Tuesday, December 26, 2017

Adapting to Change required assumptions, KANT, BELIEFS, MORALS

I haven't learned everything there is to know.

What I have learned to believe either by force-unwillingly thrust upon us, as an expression of the outside environment-or by choice-as an expression of the inner forces that operate within us like our curiosity and attractions-may not be very useful with respect to fulfilling ourselves in some satisfying manner.

What we have learned that is useful and works to our satisfaction is still subject to change because of the changing environmental conditions.




Kant believed that, if an action is not done with the motive of duty, then it is without moral value. He thought that every action should have pure intention behind it; otherwise, it is meaningless. The final result is not the most important aspect of an action; rather, how the person feels while carrying out the action is the time at which value is attached to the result.




Our obsession with benefiting ourselves brings up the relationship between self-interest and morality. Deciding that a particular behavior is morally wrong in a particular circumstance is a value that can only be imposed by a self-interested being. A non self-interested being is incapable of conceiving of right and wrong in a moral sense. There is no such thing as moral right or wrong until there first exists self-aware self-interest. Right and wrong, in the perception of the actor, are defined by the ends that the actor’s natural instinct of self-interest guides her to embrace. The ends that we seek are always defined in the context of our self-interest and moral choices are always expressed in light of the ends we seek. We are not saying that morality IS self interest; nor are we saying that structures of ethical reasoning are synonymous with self-interested reasoning or motivation.

Mathematics provides a clarifying example. Nobody would say that mathematical reasoning and self-interest are the same thing. The structures of mathematical reasoning are independent of the phenomenon of human self-interested reasoning. However, all mathematicians always use the structures of mathematical reasoning in a self interested manner. Also, the only reason that mathematicians ever discover new mathematical structures is because they are responding to self-interested motivations. In the same way the structures of ethical reasoning are independent of the phenomenon of self interest. However, it is only by responding to self-interest that people embrace moral rules and ethical reasoning, and only through self-interest has any ethical thought ever been developed. So it is that our ethical thoughtfulness about moral right and wrong is born of and embraced through self-interest. Our self-interest is the foundation of our capacity to be moral. Our instinct to benefit ourselves makes our participation in moral choices possible.

That this instinct for self-interest may assert itself in minds that are ignorant, confused, twisted, broken and utterly unable to know what is truly good is a separate issue that does not negate the fundamental truth of Socrates’ insight that people never willingly harm themselves. Action based on ignorance still has the motive of benefiting the actor but lacks the knowledge to make good of that motive.


Question:
1. Have you ever committed a wrong action in which you did not seek to benefit yourself in some way?

Even motives of entertainment, stress relief or avoidance of anxiety count as seeking to benefit you. If you answer no, then your own life is a testimony to the truth of Socrates’ belief. If you answered yes, you must try to asses your answer. Did you really commit a wrong without trying to gain something...anything...from that action? If you commit any action, wrong or right, without a view to any end then you have done something extraordinarily rare. Completely motiveless actions are virtually unknown except perhaps in the case of disease or brain trauma. Even in cases of disease or brain trauma there is usually some kind of motivational context although it may be incoherent. It is highly likely that you have never committed a wrong action in which you did not seek to benefit yourself.

It is at this point that we come to an important clarification. Socrates did not state that doing wrong to others is ever right, but that the motivation for such actions determines the character of the will involved. Socrates maintained that people are never motivated to bring harm to themselves. Since Socrates believed that wrongdoing always harmed the wrongdoer, he saw all wrongdoing as a mistake in judgment or an expression of ignorance. This is especially true in cases where a life full of wrongdoing never physically harms the wrongdoer. Socrates believed that the most pitiable of humans were those who lived under the delusion that their wrongdoing benefited them. According to Socrates, the successful tyrant who is able to do great wrong for many years without ever being held accountable, was the most terribly harmed of all human beings. Socrates believed that doing injustice made us less just and diminished our character. For Socrates, the only harm in life comes through our own wrongdoing. When we see people knowingly doing wrong to others, they are not cognizant of the harm that their wrongdoing brings upon themselves. So it is that even the most flagrant examples of willful human wrongdoing, which may seem to contradict Socrates’ belief, actually confirm Socrates belief by being examples of our instinct to benefit ourselves misguided by ignorance. If all wrongdoing harms the wrongdoer and all people make decisions only to benefit themselves, then all people commit wrongdoing through ignorance and not through a will to do wrong.




