Tuesday, 2 June 2015

Amateur trader feelings, down $1300 and my dedication levels.

Right couple of things I am going to cover is how my emotions have effected my trading, feelings on being down $1300, revision, learning and how much I feel I am dedicated, that last one is an important one and I would enjoy any one to get back to me with how dedicated they are because I have no body to compare myself to because I dont personally know any traders, i am sure i could be more dedicated but i think there a lot more room for being less dedicated in my view, but i will let you be the judge after this post. So firstly my emotions I have discovered in trading so far, I sit in front of the laptop from 5am to 9pm at night (i am in the UK so markets dont open until 2:30PM) so i love starting the day nice and early before anybody gets up its really nice to have that nice bit of peace in the house before my girlfriend, brother, sister mum and dad wake up, even though my dad wakes up just as early most of the time, so I wake up i have my breakfast then onto the laptop i go, i dont even look at making a watchlist at this time i will just be watching tims video lessons, or currently i am watching the how to make millions dvd which is a very good dvd. So i watch that for about 2 hours and then i will do my own DD on Tims watchlist and i will write down on a word document possible entry points and reasons why, i will also plan where i will cut my losses which will be dependent upon price action, then i will do my own watchlist because i want to be self sufficient and going back a little bit when i go through tims watchlist i will write down the tickers without looking at his descriptions and do my own DD on his watchlist and see how it matches up. But going of track a little bit here back to emotions i sit in front of the laptop all day long and i start to get a very tired numb feeling but i do not want to take my eyes of the markets so by the time 8pm comes which will be power hour time in the UK, i am pretty exhausted and those of you who follow tim this is a great time to really focus and try to buy stocks that are finishing strong looking to sell into the following morning, but i have made so many decisions into that power where at the time looked like a home run, but the next morning waking up fresh and looking at the chart and news etc looks like a cow handing himself into the butchers and saying get it over with now, so trying to stop staring at the screen all day recently, i still wake up early dig through the dvd do the watchlists and then i will go for a run or go the gym, or if i dont end up training and do stare at the screen all day and feel exhausted in the evening i will write down paper trades which i have a huge list off, another thing i like to do in the morning is review my trades from previous days. So currently I am down on my account $1300, am i bothered NO, am i disheartened about myself NO, do i think tims strategy isnt going to work NO, do i think trading may not be for me NO, any other questions will be a no also hope you get that point. Being down this much does not bother me at all I have only had a tiny account so these losses could have been double or triple if my account was bigger through this learning process and that is all i see it as, a learning process and a payment towards my education. I can look back at everyone one of my trades that i have lost and pin point where I went wrong, in a old blog i did i said i was only on an apprentice wage when i was first starting out i then went on to be a manager but never left me much room to trade so i demoted myself to a general assistant to free up more time for myself to trade whilst still earning an ok sum of money, my money i get paid is used for a couple of bills and then the rest goes into trading account and yes i mean every penny and my girlfriend does not mind at all she supports me along the way and constantly asks if she can help me grow my account but she takes me out, and i know this sounds pathetic and should be the other way round but i know what shes got coming to her, i work to hard to not do well i always have and always will. So recently i have decided to get a loan to really boost my account which is know a lot of people may advise against but if think like i am and put logic into the situation,i use every penny i get to put in my account and when i get my loan i will need to pay $200-$400 back a month, i have money left over then to do what i want with. Another thing is i work 26 hours over the weekend to free up trading time during the week which is what i requested from my boss and that meant others could have a weekend off so i knew there wouldnt be a problem with me doing it he just looked at me like i was mad and said why would you want to work all weekend ? my answer wasnt a lie but at the same time not the whole truth and that was that i want more time of during the week. So that is where i am at at the minute, and as i said i feel my dedication levels could be better but but there a lot more space for them to be worse, if you could leave a comment and let me know what you think, i would really appreciate it because i enjoy blogging but if nobody is listening whats the point. Please excuse the poor grammar, i just want to get mt points and views across.

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