I'm back!
Here are links to my previous 2 journals.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=20640
http://www.elitetrader.com/vb/showthread.php?s=&threadid=41981
Reading back on these is pretty funny stuff. I was so clueless and arrogant it is embarrasing to read.
Here is a recap of my trading history:
Journal 1: I scraped together 3k or something like that and decided I was smart so the market was to be my toy. I jumped in to 4 methods right off the bat and got my butt handed to me.
Journal 2: I came up with 5k, got on with a prop type deal where I could daytrade stocks, and jumped into it. I lost about $500 with a method that killed it on paper. For some strange reason, while papertrading made me rich, real trading lost money. Ha!
Right around this time I discovered online poker. I got a deal propping(getting paid to start/keep shorthanded games going) and realized immediatly that this was a much more realistic way for me to make money than trading.
Long story short, I played for a living for two years, barely scraping by at 5/10, until about 6 months ago. I then got a job painting houses making 15 bucks an hour. I was so burned out on poker I took about 4 months off from it.
I now play on the side, and when I play I am always playing my best, and it is always fun! I've gotten to a point, skill and bankroll wise, that I am killing the 10/20 6/max game and making way more playing than I do working. I want to spend a while at 10/20 before venturing higher, So....
I figured it is now time to get back into trading. Fortunatly for me, I have developed a brain the last few years!
Its funny reading my old journal I think I understand a lot more of the "fish" mindset. I had it! Now that I have actually gone from a point of novice to expert in something(poker) I realize how little I actually knew about trading. I also see the many similiarities between the two activities.
Here are my basic plans at the moment.
I most likely will get laid off from painting at some point in the next 6 months. If that happens I will take a few months to try trading before I get another job. I am in no hurry to jump back into it.
I plan on trading 1 method, most likely no_pm's divergence method. I like it because it doesn't trade very often, and I really like the logic behind it. I can quite easily keep one eye on the chart while I keep busy at the poker table. I really want to get one method down cold, and then jack up the size as bankroll allows. I am extremely conservative in that area now after some rocky times in the poker world.
I plan on setting aside 5k the next few months to do this. I figure that is plenty for one ES contract, and as I gain experience I will get a better idea of the swings involved in trading. I suspect it is much easier emotionally than poker!
I can make a good living playing poker now that I have a big roll and what not, but I just don't like doing it for a living. I would really like to have two activities that provide income, and I would like the other to be trading. We will see how it goes I guess.
Other stuff: I am married now and wife is pregnant! I am very involved at our church, and wife/kid/God are my priorities. Poker and trading are secondary, and I am working on getting my painting contractors license. That will give me a big raise!
Why the journal??
Not sure. Mainly I don't have any friends that are at all interested in poker or trading, and just want to share ideas with other people that share these interests.
Edit to add: Got my history a little mixed up. I started playing poker near the end of journal 1, and ran good at first, thinking I was hot stuff. Then it all went to crap(no suprise reading my postings from then) and I got a job to go with my humble pie. I then heard about propping around the start of journal 2, and decided to give it another go, doing it right. It went well!
Here are links to my previous 2 journals.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=20640
http://www.elitetrader.com/vb/showthread.php?s=&threadid=41981
Reading back on these is pretty funny stuff. I was so clueless and arrogant it is embarrasing to read.
Here is a recap of my trading history:
Journal 1: I scraped together 3k or something like that and decided I was smart so the market was to be my toy. I jumped in to 4 methods right off the bat and got my butt handed to me.
Journal 2: I came up with 5k, got on with a prop type deal where I could daytrade stocks, and jumped into it. I lost about $500 with a method that killed it on paper. For some strange reason, while papertrading made me rich, real trading lost money. Ha!
Right around this time I discovered online poker. I got a deal propping(getting paid to start/keep shorthanded games going) and realized immediatly that this was a much more realistic way for me to make money than trading.
Long story short, I played for a living for two years, barely scraping by at 5/10, until about 6 months ago. I then got a job painting houses making 15 bucks an hour. I was so burned out on poker I took about 4 months off from it.
I now play on the side, and when I play I am always playing my best, and it is always fun! I've gotten to a point, skill and bankroll wise, that I am killing the 10/20 6/max game and making way more playing than I do working. I want to spend a while at 10/20 before venturing higher, So....
I figured it is now time to get back into trading. Fortunatly for me, I have developed a brain the last few years!
Its funny reading my old journal I think I understand a lot more of the "fish" mindset. I had it! Now that I have actually gone from a point of novice to expert in something(poker) I realize how little I actually knew about trading. I also see the many similiarities between the two activities.
Here are my basic plans at the moment.
I most likely will get laid off from painting at some point in the next 6 months. If that happens I will take a few months to try trading before I get another job. I am in no hurry to jump back into it.
I plan on trading 1 method, most likely no_pm's divergence method. I like it because it doesn't trade very often, and I really like the logic behind it. I can quite easily keep one eye on the chart while I keep busy at the poker table. I really want to get one method down cold, and then jack up the size as bankroll allows. I am extremely conservative in that area now after some rocky times in the poker world.
I plan on setting aside 5k the next few months to do this. I figure that is plenty for one ES contract, and as I gain experience I will get a better idea of the swings involved in trading. I suspect it is much easier emotionally than poker!
I can make a good living playing poker now that I have a big roll and what not, but I just don't like doing it for a living. I would really like to have two activities that provide income, and I would like the other to be trading. We will see how it goes I guess.
Other stuff: I am married now and wife is pregnant! I am very involved at our church, and wife/kid/God are my priorities. Poker and trading are secondary, and I am working on getting my painting contractors license. That will give me a big raise!
Why the journal??
Not sure. Mainly I don't have any friends that are at all interested in poker or trading, and just want to share ideas with other people that share these interests.
Edit to add: Got my history a little mixed up. I started playing poker near the end of journal 1, and ran good at first, thinking I was hot stuff. Then it all went to crap(no suprise reading my postings from then) and I got a job to go with my humble pie. I then heard about propping around the start of journal 2, and decided to give it another go, doing it right. It went well!
Mod can you move this please? Sorry. 