October Performance Review
The goals set for October and how it went:
- Finalize Deep Dive on EP // Done
- Read more on the EP topic // Done
- Create an article on the blog about EPs // Done
- Create a video presentation with findings of the EP deep dive // Done
- Create the MB and EP printed folders with A+ setups and review them weekly // Not started
- Learn Trade Ideas software Basics // Good progress
- Considering the earning season coming soon, focus on NTRT MTRT
Trading could have been better in money terms, but it got me some important experience.
- I Got into some EPs with a high position size, but they didn't go through, and my stop loss was incorrect.
- While learning Trade Ideas, I was very impressed by some alerts and top lists and thought that now I had found the holy grail of trading and made a lot of trades that didn't end up well in some of the cases and just washed me away.
The most significant achievements of this month:
- Finalize Deep Dive on EP
- The deep dive is an experience. You get an excellent understanding if you are committed to putting in the work and studying EGs training on EPs and what KQ wrote. I regret that I didn't know what I know now sooner about this setup. I could have made big money with it while working during covid time… I got a lot of amazing feedback from you guys; thanks a million. Who missed the deep dive you can find it here: https://stockbee.biz/tweet/598485/#comments
- Started Learning TradeIdeas
- It was a stretch for me to buy this software as it's pretty expensive, but my commitment to be a Pro is there, so I bought it in August. In October, the task was to learn the software in more detail, and this is what I did. I spent more than 15h learning basics and how other traders use it, and the findings are boom, boom, boom.
- The software seems complex, but it is not as difficult as I thought; it's well-made, super fast, and intuitive. Couple of solid points that I already see: the alerts give you a sign when something noteworthy happens in a stock, the top lists also structure the tradings and increase the “being in control feeling,” and the worm improves the SA. Overall the software gives an EDGE. The factories are under upgrade to integrate the software better in my process, but the combo: of TC2000 and TI is the way to go.
- Couple of suggestions shared during the month related to TradeIdeas could be found here:
- https://stockbee.biz/tweet/597272/#comments
- https://stockbee.biz/tweet/597569/#comments (this one already has another upgrade I will share soon, but think what could be missing here? :) )
- I have a blog…
- When starting the journaling, one of you guys suggested making a blog in the comments. I thought for a couple of days, and in the spirit of fast innovation, I made it… If someone tells me in August that I will have a blog, I will laugh about it, and here I am…It's October, and I have a blog, a youtube channel, and a video on it. My main goal is to be a Pro trader, but if the information I get while working on my dream can be helpful for another trader, then let me put it in a well-organized way. Let's see how this project could grow.
Self-Leadership & Mental State:
Iterative Thinking
Something cool started happening. While learning TradeIdeas, I was adjusting the alerts and top lists and testing them during active hours. I was paying attention to how I am alerted and what data the TC2000 and TI are giving to make decisions, and then I was asking myself? “am I missing something?”, “is the current process telling me the right things at the right time?” if I didn't see something but found it after trading hours, I would be like: “why didn't my system tell me this happened on the market?”. These questions are followed by adjustments to the setup as a new iteration, testing it in the market, thinking, and then adjusting another iteration. In October alone, I did more than 50 templates saved in TI and made some changes in TC2000. From where I started to where I am now is a big difference, and it all came from this iterative way of doing it that I found super efficient. It's like how the app development works when you get version 1.0, 2.0, 3.0, etc. I encourage you to get into this iteration flow to upgrade your factories and processes.
3 Monitors is Jazz
I now have one 32’ monitor and two 27’ monitors, and it's a very Pro experience. I need one or two more monitors :). I encourage you to get good quality screens and make the work environment and desk a good space for work. I spend a significant amount of my awake time at my desk, so having a modern, clean, nice design setup with a large table, a good chair, and good-quality screens is a decision I am super happy with.
Struggle well
There is a bit of a struggle as I am not a consistently profitable trader yet. I make mistakes and misread the market, and sometimes the situational awareness needs to be corrected, but I try to stay optimistic. The struggle is part of the experience, and I assume you will most likely struggle too. I think that the Self-leadership framework is critical in these situations. I am surprised by how much my self-leadership is tested in my trading journey, and I try to allow myself to struggle well within the limits of common sense. I took some days off to collect apples at a farm and be with my relatives, which was good to do, so people don't forget to take a break from time to time.
Comments ()