I had a utilitarian, consequentialist reading of Nietzsche/didn't fully understand him which led me to a decade of suffering (i.e. a reading from the perspective that we should act in such a way that our actions will result in the greatest good for the greatest number of people). For Nietzsche, an objection would have been yet another example of mankind attempting to impose arbitrary moral standards onto a universe in which none objectively exist. Nietzsche was less interested in the imaginary moral constructs mankind might use to reduce suffering and more interested in discovering the truth of existence.

The universe has no perception of morality.  I need to wary of external sources of virtues and have to come up with my own set of values and morals.



BEHAVIORAL ECONOMICS / FINANCE

Friday, December 22, 2017

Cryptos VS Stocks, why i'm leaving CryptoTrading but staying as an investor

Cryptos vs Stocks

Overall

I won't be trading cryptos.  This will be it--in short, the time i'm spending on currencies is time away from refining my equities trading skills.

Returns

Cryptos are undeniably the hottest sector and is reminiscent of the 2000 Internet bubble.  For long-term investors, this might not end well for a lot of inexperienced investors/traders.  However, for traders that are risk averse-oriented that's capturing a slice of the big ass opportunity that's the ongoing bubble--so much opportunity everywhere to easily make 100-500% of your position size which is INSANE.  The downside is that having a huge position size on some of the smaller-known altcoins can result in a loss of 30-50% in a day or two.

Stocks on the other hand, i'm only reasonably expecting to grab anywhere of 3%-8% of a 30% move.  I am able to control my risk much more with stocks because the platforms I use for stocks are much more mature and has hotkey capabilities.

It really is a struggle NOT to want the returns of crypto trading.  The returns far outweigh the risk involved ESPECIALLY if I am participating in pump and dump groups that routinely manipulate these unregulated markets.  The returns of cryptos far exceed that of stocks but there is one con that I will explain further below.

Liquidity

Anything on the top 20 actually has enough liquidity to support the type of trading I do.  When I was in a couple of groups that try to spot pump groups for alt coins--the $volume for some of the picks sometimes is barely 1million.  Hell yes its easy money to make x5-x10 of your money in a day or two but coupled with the fact that I don't like pump groups--i'm fine not trading false hype like this because I'm already at the point i'm primarily not trading for money anyways.  In short--finding pumps or even manipulating the market to lure in outside cash from new investor/traders is fun and all, but it's not my cup of tea.

TIME

This is pretty much what catches and reels me in.  Crypto market is 24/7 and trying to find pumps is a 25/7 job.  Yes, it's a 25 hour job because it takes a lot more than what I currently have in a day to be able to track and keep in touch with the smaller altcoin market somewhat.  Unless i'm in a group where we will be clearing out the bid or ask to wipe out weak hands--most of the time in cryptos is just waiting since you do not necessarily know exactly when the volume will be coming in.  So like i said--most of the time is spent waiting.. Trading is patience.. but If i had a choice between finding a market that has a consistent time day after day where the volume is high and a specific time--i'll choose that even if it has less returns.

Swing trading cryptos--I can do and really is what I've been doing in cryptos.

vs Stocks-- Stocks has a market open and a market close.  The good thing about the stock market is that fact that during the open--a TON of volume is pushed through everyday at 930am-10am.  I can literally trade for 10minutes up to 1-2hrs max and call it a day.  The returns will be far inferior than that of the crypto market--but like I said, I trade not for the sole reason of the money anyways.

But can't I just trade cryptos--make a million then quit it entirely?  Yes, but it was never about the million for me anyways.

There are plenty of markets out there outside of the crypto market that I can make a million dollars from.  Crypto market is just another asset class in which a portfolio can be diversified into.

LTC Short success, LTC short chased and multiple lesson day

Last Crypto Trading/LTC

There's a lot of good lessons here.  Some revisits prior lessons, some reinforces new concepts/rules just learned and some new ones that I've just come upon.

1)  LTC Swing Lessons-- I saw signs of LTC toppinng out at 420, this was a deja vu from the ETH trade back in JUNE.. I initiated profit taking and sold 1/4 size at an avg exit for 360 with an avg entry of 70.  There was no clarity and conviction on exactly how much profit taking I was going to take therefore no further profit taking or trailing stops were put into place.




2)  LTC Short Scalp-- I decided to scalp some stoploss/panic selling.  I ended up on a short position too early.  Shorting in currency aren't as risky as stocks since you do not start with a negative position that you HAVE to cover at a later time--because of this false confidence, I let it go a little bit against me.  Once it went back my way and broke 250, I started buying my intial position back in for a 10% profit.
I have to be careful shorting too early, I was early by 25$.  I need to develop more patience on waiting for a better short entry.




