Okay, I got my blog template back. Still working on some of my links. Bear with me.

Today the FOMC reports in 15 min.

My stops are in place. I only have 2 positions in: RIMM and FCX.

There has been a lot of major events going on with me in the past week plus, so I am trading lightly as my judgment may be impaired.

I now have an accountability partner to help give me the extra edge that I need to get to where I need, to give me that extra umphf (sp?), especially when my spirits are down. If I know others are watching or counting on me to be impeccable with my word, I'm more apt to follow through.

For those who follow my blog, it seems like I'm forever apologizing about my sparsity in trading, but this is the way it is for awhile. When your life gets turned upside down, sometimes coming to right side up and back on course takes some time. Yes, it is taking weeks and months. But, this is real life for me, one trader doing the best I can with life stuff.

This market, inspite of all my training, has created a level of fear for me. One can only take so many costing trades. You MUST manage your risk no matter how big or small your account is. Sure, you can bet the whole farm and if you profit, awesome, but that just reinforces bad habits. A part of managing risk is the size of your positions, what positions you take, the timeframe for your trades, the ability to attend to your trades, asking for inputs from those who understand your style of trading and perhaps can add an additional element to compliment your trading, setting stops appropriately. These are all a part of risk management.

Speak your trades out loud. Tell your kids what you're trading, or your dogs, or a trading partner. When it's verbalized, there is something about the power of that that will help you gauge whether how you're trading is correct or not.

One thing I'm finding is that I cannot sit and just watch the markets go all trading day long. That just makes me at times sick to my stomach or a high as a kite. It's like riding some thrilling, super fast rollercoaster. No thank you. Understand where your entries and exits are. For me, the best trades I make are when I'm calm and relaxed. Set your alerts or put in your contingencies to electronically go off.

God has really put a lot of people in my path over these weeks to pray for my situation. I'm not talking about trading as much as I am about my personal life. Perhaps we want to say that our personal lives do not impact our trading, but I think the more "stuff" going on, it does. As I enter into a new phase of my life, the adjustments are many. It is requiring me to reach out to others for help, to ask for what I want, to be humble enough to do this.

Many tears have been shed over my situation, and there have been times I wondered if trading is for me. I have been humbled by the market many times. In the past, thoughts of being able to beat it were always on the forefront, but from about 1.5 yrs ago, I recognized the market is always right and it doesn't matter what I think. To peacefully, profitably co-exist with the market is not a task that can be readily achieved just like that for the majority of folks, myself included.

Anyway, I see the Fed's cut by 1/4 percent. If the cut was 1/2 percent, then would that mean there is greater concern for the economy than at 1/4 percent? I see the initial reaction to the news on the market is a drop. Sort of like a pressure relief valve. I'll just watch to see how it settles out.
0 Responses

Amazon Store