Sunday, January 28, 2018

Reverting to old Weekly Reviews / Weekly Review

Slump from last 2 weeks has me change back to the old weekly review system.

GOALS REVIEW From Jan 1st:
1 Book per 2 weeks
I finished:
The Disciplined Trader (Mid Dec-Wk 1)
Trading in the Zone (Wk 2)
MoMo Traders (Wk 3)
Reminiscences of a Stock Operator (In Progress)

1 Webinar per day
Challenge webinars aren't as of quality as I originally thought.  I will be going through the NEW webinars every week on saturdays.

Raise the consistency of AM / PM Rituals to 5/week
Just finished reviewing my January Progress, contrary to my guess--i'm more consistent with my AM rituals and have less RED on my PM rituals, I DO KNOW that last week's PM rituals were made as a catchup and were made DURING the AM rituals.  So in a way, i did do them but on the wrong time.  But progress was made.  Also, on my AM ritual--the 5min Exercise was a fail.  I AM Planning to start including a weekly workout routine soon however.

I started Jan 1-8 strong with meditating.  Missed until Jan 15 and restarted until Jan 26 and forming a new streak.  I noticed once I stopped meditating, and missing my routines--I started to go into my old ways and had a slump.  Outprocessing obstacles and a ton of random appointments waned my resilience + failure of the new weekly review system---I was finally overcome by my adversities this last week--hence reverting back to what worked.

Things MANDATORY this week:
1 - B*** EPR
2 - T*** Phase II letter / AFTR
3 - B*** Phase II letter / AFTR
4 - Sched Dental Annual
5 - Sched Opto Annual
6 - Reset CAC
7 - Get Sleep Study Referral
8 - RESET ETS/MOVE.MIL ACCOUNT

Schedule for the Upcoming Weeks:
Sunday
- Get through Work alive
- 1, 2, 3, 4, 5, 6, 7, 8.

Monday
- Get through Work alive
- 1, 2, 3, 4, 5, 6, 7, 8.

Tuesday
- Get through Work alive
- 1, 2, 3, 4, 5, 6, 7, 8.

Wednesday
- Get through Work alive
- 1, 2, 3, 4, 5, 6, 7, 8.

Thursday
- Screen Time, After Hours Scan

Friday
- Pre-Market Scan, Screen Time, After Hours Scan

Saturday
- Finish reading BOOK / Finish Sykes Webinars, Finish WarriorTrading Webinars/Youtube

GOAL:
BOOK
- FINISH Reminiscences of a Stock Operator
- Finish Week's Challenge/WarriorTrading Webinars/Videos
- Increase Meditations to 15mins / Day

JANUARY 28-FEBRUARY 3
- WEBINARS / Screen Time getting habits into muscle memory

FEBRUARY 4-FEBRUARY 10
- WEBINARS / Screen Time getting habits into muscle memory

FEBRUARY 11-FEBRUARY17 (On Leave)
- WEBINARS / Live Trading Series of Trades

FEBRUARY 18-FEBRUARY 24 (On Leave)
- WEBINARS / Live Trading Series of Trades

Habits Update

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

On the road to work
- 30mins of Productivity/Discipline/Motivation/Habit-related Audio

Once I have downtime at work
- Challenge Content/ Warrior Trading Content

On the road from work
- 30mins of Anything / Relaxation Music

As soon as I get home (Screen Time)
- Exercise, Shower 0630-0730
- Post-Market Scans / Yesterday's Recap / Meditation 0730-0810
- Pre-Market Scans 0810-0825


- Screen Time 0830-1000
- Bed routine by 1100 Asleep by 1200



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


--------------------------- For February-------------------------------
**** 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
- ACCEPT RISK !!

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 ***

Tuesday, January 2, 2018

Biocomputer and changing beliefs/behaviors

Very simplistically, to Lilly’s way of thinking, all humans who reach adulthood are programmed biocomputers. However, we all have the capacity to “self-program” the biocomputer and therefore, create new programs and revise old programs. Since our reality is a creation of our beliefs, feelings, and thoughts, when we allow our self to open to the unknown, we release our self from what we already think, feel, and believe. When there is a field of “emptiness” where we are able to see space rather than barrier, new possibilities can emerge; we are free to go beyond our limiting beliefs.