3)  LTC Swing Stop Fail/Chased Scalp Short Fail/Buying the Panic Fail-- When I checked how LTC was doing, I saw it had broke through 200 and was at 170.  The position size I had was what I though was manageable--but the speed it broke through 200 and the want of scalping it pushed me into a trade.  At first I didn't check how far the panic had already been in and experienced a FEAR OF LOSS.  I was able to subconsciously take a breather and regained composure.  However, unlike what my system for trading equities, I did not pre-define my risk going into my short and I was just going off my gut instinct that it had a little bit more to go.

I chased shorting LTC at 170 looking for a 150 breakdown and more panic selling.  It broke 150 and I sold my Longterm position at once it broke 150 as well.  Earlier before doing this blog post I thought it was because I got scared out of my position/FEAR OF LOSS but now that I'm doing my AAR--the reason I sold wasn't because of FEAR but was of GREED--I wanted to ADD to my position.

My LTC position was only 25% of my whole crypto porftolio that I have already accepted that I can lose getting wiped out completely--the reason I sold all at 150 was to add to my existing short position.  It was a crazy battle between buyers and sellers at 150 with the spread widening up to $30.  I knew this was the bottom but I had frozen--Instead of getting back into LTC I hesitated as it rose.  Once it hit 170 I should've wen't back in breakeven or at least at 200 where my mental short stop was.  But I didn't do anything--eventually I applied my rule where if I broke a rule today, I wouldn't trade anymore.  That's at least one thing I did right today.  It's at 250 now by the time I'm writing this post.. 60% gain in 1hr is what I missed out on.  I have to tell myself it's ok though--there'll be more opportunities in the future.

4)  Don't mix trading capitals that have different time horizons--don't mix day trading, swing trading, investments together.  What can be a buy signal in one time frame can be a sell signal in another.  Planning helps lol.. Since there was no clarity and distinction between my positions--I sold my long LTC position inadvertently along with the portion I was scalping with.

5)  Don't have any distractions while trading.
Since this wasn't stocks, i've been alot more lenient/flexible with a few of my old rules.  In a 15second window I wasn't looking--I missed vital information of LTC bottoming out at 150.  






Tuesday, December 19, 2017

Weekly Review

From Last Week:
- Finished my EPR
- Had to postpone what was planned for more important family matters

Schedule for the Upcoming Weeks
Sunday
---

Monday
---

Tuesday
- Finish reading BOOK
- Fly back to St. Louis

Wednesday
- FINISH reading The Disciplined Trader
- Get back into the working rhythm/routine
- Verify If I have Friday off or not for the TAP 2 day SBA Track

Thursday
- 2 day track or OFF DAY/Finish reading BOOK or MISC

Friday
- 2 day track or Finish reading BOOK

Saturday
- Finish reading BOOK / 1 WEBINAR

GOAL:
BOOK
- FINISH The Disciplined Trader

MISC
- Increase reading to 60mins on ACCEPTANCE/Conscious Listening/Mindfulness/Increasing Attention and Focus


DECEMBER 24-30
- WEBINARS / Prep Crypto Trading / Prep Stock Trading

JANUARY 7-JANUARY 13
- WEBINARS / Series of Trading

JANUARY 14-JANUARY 20
- WEBINARS / Series of Trading

JANUARY 21-JANUARY 27
- WEBINARS / Series of Trading

JANUARY 28-FEBRUARY 3
- WEBINARS / Series of Trading


Habits Update

Rituals (For Work Days)
As soon as I wake up (Morning Ritual)
- Make bed
- 5 mins Headspace / 5mins Meditate
- Drink Water/Take Vitamins
- Floss/Brush Teeth/Listerine
- Record Blood Pressure/5min Journal/Plan out my day

On the road to work
- 30mins of Audiobook

Once I have downtime at work
- Challenge Content

On the road from work
- 30mins of Audiobook

As soon as I get home (In progress)
- Study 0700 - 1030, 5min Journal/Meditation
- Bed routine by 1120 Asleep by 1200

Rituals (For Off Days)
As soon as I wake up (Morning Ritual)
- Make bed
- 5 mins Headspace / 5mins Meditate
- Drink Water/Take Vitamins
- Floss/Brush Teeth/Listerine
- Record Blood Pressure/5min Journal/Plan out my day
- Stretch / Physical Therapy / Morning Jog

Anything goes on my off day

"Once I have a system, the only thing that matters is the six inches between my ears..."






