Quote from coolweb:
Thoughts on life.
I've been extremely successful for the past decade or 2. I'm nearing the age of (27-30) bracket, I feel I've slowed down on the success.
I was reading the PTJ thread, Saw J . Arnold age 28 ? running a 3 billion dollar fund I'm wondering, how is it possible I am not at that level.
Its not hard for me to reach that level considering the amount of capital I have, but here its hard to think you can reach that level when no trades appear for a month, its like you are trying to take a shit badly but you have constitpation.
My analysis on Arnold is he takes very large directional risks, espically in NG , Its something I can not do or is it my trading style, Just not possible for my trading method. I hardly trade un-hedged.
To win big you must bet big? There must be a different way to his success. I review warren buffets status when he was 28, I think he probably has the same amount of money I have at the same age , inflation adjusted, We are at similar growth rates, In his earlier years he must have been doing 100% per year annual. I feel like I need to take this to the next level, and pull out a 100% a year (I've never done a 100% a year, mostly 20-30% with 0 drawdown trading). I feel this is the only way to take myself to the next level, I can't just look for 30-40% , I need to over-perform, trade consistently (not miss trades) , and do a few 100% year with full capital.
I compete with myself but I also judge my relative performance with other people around my age, I'm good, but not as good as people I respect. We need to change this. I've slowed down the money velocity past 4-5 years, mainly because I was learning and experiencing money management methods, now Its ramped up again, the money velocity is back.
High Performance must be executed. I must not miss any trades, notice I don't say " I must take more trades" , because taking more trades don't help, I must not miss any fucking trades.
I missed at least 2 trades past 2 months, worth about 5-8% , aka 10-15% depending on how I execute. Thats not good is it?
No it isn't. Vacationing too much, thats the problem, If I want high performance,
a) Consistent daily noteboook note taking must be done.
b) Daily 15 minute session 100 share real money exercises with ES.
c) Scanning every 3 days.
I don't do any of this now, so I think this will increase my game.
Directional prediction, I'm the fking man on this shit, no problem there. Pattern trading, I'll out trade anybody on this board, almost at least. maybe not $costavg
Take this shit to the next level. No missed trades, more Consistent note taking, more 15 minute price action real money exercises. No excuses! I don't think I'm going to short either.
Winners don't fuck around.