We need to think about beliefs that are imposed and that leave no room for an alternative perspective or point of view. Think about all of the things you were overtly or covertly instructed to avoid; how much of your behavior was modified, or even extinguished. (Of course, some conditioning is necessary for the purposes of survival and socialization.) The messaging could run as deep as an absolute prohibition carrying severe punishment, real or imagined if not obeyed, to a milder form, such as disapproval or pressure to comply and conform, which, nonetheless, is very limiting.

Lilly constructed a series of ordered questions meant to challenge held beliefs, and to effectively change them. You ask yourself the questions and you answer the questions, much as you would do with a therapist. Think of this exercise as a way to “self dialogue”.

So, try this exercise. Choose any issue, attitude, behavior, even bad habit that you want to address and ask these questions.

 What are my goals when I engage in this behavior/way of thinking, feeling, believing, or acting? In other words, what am I getting out of doing it?

 By what means can I stop this behavior? What do I need to do in order to stop thinking, acting, behaving this way?

 What is my relationship with other people and the way I utilize that relationship that allows me to continue this behavior, or to stop this behavior? This is a point often not considered. People that we hang out with may hold the same attitudes or beliefs and there may be pressure from the group not to change.
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 Am I capable of stopping this behavior? In other words, how do I know I can stop?

 What is my orientation, when I engage in this behavior, or when I stop this behavior? Where is this behavior leading me in either case?

 What do I have to eliminate in order to stop this behavior? What behavior(s) and /or people do I need to let go in order to stop doing what I’m doing?

 What do I have to assimilate to stop this behavior? What must I absorb/adopt to change this conditioned behavior?

 What must I do to bring my impulses in line with stopping this behavior? How do I extinguish the impulses/desire that perpetuates the behavior? When the impulse arises can I delay gratification? Can I substitute another thought or action in place of the impulse?

 What are my needs when I engage in this behavior and when I stop this behavior? Do I really need this behavior or just want or like having it? What habitual activities that support this behavior must be eliminated?

 What are the other possibilities in relationship to this behavior? What positive behaviors can potentially replace old negative patterns of behavior?

 What is the form this behavior takes? Describe detail by detail how this behavior is carried out on an ongoing basis. Is this behavior really important to your being? (If this is hard using an issue of your own choosing to work with, then use the example of smokingand the desire and goal to quit. Step by step think about all of the activities centered around smoking, not just smoking itself---people you hang out with that smoke, leaving the office for smoking breaks, hours thinking about cigarettes, anxiety about running out of cigarettes, and on and on.)

 What is the substance of this behavior? What does this negative, limiting (and sometimes potentially dangerous) behavior/attitude/belief really have to do with who I am?

Lilly addressed inner realities by constructing a model that included the old reality as well as the new one. In essence, this critical, but honest questioning of one’s motivation and behavior creates a new program; one that exposes the negative side of the behavior, lifts limitations, creates new possibilities, and changes behavior for the good.

The reason why I did not want to do research work...

Not mine, it's a cut of someone else's blog post but I can't credit right now cuz their site is all jacked up..

