Simplification, Organizing

I continue on organizing my finances, simplifying things. Hopefully very soon, in the next couple weeks I can make some huge strides here -- reduce the number of accounts I have overall, so there is less to keep track. Also minimizing expenses so I don't have as much "stuff" to keep track of. That will be good.

After going through so much paperwork, there is just too many things I've been involved in, as well as cleaning up the messes from my divorce. Fun stuff. Eventually as I hang in there, am diligent about continually organizing, attending to things that need me to take action, things will get better. I'll also have to include making tough decisions about things.

The goals I have may not be a great thing right now, but I'm also looking for relief right now so I can also reduce my stress, allowing me to trade better.

Organizing for success, tackling tough stuff, being truthful, especially to myself, and sucking it up to do what is necessary, and disciplined to follow through to completion. Until I make some great strides in my financial things, it's not wise for me to be trading, as the nature of the type of daytrading I do is fast, requires a sharp mind and focus.

All this financial clutter is causing undue stress, so gotta clear my plate. That's what I'm doing.

If you're not experiencing the trading success you want, you might look to see how orderly your financial situation is. Do you know exactly what is going on? Are you attending to the things you need to? Are you being totally truthful and responsible with everything? Ignoring things will not help.

Streak

I would have to say trading over the past 6 months has given me a myriad of results from phenomenal to something that is very different than I'd like to admit or even see. Things are what they are, and yes, the trading strategy has changed, much more simplified.

Prior to simplification, I was experiencing some great success. However, there was that nagging feeling that things would come crashing down. It did not. But, as I further analyzed my trading, I found that I was not consistently following my very complicated trading strategies -- there were many deviations. It was not reproducable.

What that means is I could not go back to any random trade and say, I followed Trading Strategy A to the T, because I incorporated some of C and Q to A because of this and that. I wasn't THAT meticulous in my documentation, nor trading. In the end, it's my thoughts that that is dangerous. Bad habits eventually lead to not good things happening. It leads to a false sense of success.

Nothing happened to my accounts, just being aware of that nagging feeling.

That feeling has gone now, as I developed a solid simplified trading strategy that I can go back to ANY trade and see whether I followed the plan or not very precisely. It's been tested quite a bit, but right now, I'm hashing it out with myself to stick to my trading strategies to the T.

It is still a discrete system, and there is still some judgment involved. For example, at the time of trading, it "looks" like the trend in RSI is being broken, and I get into the position. However, when that point closes, it closes within the trend, and thus, I entered the trade at the wrong time.

Maybe at some point, I may say that's too discriminatory. Not sure. Will have to re-evaluate. There are other things that must come into play in this decision:

1. Where are you - location? (i.e., fib location, support/resistance)
2. Set stops tightly if you want to get out quick, especially if you're wrong.
3. Set stops loosely if you want to give it room to work, and leg in several times, perhaps.
4. Volume, MACD confirmation?
5. Big picture? Smaller picture?

Anyway, I'm also going through some major personal financial things right now. Trade cautiously. Going to drop my goals down to very basic of what I started months & months ago to keep me still trading every day, but reducing pressures of really needing to make lots of profits until these things I'm doing financially are over.

Live to trade another day.

Taxes, Financial Organization, Challenges

It seems like apologizing to my readers for not consistently writing is a thing I've been doing a lot lately. Life is what it is and I'm living life.

Let me catch you up to date.

Having financial pressures and many of them is certainly not the ideal way to trade. I'm not exception there. As I've written in other sporadic posts, I've been dealing with a tax situation that has been quite scary and harried to me. It's finally come to an end as of this past Friday late afternoon. After nearly 2 yrs, it's now finally under control and the tax man is satisfied with my stuff and said they would no longer keep after me for this and that.

There is still some action items for me to do in the future, but that's the future and the pressure I've been feeling for the past near 2 yrs is over!!! Praise God! That has been a huge stressor. I recognize that nothing is a stressor unless I deem it so. And, in my mind, I deemed it so. Didn't know how NOT to not attach that meaning to it.

Everything is caught up and up to par now.

My body has been tired after this, as my mind, spirit, and heart. It's been a big drain over all this time, back and forth, waiting, this and that. The gentleman that helped me at the end was incredibly nice. Praise God!!!

Paperwork is not something that I enjoy in any realm, but it's a necessary thing in order to be successful, especially financial organization. I've been working on that, too, and finally got back down to the paperwork portion yesterday afternoon and evening. That's now completed.

There are things I do need to address today and this coming week, and though they are big things, too, at least the tax thing is finalized. Yay God!! To let you know how much stress that has been, my menstrual cycle hasn't come the past few months as the tax situation greatly ramped up. It came on Friday after dealing with the tax man and ending the situation.

As for my trading, hate to admit this, but the past 2 weeks, though I've had some nice profitable trades, the costing trades net exceeded the profits to have 2 consecutive weeks of net costs. Rarely does that happen, but I probably shouldn't have been trading with all the tax & financial stuff I had going on.

On top of those things, I've had some major computer/internet challenges that have taken literally many, many hours to resolve - lots of frustration and even some anger. It's brought out many emotions. And, don't forget, I'm a single parent with very active children and regular duties, and dealing with a former spouse.

I've decided with my former spouse, I will no longer think, write or speak negatively about him. Some stuff I was reading by Yvonne Oswald really convicted me about this area of my life. I will only speak good things into his life, no matter whether we disagree or not or things or going in my favor or not. The Bible says that by doing so, we make even our enemies to be at peace with us. I began putting that into practice Wednesday, and communications with him as been peaceful and amicable, reasonable. Not sure if that did it, but something did. I'll just praise God, nonetheless.

We do what we must do to get our lives in order. As a daytrader, I've found that I cannot totally separate everything in my life to just trade. My focus isn't that focused yet. Daytrading has really caused me to address all the emotional junk in my life. That's really not a bad thing, rather something that is greatly benefitting me by helping me be more aware and create healthier, exciting relationships & situations.

Life is what we make of it. How are you making your life? Be honest.

Amazon Store