--------------------------- For December -------------------------------
**** Gamblers think about profits, Traders think about Risk ****
Shifting my attitude/mindset from making money and towards:

1) Risk Management
- Know risk prior to trade
- Know stop loss prior to trade
- Size position accordingly to the stop loss

2) Managing Emotions
- No more zombie trading
- No more revenge trading

3) Managing Mind
- Regular Meditations
- Objectivity Exercises

Mandatory Weekly Goals....
A) Zero (0) Zombie trades
B) Zero (0) Revenge trades
C) Trade only quality/Go-To-Setups.. (Think retired trader)

** Something I want to do in the future--Watch a stock's price action with NO indicators


Rule: If I have either 1 zombie trade or 1 revenge trade during February, I will sit out from trading for a mandatory 1 week cooling off. This will be a negative incentive that will turn me off from making those type of trades since almost all my motivation and raison d'ĂȘtre currently is daytrading.

*** ACCEPTANCE ***

Perception, Execution, Accumulation



There are two dominant themes that form the foundation for this approach.  The first we have already briefly covered, that you create the market that you experience in your own mind based on your beliefs, perceptions, intents, and rules. And, second, your trading results will be a function of the degree of skills you develop in three primary areas: perception, or your ability to perceive opportunity; execution, or your ability to execute a trade; and accumulation, or your ability to allow your account balance to grow over a period of time or series of trades.

EXECUTING YOUR TRADES

Your ability to execute your trades is a function of the amount of fear you generate or the lack of it. Fear is always the result of your beliefs about the threatening nature of the environment. What could be threatening about the market? Nothing, if you had the confidence and completely trusted
yourself to act appropriately under any given set of market conditions. Essentially, what you fear is not the markets but rather your inability to do what you need to do, when you need to do it, without hesitation

In your relationship with the markets you had to learn what to fear. What you learned to fear was a result of whatever you did that caused pain. Your pain was the result of your not knowing what to do next that resulted in an outcome you neither expected nor intended. In the market environment you are free to act or not to act; the markets cannot do anything to you that you don't allow, even if it is out of ignorance or a complete sense of powerlessness.

The effects of fear on one's behavior are obvious, limiting one to the point of complete immobility. If you can't execute your trades properly, even when you perceive the most perfect opportunity, it is because you have not released yourself from the pain contained in the memories of past trading experiences and because you still don't trust yourself to act appropriately in any given set of conditions. If you did, there would be no fear or immobility.

ACCUMULATING PROFITS

Your degree of self-valuation will regulate how much money you will give yourself (the market doesn't give you the money, you give it to yourself based on your ability to perceive opportunity and execute a trade) out of the maximum potential available or perceivable at any given moment or time frame perspective. Regardless of the depth of understanding you have of market behavior or what you consciously intend, you will only "give" yourself the amount of money that corresponds to your level of selfvaluation. This concept can be explained with a simple illustration. If you perceive an opportunity, based on your definition or what market conditions constitute an opportunity, and do not follow through by executing a trade, what stopped you? In my mind, there can be only two possible reasons. You were either immobilized by the fear of failure or you are struggling with a belief (value) system that says you don't deserve the money. Otherwise, you would have acted on your perception.

SELF-ACCEPTANCE

The second theme that provides a foundation for the belief system I am offering is that personal transformation, growth, and learning new skills are a function of self-acceptance. Your intent of learning a new skill or way of expressing yourself is in essence an attempt to create a new dimension of yourself. It is a goal you have projected out into the future that you will then attempt to fulfill by growing into it. The market will quite naturally make you face what is inside of you on a moment-to-moment basis. What is inside of you could be confidence or fear, a perception of opportunity or loss, restraint or uncontrollable greed, objectivity or illusion. The market just reflects these mental conditions, it does not create them. Therefore, to grow into a new expression of yourself (fulfill your goal of being a more successful trader), you will need to learn how to accept the existence of any of these negative mental conditions and the psychological components that create them. Cultivating a belief in accepting whatever you find inside of yourself will give you the base you need to work from to change these conditions.

