Thanks for all of your feedback! Since I have an entire year to experiment with this, then why not use 1 month in January to see how it goes. I'm in the early stages of interviewing several companies. After a few rounds of phone and onsite interviews, paperwork, background check, and other usual stuff, it can easily burn the entire month of January before I get back on the saddle. Also it's the holidays. I might be lucky and start in mid January. But having been through many interview process, it will more likely be late January to end of January or even early February before the dust settles.
So that gives me 3-5 weeks. I know that's extremely small sample points! My point is now that I know the errors of my ways(not cutting losses fast enough and doing countertrend trades), I need to see for myself that I can follow those rules the next 3 - 5 weeks. If so then I should be making 6x what I normally make in a month trading(because my losses cut deep into my profits). If I'm not seeing those kinds of results then I will know I'm still got a LONG LONG way to go! Then I'll take that job and gradually improve and tweak my trading.
I'm a believer in processes. If you can follow the right process and not worry about money etc. then in the long run you will be ahead. Assuming the process you've created are the good ones.
I can also always trade longer term while holding down a job. But my there's a lot of intraday noise that i have to avoid looking at if I'm going to do longer term swing trading. Many of my mistakes come down to mixing the timeframes. I look at the daily chart then I enter on the intraday chart. Then intraday it goes against me so I panic and get out at a HUGE LOSS from an intraday point of view. Then the next day it zooms up a WHOLE LOT like my daily chart said it would do. Maybe my timing is slightly off for daily trading. I think the Holy Grail is to use the intraday weakness and time it just right and get in at the right spot. Then the next day it goes back up as the daily chart would show so. That way I don't get shaken out by the intraday volatility. For swing trading I have to trade significantly smaller and probably have to invest the time to build systems to automate that. That's a huge investment in time and energy. Just some thoughts.
So that gives me 3-5 weeks. I know that's extremely small sample points! My point is now that I know the errors of my ways(not cutting losses fast enough and doing countertrend trades), I need to see for myself that I can follow those rules the next 3 - 5 weeks. If so then I should be making 6x what I normally make in a month trading(because my losses cut deep into my profits). If I'm not seeing those kinds of results then I will know I'm still got a LONG LONG way to go! Then I'll take that job and gradually improve and tweak my trading.
I'm a believer in processes. If you can follow the right process and not worry about money etc. then in the long run you will be ahead. Assuming the process you've created are the good ones.
I can also always trade longer term while holding down a job. But my there's a lot of intraday noise that i have to avoid looking at if I'm going to do longer term swing trading. Many of my mistakes come down to mixing the timeframes. I look at the daily chart then I enter on the intraday chart. Then intraday it goes against me so I panic and get out at a HUGE LOSS from an intraday point of view. Then the next day it zooms up a WHOLE LOT like my daily chart said it would do. Maybe my timing is slightly off for daily trading. I think the Holy Grail is to use the intraday weakness and time it just right and get in at the right spot. Then the next day it goes back up as the daily chart would show so. That way I don't get shaken out by the intraday volatility. For swing trading I have to trade significantly smaller and probably have to invest the time to build systems to automate that. That's a huge investment in time and energy. Just some thoughts.
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