Last Pieces of the Puzzle Journal
- Thread starter ps0013
- Start date
Putting My Current Goals In Writing (I already have a short version of them in writing that I carry around with me)
Based on the the extent of the history here, including the most recent past my goals may sound laughable.
But I am not laughing.
Three Stage Goal:
1. I will double the size of this account (before the end of January 2020)
2. When I have doubled the account, or some time toward that goal when I am confident in making a consistent & growing profit, and I can control loss and draw downs, I will take the next step and make a larger deposit $50-70k. During this period 1-2-3-4 months I will continue to work the account, prove to myself that it is possible and when I feel ready I will leave my current work world and become a Professional Trader.
3. Grow the account to have security for me and my family. Build Wealth.
Based on the the extent of the history here, including the most recent past my goals may sound laughable.
But I am not laughing.
Three Stage Goal:
1. I will double the size of this account (before the end of January 2020)
2. When I have doubled the account, or some time toward that goal when I am confident in making a consistent & growing profit, and I can control loss and draw downs, I will take the next step and make a larger deposit $50-70k. During this period 1-2-3-4 months I will continue to work the account, prove to myself that it is possible and when I feel ready I will leave my current work world and become a Professional Trader.
3. Grow the account to have security for me and my family. Build Wealth.
Well, that plan didn't work...
10/03 Thursday I was knocked right off of the spot I was feeling good standing on.
10/04 Friday as my account had gone below 25K I made too many not great attempts at getting back above the PDT mark before the end of the day. Didn't work.
So, instead of putting in a few thousand more and being concerned about how close I am to 25k, I upped-the-ante and put in 50K.
Stupid, you might say. What will you do different, you might say.
The plan is being formulated.
The good things stay.
The bad things are now out.
New things will be looked at and tested.
I will be a sponge to information.
I will be looking at profit and loss in points, not dollars.
The pace will be slow. The account will grow.
I will be patient.
That is all I have to say about that.
10/03 Thursday I was knocked right off of the spot I was feeling good standing on.
10/04 Friday as my account had gone below 25K I made too many not great attempts at getting back above the PDT mark before the end of the day. Didn't work.
So, instead of putting in a few thousand more and being concerned about how close I am to 25k, I upped-the-ante and put in 50K.
Stupid, you might say. What will you do different, you might say.
The plan is being formulated.
The good things stay.
The bad things are now out.
New things will be looked at and tested.
I will be a sponge to information.
I will be looking at profit and loss in points, not dollars.
The pace will be slow. The account will grow.
I will be patient.
That is all I have to say about that.
Day 1 of this new chapter.
Plan is to have 1 to 2 trades.
Track them through the day.
Exit if they hit my stop.
Monitor profitable trades, be patient let them run.
Possibly hold a position overnight which would be something new for my strategy.
Even though the account is well funded, I will stay at 100 shares per trade right now.
Risk at about .0028%, less than 1/2 a percent.
Track my progress.
Kick some ass.
Take some names.
Plan is to have 1 to 2 trades.
Track them through the day.
Exit if they hit my stop.
Monitor profitable trades, be patient let them run.
Possibly hold a position overnight which would be something new for my strategy.
Even though the account is well funded, I will stay at 100 shares per trade right now.
Risk at about .0028%, less than 1/2 a percent.
Track my progress.
Kick some ass.
Take some names.
I really didn't transform myself into the conservative trader that I wanted to be today. My first trade hit my stop pretty quickly and after that I wasn't able to be as laser focused as I wanted to be. I entered a number of trades that didn't have the potential gains that I am looking for and I ended up just closing them out and causing small losses + fees.
I also can't really use today as an example of looking at my results in points, as I over traded and increased share size on some of the winning trades.
I closed out:
+211.61 gross.
11,200 shares (Should have been 200-600)
Happy that I don't have a loss here in Day 1.
I didn't really kick any ass or take any names today.
But I will be on the hunt for those names and assess.
Looking forward to tomorrow and feeling motivated to getting better....
I also can't really use today as an example of looking at my results in points, as I over traded and increased share size on some of the winning trades.
I closed out:
+211.61 gross.
11,200 shares (Should have been 200-600)
Happy that I don't have a loss here in Day 1.
I didn't really kick any ass or take any names today.
But I will be on the hunt for those names and assess.
Looking forward to tomorrow and feeling motivated to getting better....