One curious thing about my life are my cyclic bursts of energy and motivation.  Every few years, it seems that I subconsciously get bored with some aspect of my life and suddenly undertake a variety of ambitious and extended projects.  The most recent of these, I think, involved my stopping at a music store one day after work on a whim and signing up to take guitar lessons.  The first I recall was near the end of my undergraduate years.
I did my undergraduate work as a physics major at the University of Chicago.  For a large portion of my life, I’ve been a rather passive individual, “going with the flow” without making big efforts to achieve my own dreams.  For example, in my junior year, I remember meeting one of my first-year professors on the quad.
“Still a physics major?” he asked.
“Yeah, I can’t think of anything better to do,” I replied, which sort of ended the conversation.
My statement was bitter, but rather honest; somewhere in the back of my mind I was convinced that I was carrying on a physics degree until I found my true calling, whatever it was.  Nearing the end of that junior year, though, I realized that I needed to get more involved if I was even to continue in physics in grad school.
I exploded into action: I got myself a summer job in an experimental particle physics research group, and made plans to do an (optional) senior physics thesis which would graduate me with honors.  I decided to become a physics tutor, and I took up two martial arts, karate and aikido, on the side. I agreed to be a student marshal, which meant that I would help out at graduation, and I even volunteered to be a resident assistant in my dorm.  (Sometime around then I also started working at GenCon gaming convention, which went on for seven years, but that’s another story.)
I had a good time doing my thesis.  I ended up constructing and testing, from someone else’s design, an analog electronic circuit which could measure the energy output of a particle calorimeter.  The analog design was discarded in favor of the digital version, but I still learned a lot.  I had a great post-doc directly advising me, who I can credit with breaking me of a lot of bad habits (such as saying “I understand” when I didn’t understand), and was indirectly supervised by the head of the project, one of those people who is very nice but, by virtue of his intelligence and authority, scared the hell out of everyone.  (He once walked by the lab, poked his head in to say, “Hi!” and I nearly hit the ceiling.)
After graduation, I stayed on in the lab for another year and then applied to graduate school, and got accepted to the University of Rochester.  I did a TA for a year and then settled into working with an advisor doing experimental particle physics.
Things kind of drifted along aimlessly then for a while, and I gradually started to lose my enthusiasm over particle physics.  Part of this was the environment: I went from a school very strong in particle physics (Chicago) to a school very strong in optics, and the enthusiasm level just didn’t seem as high for the particle stuff.  Part of this was due to the recent demise of the SSC (superconducting super collider), which was supposed to fill the role that CERN’s new Large Hadron Collider now holds: discovering new physics through unprecedented high-energy collisions.  I actually was a “fly on the wall” during one of the strategy discussions when the UofC physicists were deciding how to convince Congress to save the accelerator.  Around the time I started graduate school, particle physics felt a bit like it had the wind knocked out of it.
Lots of little things started to drive me nuts, though it is important to keep in mind that I was suffering from clinical depression and very little would have made me happy back then.
I spent one day in the accelerator tunnels assisting an engineer during his inspection of the accelerator beamline.  When he found an area which wasn’t quite level, he would use a crowbar to force a pipe high enough to stuff a shim underneath it — not exactly what I was expecting!  At one point during the inspection, he had to give a quick ten-minute tour of the lab to visitors, and told me to wait in the tunnel.
There were no chairs down there, so I started looking for somewhere along the wall where I could prop myself and wait.  But everywhere along the beamline, there were these little chalkboards, marked with the dosage of radiation I would get by standing in their vicinity.  I walked probably half of the tunnel looking for a non-radioactive part of the tunnel, to no avail!  To be fair, the radiation level was essentially negligible for the amount of time I was spending there, but it did make me wonder whether I liked the work enough to get any extra radiation exposure.
Part of the difficulty of getting involved in particle physics is the rather steep learning curve: the physics is very non-intuitive and the techniques are elaborate.  Searching for new physics requires first learning to interact with a massive catalog of simulated collision events.  By working with this data set, one can develop a set of “cuts” which will in principle eliminate all the false positives and only leave those events which represent the new physics.  Even then, one needs a very good understanding of statistics to interpret whether or not the detected results are statistically relevant or not.
