Think Like A Trader Blog

Thursday, 23 February 2017

Beginner Trader Blog Series - Post 8 by Craig - Rome Wasn't Built in a Day

Hello Traders.

Continuing on with the beginner series blogs, we have Craig back with his 8th post. 

I hope you all enjoy and have had a great trading week.

James Orr

Rome Wasn't Built in a Day

Well, where the heck did January and February 2017 vanish to I hear you say? Maybe it’s just called ‘life’ or maybe it’s the old saying ‘time flies when you’re having fun’ OR maybe the ‘time flies when you’re getting old’ saying… I’ll let you decide which one is for you.  

As crazy as it may sound to an outsider and even with all the losses a beginner can experience, I do massively enjoy trading the markets and I get pumped when knowing the opening is coming back around again, day after day. Even after a few losers under the belt, we all know they don’t make you feel pumped if not annoyed and frustrated, however I do strongly feel that I’m slowly becoming more and more weathered and have learnt there’s always another day for the trading plan to have a stab at the market and that this attitude is far more stable than the unknown ‘over-trading’ to re-coup a daily loss attitude/approach.

So, throughout the entire period of being a turned ‘live trader’ which is just shy of 8 months’ may I say, (touch wood) I still haven’t committed financial suicide on my account (just yet) & (never intend to either) and I can confirm I believe to have positively adapted to the euphoric streaks iv came across and have the confidence in pointing it out.

However, at the end of January 2017 I sat down and did my performance calculations based on December and January combined. I usually do these at the end of each month individually as a reminder of how my progress and education is performing and so I can write my coming months educational plan up from what I’ve learnt and where I need to improve. However, due to a hectic end of last year and early new year I smashed out the two together this time around.

My findings were that after 7 months of live trading, July through to January, I was 2 months down and 5 months up over the total 7 traded. These 2 negatives or ‘learners’ as I like to call them were not as bad as I had initially thought, as the 1st was from my 3rd month in, which was the big psychological education month for me and the 2nd month was that of January just gone which was a measly negative 0.77%, but still a loser and that’s ok providing I accurately acknowledge why this was and if it can be rectified in any way to improve.

It’s safe to say that over my last 8 months trading a live account I haven’t made those huge amounts of profits (yet ;)) nor have I been out and purchased my new Ferrari 488GTB or my Bugatti Veyron 16.4 just yet dammit! …… Just yet, I still will say, however for now I shall continue at my Wednesday evening auctions looking for that bargain bid of an economical diesel dream of a car with 1000km+ per every $70 bucks per tank consumption ha-ha.

All jokes a side, I’ve never been a big dreamer with the whole “get rich quick” type expectations, as appealing as the thought ‘once’ was back in my teens, realty as I matured this was just never the case. I guess I’ve always had an understanding from a young lad at what it takes to become successful in any aspect of life and how one even sees himself as being successful. Yet of course I still hold a firm belief in visualisation and huge goal setting and then the ‘how to’ steps in order to reach one’s desired outcomes. I’m just not one of the ‘if I invest this much $$$ then what am I certain in gaining in return’ type of people.

I believe with the (right attitude, plus a multitude of experience and mindfulness = positive achievable outcomes) for anybody in life. I guess it all comes down to desire.

So, its confirmed in writing and in digital reference that I’m in no way a ‘Warren Buffet’ billionaire just yet. Although recently I do have a similar ‘coca cola’ diet unfortunately and that I am still the same Craig as I was many months back, yet with a heap more knowledge and emotional intelligence to continue the fight/love for another trading day, month and year to come.

Naturally, one would love to have 7 nearly 8 consistently profitable months trading live and I guess this is what I may have been starting to ‘expect’ back in September just prior to the stab in the chest after my 3rd month being a big fat loser of all my first 2 months’ profits. Let’s say I hadn’t really tasted ‘euphoria’ correctly during this time and therefore suffered the consequences lightly, which in turn makes me able to stomach it far better today. I do believe there’s differential in the thickness of the lining in how good one’s stomach handles something and I’m mindful of not ever forgetting this again as I know there are different levels of euphoria and quite possibly heaps still to come my way.

Just over half a year trading live 7/8 months of consistent profits just wasn’t the case for me and I understand my results are far from great but the way I see it which is of course of most importance, is that its cost me nothing thus far in monetary value to gain the experience and knowledge I’ve achieved in nearly 8 months live trading. This could and I guess still can be the other way around and seems that most folks suffer substantial losses in order to then try and bring themselves back on what they have learnt. Therefore, I see myself as having done actually quite well and I feel comfortable in saying so.

I’m not really a guy to share figures and times and didn’t right this post with the intention on doing so, rather just to point out to any struggling beginner newbies that win/lose its all ok providing you stay on track and continue to have an open mind with a good learning approach with the added formula of strong discipline.

Rome wasn't built in a day" is an adage attesting to the need for time to create great things……
Nor was “Decisive Trader Craig”, the highly consistently profitable trader, but all in good time.

No comments:

Post a Comment