for swing trades.
What are my goals?
My goal is to get better at trading and progressively increase my avg. profit per week. A couple of weeks ago my goal was 1k a day. If I can trade a full day I try to get 2k. I'm begining to think that as time progresses 5k a day will be possible and from there who knows. What I want for the next month is 5k a week minimum. If I can continue to make 1k a day this next month then I will have proven to myself that it looks like I have indeed learned how to trade. I believe my trading blowup day I had 2 weeks ago was due to a psychological barrier I had in getting my account balance past a certain point. I have phased that point and I believe I'm going to have less severe drawdowns and that I should have continued progressive success. Other goals I have will be to upgrade my old computer, lower commissions, and become more prepared for the trading day by putting aside more time to sleep so I won't be falling asleep while trading.
Where am I headed?
I want to become a fulltime trader and make 10k a month minimum. (although I made more than 10k this month and my trading results are pretty consistent, the next few months I could blow up, you never know). If I had the chance to work at a futures prop firm or hedge fund I would probably try it out for the experience.
REFLECTION ON MY BLOG-
Why did I start this blog?
I started this blog as a journal to track my trades and explore trading ideas.
Who looks at my blog?
My guess is mostly aspiring traders that are still searching for ways to trade.(I've been there).
What do I look to get from readers of this blog?
Nothing. Thanks for all the comments, but please don't ask me for my secrets, because there are none, you just need time to see what is in front of you. I post my charts everyday, and you get to see what I'm seeing in the charts. Personally static charts are very boring to look at, and I'd much rather watch a recording of live trading action so that my brain can get to working.
What do I want this blog to give me?
This blog is a great place for me to post my charts so that I can go back to a particular day and look for repeated patterns. I also use this blog to access my favorite links. I'm not looking for money from readers of this blog and I have no ads on this blog.
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