One day, after having worked for months on developing a great set of cuts to search for “rare-B” decays (rare, non-standard model decays of the bottom quark that would represent new physics), I proudly showed off my proposed cuts to one of the post-docs working on the project.  His response, in effect, was: “Don’t put too much faith in that simulation catalog.  We know it’s not very accurate.”  WTF?  Then what was I doing working with it for all that time???
Particle physics experiments are massive undertakings that require a large group working in collaboration to build and maintain both the detector and accelerator.  One necessary side effect of this is that research results end up being published with the entire group as co-authors, and the groups can be ridiculously large: the CDF collaboration, which discovered the top quark at Fermilab, had at the time some 300 members.  To my mind, I was just as troubled by the possibility of other people co-authoring (and taking credit for) my work as I was by the possibility of my name being associated with work I had no direct role in.
The final straw for me, though, was:
THE TUBE!!!!!
I, or more accurately, my advisor, was assigned the task of testing a prototype for the inner tube of the new detector’s drift chamber.  A particle detector is built around the “tunnel” the particles travel through.  The particles collide head-on in the center of this detector, and charged particles produced in the collision scatter out through the drift chamber, a large collection of densely packed, highly-charged wires (via NobelPrize.org):
chamber3
The charged particles are detected by the wires, and a powerful magnet curves the trajectories of the particles, allowing a measurement of their momentum.  A sample event measured by the CDF detector is shown below (via DOE Pulse):
cdfevent
The wire chamber is in a vacuum — the wires would discharge in air — so the 12-inch diameter inner cylindrical wall of the chamber must be airtight.  It must also be temperature resistant (the wires get hot), and must be precisely round to within around a 100 micron tolerance, which is the distance of the closest wires to the wall.  We received a prototype carbon fiber tube, and it became my job to test the damn thing.
For. A. Whole. Year.  It took FOREVER to do the measurements.  It is very difficult to set up and operate a system to measure the roundness of a 1-meter long, 12-inch diameter tube to micron precision — and wasn’t even close to round.  It also leaked air profusely.  The final straw, after a year of measurement, was to put a small slice of it into an oven at 100 degrees and see what happened.  The thing came out a hugely distorted ellipse!  The tube, like my undergraduate circuit project, ended up not being used.
At that time, I started reflecting on my career.  I had just spent most of the year measuring a TUBE!  I couldn’t imagine how that would look on my future resume.  I was frustrated, and didn’t think my career was going anywhere.
It was then that I had another one of my bursts of ambition.  Like many young physicists, I had gotten into science with the dream of becoming a theoretical physicist.  Why, then, had I ended up in experimental work?  Partly it was due to inertia — I was following the path that started with my undergraduate particle physics job.  Partly, though, I realized that going into a large experimental physics group was my way of “playing it safe” and finding a career where I felt I could “hide” amongst a crowd.
I emphasize again that this isn’t the way particle physics works — rather, it was my rather immature and inaccurate view of the way it works.  Nevertheless, I realized that I really wanted to do theoretical work, and wondered how to make it happen.
I was lamenting my state to a classmate in Taco Bell a short time later and he suggested that I could possibly work for his advisor, a distinguished theoretician.  I joined the research group and started life as a theoretical optics researcher.  My work was no longer the “fundamental” physics I had originally aspired to, but I found that I loved it nevertheless.
This wasn’t the end of my troubles, of course; theoretical work has its own downsides.  A few years later, with my grad work floundering, I had another burst of energy and took up skating, skydiving, long-distance running and kung fu.  A few years after that, I got treated for my depression, and a final burst of energy got me graduated and on my way to Amsterdam to postdoc.
If there is some bigger point to this post, I guess I should direct it to aspiring scientists.  When choosing a field of research, you should consider whether not only the topic of study but also the methodology is something you enjoy.  Also, make sure you choose a research field because it is truly what you want to do, and not simply what you are doing to “play it safe.”

Monday, January 1, 2018

Weekly Reviews Change

I'm changing up the format of the weekly reviews a little bit--moving a majority of it offline to a more accessible/immediate local use and have more of a strategic view on the online blog.


I'm still waiting to find out if my work schedule will swap to Wed/Thur/Fri/Sat.  If it does happen, this will set me back a lot emotionally and mental energy-wise since I will have to appropriate more to work to deal with the crap on the other element unless I just totally clock out and don't care about it.
Goals for the week

1 Book per 2 weeks
1 Webinar per day
Raise the consistency of AM / PM Rituals to 5/week
Focus on Process vs Outcomes for trading / Series of Trades


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.