I've noticed that boosting my overall productivity through habits manipulation has been awesome. But habits are only a part of my overall day and it's said that habits makeup of just under half of decisions throughout the day. A huge chunk of the time wasting that I want to start targeting is mind wandering and distractions. Learning more about mindfulness and starting to meditate again is going to be of priorities. **I've noticed that i've fallen prey this past week to the old "learning knowledge but not applying syndrome". I have to make more emphasis on doing the exercises and applying techiniques learned this week than just reading.
2 weeks ago I missed 4.5 days of 5min journaling
Last week I missed 2.5 days of 5min journaling (which was my off days) but 100% during work days
** New things to apply this week **
1) Audiobooks only and no youtube vids during my drive to work
2) Experiment inserting meditation somewhere during my day
3) Apply a DON'T DO list whn planning my day
****** Reading through my whole blog I noticed:
The strategy is already proven to give you an edge, the MAIN thing I really need to focus on is trying to be as objective and an impartial trader as i can. Finding a way to not be swayed by emotions such as fear, greed, fear of missing out, anger/revenge trading, boredom, etc.. should and IS NOW my main goal for trading since these are exactly what i see between the novice traders and all the successful/profitable traders i've followed so far...
Having a patient, disciplined, objective and impartial trading mindset/attitude is what i'll be working on this next 2weeks-1month .. Once i start on a path on being consistently being in that state.. Only then can I expect myself to be a consistent profitable/successful trader. ................
Computers can't accurately judge huge portions of the market because the market itself are just a huge blob of emotions. It's very irrational like everyone keeps saying, cause what moves the market at it's core is human emotion. If people stopped going to sbux, how would it affect its stock? If people's emotions towards buying each new iphone that comes out changes, what would happen to the stock of Apple for each new gen release of the iphone? lx21 says show me someone with no emotion, i'll show you someone with no passion.. On the other hand, there's been successful traders out there that says to trade as if you have no emotion, just like a robot.. Humans have the edge in analyzing the market because the market itself is irrational and made up of emotions.. humans are at heart, irrational/emotional beings... Computers have the edge in the act of trading, because they don't let the emotions of a human affect/disrupt the plan/strategy. I think I can refine those two opposing schools of thought even more in one sentence...
****** Reading through my whole blog I noticed:
The strategy is already proven to give you an edge, the MAIN thing I really need to focus on is trying to be as objective and an impartial trader as i can. Finding a way to not be swayed by emotions such as fear, greed, fear of missing out, anger/revenge trading, boredom, etc.. should and IS NOW my main goal for trading since these are exactly what i see between the novice traders and all the successful/profitable traders i've followed so far...
Having a patient, disciplined, objective and impartial trading mindset/attitude is what i'll be working on this next 2weeks-1month .. Once i start on a path on being consistently being in that state.. Only then can I expect myself to be a consistent profitable/successful trader. ................
Computers can't accurately judge huge portions of the market because the market itself are just a huge blob of emotions. It's very irrational like everyone keeps saying, cause what moves the market at it's core is human emotion. If people stopped going to sbux, how would it affect its stock? If people's emotions towards buying each new iphone that comes out changes, what would happen to the stock of Apple for each new gen release of the iphone? lx21 says show me someone with no emotion, i'll show you someone with no passion.. On the other hand, there's been successful traders out there that says to trade as if you have no emotion, just like a robot.. Humans have the edge in analyzing the market because the market itself is irrational and made up of emotions.. humans are at heart, irrational/emotional beings... Computers have the edge in the act of trading, because they don't let the emotions of a human affect/disrupt the plan/strategy. I think I can refine those two opposing schools of thought even more in one sentence...
tldr: Analyze like a human prior to the trade but once in a trade, analyze and manage the trade like a robot would.
**** 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
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'être currently is daytrading.
Habits Update
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
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'être currently is daytrading.
Habits Update
I'm at a point where I'm getting NO STUDYING done on my day's off but to compensate, I'm able to consistently get a chunk of the challenge DVD's at work. I know I've been slowly going through the content since I have the Seinfeld X's but I haven't been tracking the overall progress to see how far exactly I've gone through. Starting this week, I'll have specific days for the coming week planned out and targets for at least 4 weeks out. I will also have a printed out version taped to my wall to constantly remind me of it.
I missed my first morning brushing my teeth but that was because it was a training day and I haven't had a training day in months. I picked right back up however and have been successfull in attaching new habits to brushing my teeth such as drinking a full glass or water/recording my blood pressure/taking vitamins/planning out my day. My goal here is to slowly morph it and create a morning ritual that i can stick to and set me on the right path to consistency.
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)
- Workout til 0700
- Study til 1130, 5min Journal
- Bed routine by 1220 Asleep by 1300-1330
Rituals (For Off Days)
- Workout til 0700
- Study til 1130, 5min Journal
- Bed routine by 1220 Asleep by 1300-1330
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
Anything goes on my off day
Anything goes on my off day
Schedule for the Upcoming Weeks (3-5hrs per day)
Monday
PS Disc 1/2 + 1 Webinar
Tuesday
PS Disc 3/4 + 1 Webinar
Wednesday
PS Part Deux Disc 1/2 + 1 Webinar
Thursday
PS Part Deux Disc 3/4 + 1 Webinar
Week of Oct 1
Learn Level 2 Disc 1-8
Learn Level 2 Disc 1-8
Week of Oct 8
New Rules of Pennystocking Disc 1-3
New Rules of Pennystocking Disc 1-3
Week of Oct 15
New Rules of Pennystocking Disc 4-6
Week of Oct 22
Learn Level 2
Week of Oct 22
Learn Level 2
