Bottom Line On ES Wk of 17-Nov-2008

I have been working very aggressively on the psychological aspects of trading, which encompasses mental, emotional, spiritual and intellectual stuff. Last week when I went to my chiropractor's office, the newer chiropractor did muscle testing of my body's systems.

One of the things he's identified was my right brain was very weakened. This is the creative side, the emotional side. Yes, a nasty separation, divorce, no vacation, financial challenges, single parenting, blah, blah, blah and no real respite during all this time. I hadn't been out of the metropolitan area for nearly 1.5 yrs, and I really needed time away.

Anyway, so I took the weekend off and went out of town to the mountains. It wasn't a long trip, but stayed teh night there, saw pine trees, did some hiking, just relaxed and enjoyed driving (normally I don't like to drive) and the peaceful scenary as I listened to Harv Eker talk about "The Millionaire Mindset". It was very motivating to listen to him.

Anyway, here is the bottom line for me for the week:

Profitable Trades = 23 (88.5%)
Costing Trades = 3 (11.5%)

Total Trading Time = 4.18 hrs

Total Profits = $2412.50
Total Costs = $250.00 (10.4% of profits)
Total Commissions = $103.74 (4.3% of profits)

Net = $2058.76 (206% ROI on capital) or $492.52/hr of trading

I need to check what I did for last week and I'll post what I have.

So, if I can make nearly $500/hr in trading, why don't I trade for longer? It really is a law of diminishing returns for me. It takes a great deal to stay so focused. I don't want to be glued to the computer all this time, as much as I like trading and being on my computer.

So, taking this weekly amount, multiplying by 48 weeks, that's nearly $100K for the year. That still gives me 4 weeks of vacation with absolutely no trading. Except, my workweeks are usually under 5 hrs a week. Not bad, eh?

I went from making near this for a salary (more with compensation) as a senior level engineer working 40 hrs/wk, plus commuting and waking up at ungodly hours to go to work, restrictions on my time, and now I can make more money, working less, and have a great quality of life. Not bad.

I'm very far from a millionaire and still very much in debt, but the money that I don't need to live off of can go towards paying down debts. As I free myself from self-limiting mindsets, habits, behaviors, my trading success can only get better.

It's really irrelevant what the market is doing, because if you're focused and you know what you're doing, you can make money in any market under any market conditions. If you can't trade the market, it's not the market. It's you. In my case, it was me. No excuses.

Life really is short. Now I'm going to go do a rough recap of last week and compare to this week.
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