STUFF

What I intend to demonstrate in the following chapters is even thoughyou cannot turn your eyes inward to actually see these mental componentparts of the mental environment, it doesn't make them any less real. Besides,it isn't necessary to turn our eyes inward because we can just as easily learn to define what is inside of our mental environment by what we see and experience in the outside physical environment. By making the connection between what we believe and what we experience, it will be a lot easier to change what we experience by learning how to manipulate our beliefs. We will examine the nature of beliefs and how they act as environmental information management systems. I will demonstrate how our individual beliefs about the nature of the market, and our expectations of what it will do next, manage and control the type and quality of information we perceive about it. By breaking down the dynamics of perception, you will be able to identify the various ways in which all of us place mental limitations on the market's behavior and how these limitations cause us to distort market information. We will thoroughly explore the nature of fear and how it compels all of us to act without a perception of choice. The predominate underlying force behind most traders' actions causing prices to move is fear—the fear of missing out (competing for the supply) and the fear of loss. If you really want to understand the market's behavior to anticipate what it will do next, then you will first have to learn about and understand the underlying forces beneath your own behavior and how you process and manage information. When you understand how any number of typical market-related fears operate in your life and learn to release yourself from them, you will, in effect, be separating yourself from the "crowd." When you separate yourself from the "crowd" and expand what you know about the forces affecting your behavior to encompass the group, it will be much easier to anticipate what the group will do because they will merely represent a larger (collective) version of the way you used to be. In other words, you will know how other traders will behave before they do because you will be able to observe them from a detached perspective—due to your having evolved beyond the choiceless state of operating out of fear.

Wednesday, December 6, 2017

TRADING SKILLS/Psychology + Finding Oneself vs Being understood

Unrealistic expectations cause us to define/interpret and therefore perceive market information as threatening.
- Being Wrong
- Losing
- Missing Out
- Leaving Money on the Table

Fear will cause us to focus on the object of our fear so that we end up creating the experience we are trying to avoid.

*********************************************************************************

The one last bastion that I need to overcome to be a consistent trader is something that I feel has plagued me my whole life.  Growing up I knew and felt that I was different, now I don't mean that in the sense that I am superior or better than the others (even though I felt that way at the time) but over time--just different.  How I see the world vs how majority of others see the world is where my internal conflicts arise from which resulted in me achieving drastically "less than what my potential" could be.

Children have a relatively strong imagination vs adults.  They are more in touch with nature and with God and is commonly depicted as such.  The reason for this is that as children grow up, they are conditioned to such a way to be more "rational", less imaginative, and into thinking how to live inside "human constructs" that society creates.  If you don't adapt to society's or parents standards/expectations-- you are diagnosed with a mental disorder which ends up a self-fulfilling prophecy in most of the cases.

Our current science/psychology and developmental theories are very refined from how we though a 100yrs ago, but it's not exact/can still be further refined and this is where it falls apart and exactly how disorders are created.  We've created the illusion of disorder where there was no disorder in the first place.  In my case, majority of mental health personnel i've talked to would revert to their "studies/knowledge/degree" and become biased in their assessments which in turn would cause them to not see me for what I am.  I'm not saying this is "wrong" because there's really no right or wrong in life--it's how one perceives it and usually it's just the opposite side of the same coin/concept.

Getting back on topic, the rationalists would most of the time have a high probability of them telling me that growing up--I was still trying to find my place and figure out who I was in life.  This falls in line with how majority of people are but I didn't fall in that category.  Most people are just lost in life who pretends to know what it is that they are doing.  They give up pursuing their childhood goals and dreams and start to reason and justify that they are now an "adult" and have to live a certain way that opposes their hearts desires.  This is where their mind asserts control over their consciousness and some live their whole lives lost with the rationale that this is how society wants them to live their life so they are indeed living a good life.  And this is where disorders starts, internal conflicts between the heart and mind that causes people to turn to things/objects/actions/addictions that "numbs" the brain temporarily--just enough so that they can function yet again to society's wants and needs.  What's worse is those not financially knowledgeable/disciplined will fall into a similar cycle which is very, very hard to get out of unless they can first psychologically get out of it first--The Rat Race.  Personal Finance was never about numbers or money--it's about human behavior.

For me it was never about "growing up" into how society thinks, but me losing who I was into something that was "socially acceptable".  The "smarter and rationally knowledgeable" I get--the more dumber I got in my irrationality, imagination and intuition skills--and I saw/felt that.  Society does not fully accept/understand "crazy" people unfortunately but it is the imaginative people of today which without doubt shapes society's tomorrow.

I had always known who I was through a priori.  It was never about me finding out who I am, but what it was--was me trying to have society/others try to understand me which I HAVE to understand that this will never happen.  I have visions that society just cannot see.  I need to come to terms that Society will never be able to accept me--I just need to accept them.

