2010 New Year's Resolution

P

Pension_Admin

It has been a rough 2009. I made a few mistakes: A couple career mistakes and a lot of trading mistakes, which both have impacted my life in a way. However, I am glad that I got the opportunity to learn full-time from a lot of great traders on this board. I, as a trader, have evolved and I appreciate all of you for my evolution.

However, I am still trying to break even, but I feel like I have finally "got it" or at least I am much closer to "getting it" than a couple of months ago.

Overall, 2009 was a great learning experience and I hope one day I will be able to look back from a better place and go, "2009 was my turning point."

My New Year's (Trading) Resolution is to be disciplined in capital preservation.

Please feel free to add your own thoughts and your own resolution(s) in this thread!

Thanks!

PA
 
My new year's resolution is to minimize trading errors. Trading errors caused me to have a good year, rather than a stellar year. If I can just simply minimize these errors, my plan should provide me a very phat 2010:)
 
The ONLY thing that defines us (successful traders) is how we manage losers

Losing trades will happen


Both - always has & always will


Once one truly get their head wrapped these absolute facts – the quicker one will understand nothing else really matters


Btw this is why it is so easy to differentiate those who are..., from those who are trying..., from those who (well you fill in the blank – I don’t feel like being ugly tonight as Santa is on his way) :)

And Yes I believe in Santa – till the day I die


Merry Christmas All

RN
 
Quote from Redneck trader:

The ONLY thing that defines us (successful traders) is how we manage losers...
More...

I totally agree with you on managing losers. It is a crucial skill every traders need to learn before they evolve into a speculator.

As for Santa Claus, he never give me anything for Christmas. :( I am the only one who give myself presents every year (when I had a job), so I am my own Santa Claus.
 
My resolution is to stop overtrading and on a related note to have more patience to let certain strategic trades play out.

For the last two years that fault has been the different between being flat both years instead of being up monstrously.
 
Quote from Redneck trader:

The ONLY thing that defines us (successful traders) is how we manage losers
More...

Absolutely, but don't forget the other end of the equation, and how we manager winners.

No heat
 
Quote from No.Heat:

Absolutely, but don't forget the other end of the equation, and how we manager winners.

No heat
More...

N.H.

My bad – you are correct of course

I had Vespian and BP in mind when I posted that

See Ya
RN
 
Quote from Redneck trader:

The ONLY thing that defines us (successful traders) is how we manage losers

Losing trades will happen


Both - always has & always will


Once one truly get their head wrapped these absolute facts – the quicker one will understand nothing else really matters


Btw this is why it is so easy to differentiate those who are..., from those who are trying..., from those who (well you fill in the blank – I don’t feel like being ugly tonight as Santa is on his way) :)

And Yes I believe in Santa – till the day I die


Merry Christmas All

RN
More...

another good post from RN.

if there is anythng even remotely close to a holy grail, how you mangage loss/risk is it. a close second, imo, is how you manage winners.

my new years resolution is to stop trading and take a day (or two) off after a big run. also, i will try to quit trading early on a day where i make a large amount early in the day. i have a pattern of doing really well early in the morning and then giving some of it back from becoming overly confident and trading too loose.
 
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