What writing? I might like to read.
Trying to transition from full time job to trading. Having trouble with discipline.
- Thread starter jinxu
- Start date
Looks interesting. The website looks very professional. I notice you have high returns. What exactly is your goal for writing a book and using fundseeder? Books aren't going to make you rich. It sounds like you want to manage other people's money.
You have named your own problem in the title of the thread. Discipline can be developed. This works in different ways for different people. Here is only one idea. Make a written account of what responsible trading would look like for you. Establish a reward for sticking to your discipline each day (or week, or month). It can be a favorite treat, a night out to do something fun that you rarely do, or even just giving yourself points or stars in a notebook or sticking a dollar in a jar. Set a finite time period during which you will follow this trading plan. At the end of the time period, review what you have done and determine whether you wish to change anything for the next block of time. Do it all again. Eventually, you will accept the idea that good trading is boring and you won't even need the rewards.
FWIW, I have tortoise and hare systems, though I never thought to call them that (very creative on your part). The tortoise is a lot bigger (I use about 98% tortoise and 2% hare). The idea some people have suggested here that you simply leverage the tortoise is not a bad one. Some of your decision should naturally hinge on whether the tortoise and the hare are correlated.
I especially like your analogy because I live in a neighborhood full of hares. I probably see 3 or 4 every day in the spring and summer. There is one that has a favorite spot right under the window where my trading computer is. I see him almost every morning as I fire up my computer. I guess he's my little trading buddy. But I know a coyote will eventually eat him!
FWIW, I have tortoise and hare systems, though I never thought to call them that (very creative on your part). The tortoise is a lot bigger (I use about 98% tortoise and 2% hare). The idea some people have suggested here that you simply leverage the tortoise is not a bad one. Some of your decision should naturally hinge on whether the tortoise and the hare are correlated.
I especially like your analogy because I live in a neighborhood full of hares. I probably see 3 or 4 every day in the spring and summer. There is one that has a favorite spot right under the window where my trading computer is. I see him almost every morning as I fire up my computer. I guess he's my little trading buddy. But I know a coyote will eventually eat him!
If you can get 20% a month return with the tortoise, why do you need your hare? With a steady 20% per month, you will be filthy rich in no time. Starting with $1000, in five years you will accumulate over $56 millions.
My tortoise is long term investing and I got way less returns than your 20% per month. My hare? Trading options.
Hehe. What if I want $56 million in 1 year?If you can get 20% a month return with the tortoise, why do you need your hare? With a steady 20% per month, you will be filthy rich in no time. Starting with $1000, in five years you will accumulate over $56 millions.
My tortoise is long term investing and I got way less returns than your 20% per month. My hare? Trading options.
Currently, I do a lot of meditation to try to be more disciplined.
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Read my bio. I already managed other peoples money. I'm in no hurry to do it again. I have plenty of my own. My goal in writing the book was to try and help people trade properly, as there are so few decent trading books out there that address what I think are the most important issues. As for fundseeder read this thread.
GAT
PS thanks for the website kudos. I just did it myself with the free software the domain name provider gave me. I think it's most important to be be clear, without fancy features.
That would be using stocks.
20 lots in ES futures would be only require $50k in an Interactive Brokers account.
shortly after i started trading i was doing 150 lots of full size old school sp's this was when the sp was around 500/600 and i knew it would probably wind up around 900 based on long term yearly std. dev. i rode that and made a fortune all to be lost fading the sp on it's way to 1500.
i moved to options on the sp and strictly 30 year bond trading and made my fortune back over a few years around late 90's early 2000's to lose all that i made in bonds. i then hit on swing trading the sp using the nyse $adv issues and volume, to again make a larger fortune than ever. i stopped trading and lost my ass in the exotic car business, basically day trading exotic cars.
i got in the gun business right when obammie came into office and he has been the best salesman for me ever. but now i have started back trading and what is different now i learned.
all my life i made everything i did for fun into a JOB, we all hate jobs so why do that? do what's fun don't make it a job and you will make a fortune. when i have been on my game it was for the fun of it not the money. so now i trade when i want and i don't want to but a couple of days a week. the rest of the time i do other things and clear my mind but always thinking about trading which i love.
my self exile from what i love makes me more passionate and eager to get back at it when i do. but i stop trading long before i show signs of being burned out. i don't make a job of trading, i make it something to have fun with. this is the key to making and keeping what you have.
again you don't have to work your tail off to make yourself feel worthy that your earning like you did when you work at a job. job's will never make you rich - it will just come when having fun.
m
i moved to options on the sp and strictly 30 year bond trading and made my fortune back over a few years around late 90's early 2000's to lose all that i made in bonds. i then hit on swing trading the sp using the nyse $adv issues and volume, to again make a larger fortune than ever. i stopped trading and lost my ass in the exotic car business, basically day trading exotic cars.
i got in the gun business right when obammie came into office and he has been the best salesman for me ever. but now i have started back trading and what is different now i learned.
all my life i made everything i did for fun into a JOB, we all hate jobs so why do that? do what's fun don't make it a job and you will make a fortune. when i have been on my game it was for the fun of it not the money. so now i trade when i want and i don't want to but a couple of days a week. the rest of the time i do other things and clear my mind but always thinking about trading which i love.
my self exile from what i love makes me more passionate and eager to get back at it when i do. but i stop trading long before i show signs of being burned out. i don't make a job of trading, i make it something to have fun with. this is the key to making and keeping what you have.
again you don't have to work your tail off to make yourself feel worthy that your earning like you did when you work at a job. job's will never make you rich - it will just come when having fun.
m