*Side note: I've always noticed people in life trying to figure/think me out.  I've sometimes said don't think about how I think--then you'll understand me.  They'll give me a weird face that I'll laugh at internally.  It's sad but I've always known that they don't understand me, I just never accepted it.

Simpler terms, I am someone who can see and think outside of human constructs/societies limitations/box (if there ever was one).  But i'm always conflicted on why so very few can see that.  On a similar note, in the past i've always argued and tried to explain to my older sister Charlotte that we as a family is different than the rest of other people in terms of intelligence/knowledge but she perceives that she is just normal and average compared to other people.  It's funny that I try to show her that but at the same time not fully embodying/accept the concept i'm trying to show her.  This is where I need to fully embrace that--because in short, it shows up in my trading.

I've been doing alot of  Acceptance and Commitment therapy and applying mindfulness techniques to combat this internal conflict.  Increasing my communication skills/language/active listening skills has also shortened the gap between being able to explain how/what I am in ways the others can understand.  In short, I am a metaphysician, mathematician who happens to love dabbling in Theroretical and Quantum Physics as well as logic.  If i'm ever able to overcome this last psychological barrier that i've noticed i keep running into--this will set of a chain of events that are already deterministic that I will become a disciplined, consistent and profitable trader.. i.e. ATM machine ka-ching ka-ching !!

Sunday, December 3, 2017

Weekly Review

From Last Week:
- Fun Thanksgiving with fam
- Halted studying during holiday week

- Finished New Rules of Pennystock (8hrs)
- No Webinars yet
- No EPR Bullets yet
- Got alot of good Trading Psychology down though (8hrs)

Schedule for the Upcoming Weeks
Sunday
- Finish B1/B2's LOC/MFR
- 5 EPR Bullets
- 2-3 Webinars

Monday
- 5 EPR Bullets
- 2-3 Webinars
- VA Appt

Tuesday
- FINISH EPR
- 2-3 Webinars

Wednesday
- FINISH Whatever else
- 2-3 Webinars

Thursday
- MUST COMPLETE Trading system/process
- 3-4 Webinars/Reintegrate with the Markets

Friday
- Reintegrate with the Markets/Platforms
- WEBINARS !!

Saturday
- WEBINARS !!!

GOAL:
- WEBINARS !!!
- Increase reading on ACCEPTANCE
- Increase reading on Conscious Listening/Mindfulness/Increasing Attention and Focus

DECEMBER 3-9
- WEBINARS

DECEMBER 10-16
- WEBINARS / Tracking Market

DECEMBER 17-23
- WEBINARS / Start Trading


Habits Update

Rituals (For Work Days)
As soon as I wake up (Morning Ritual)
- Drink Water/Take Vitamins
- Floss/Brush Teeth/Listerine
- Record Blood Pressure/5min Journal/Plan out my day

On the road to work
- 30mins of Audiobook

Once I have downtime at work
- Challenge Content

On the road from work
- 30mins of Audiobook

As soon as I get home (In progress)
- Study 0700 - 1030, 5min Journal/Meditation
- Bed routine by 1120 Asleep by 1200

Rituals (For Off Days)
As soon as I wake up (Morning Ritual)
- Drink Water/Take Vitamins
- Floss/Brush Teeth/Listerine
- Record Blood Pressure/5min Journal/Plan out my day
- Stretch Phys. Therapy Regimen

Anything goes on my off day

"Once I have a system, the only thing that matters is the six inches between my ears..."






--------------------------- For December -------------------------------
**** Gamblers think about profits, Traders think about Risk ****
Shifting my attitude/mindset from making money and towards:

1) Risk Management
- Know risk prior to trade
- Know stop loss prior to trade
- Size position accordingly to the stop loss

2) Managing Emotions
- No more zombie trading
- No more revenge trading

3) Managing Mind
- Regular Meditations
- Objectivity Exercises

Mandatory Weekly Goals....
A) Zero (0) Zombie trades
B) Zero (0) Revenge trades
C) Trade only quality/Go-To-Setups.. (Think retired trader)

** Something I want to do in the future--Watch a stock's price action with NO indicators


Rule: If I have either 1 zombie trade or 1 revenge trade during February, I will sit out from trading for a mandatory 1 week cooling off. This will be a negative incentive that will turn me off from making those type of trades since almost all my motivation and raison d'ĂȘtre currently is daytrading.

*** ACCEPTANCE ***