It’s Time To Start Trading Again…
OK, enough is enough. It's time I got back into trading. When I decided to take the initial hiatus, I did so in order to get a few projects off the ground. I had to. Trading
OK, enough is enough. It’s time I got back into trading.
When I decided to take the initial hiatus, I did so in order to get a few projects off the ground. I had to. Trading is very time consuming if you are taking it seriously. Not only that, but when you love doing it, it becomes had to devote time to anything else.
At the time when I decided to take a break, I was engrossed in it – as such my other projects began taking a back seat and I couldn’t allow that to happen. I have a daughter and have a couple of businesses in which I am pushing. I do consultancy work for businesses looking to increase revenue and on top of that, I do VR events. In a nutshell, my life is somewhat chaos… but in a great way.
That said, I miss trading. I have a few systems that – when I stay vigilant – are proven to see a good return. So I will only be concentrating on them for the time being. Easier said than done as I was constantly looking at markets I didn’t fully understand, looking for hidden treasures. So I will need to remain tenacious and stick to this to ensure my other areas of business do not suffer as a consequence.
I enjoy challenges. I enjoy documenting them and watching them grow. That said I certainly did them with the wrong intentions – or more to the point… the goal. In the past, I had always tried hitting a target and although I never really set any time-frames, the end goal was always in mind which sometimes caused me to take more risk than I was normally comfortable with.
There is also the issue of knowing yourself and understanding when your head isn’t in the right place. This is probably the most difficult for most people and is certainly my kryptonite. My trading and systems works and the only time when I encounter problems is when I trade in the wrong mindset.
So let’s look at the factors on hand for a moment and look at what I need to address coming back to trading…
- Challenge parameters
- Trading systems and services
- Ensuring other commitments aren’t affected
Let’s address the challenge parameters for a moment. As mentioned previously, I had always had the wrong goal in mind – putting financial targets in place as something to try and achieve. That can’t be the case for me here as it allows me to enter the wrong mindset when trading. Therefore I am just going to have a target of 200 days – no financial objective apart from not blowing the f’ing lot. This will allow me to track my progress as if I was trading full-time while fitting the ‘challenge’ around my main sources of income.
With the issue of mindset, this is undoubtedly where every newbie trader fails. You can buy eBook after eBook on trading and yet hardly any touch upon mindset as the defining factor between success and failure. Therefore I am going to set up a chat group for traders who struggle with this. Why? Because it’s good to help others. We all have to start off somewhere and having a group of people all working on a common goal of ‘getting their shit together’ is something that I would enjoy helping people with.
In relation to systems and services, I know that the systems I have work. However, it would be silly of me to only use these when there are some great services out there. The two that I will also be using are Trade On Sports (run by Pete & Matt) and Hunting For Profit. Both these services have shown a consistent return on investment and it would be insane not to use these alongside my current systems.
I won’t be starting this journey immediately. I am away for the next month on business in Malaysia and London and I simply won’t have the time to trade until I return towards the end of April. But it’s coming… and I’m looking forward to it!