A good week, pretty uneventful even with all the news and volatility
What did I do best this week and how I did I do it?
I followed my plans, managed my energy, and only traded in the volatility when conditions and liquidity had returned to a level, I had decided before the session started.
Overall trades were mainly A grade and each session I spent the majority of time playing my A game. And only trading when it suited my strengths.
Having the second cup of Bulletproof coffee has helped me with my focus in the afternoons. I will continue this.
Basically the best thing I did was to trade in conditions where I was strongest and avoided conditions where I was the weakest.
What did I do badly this week and what lead me to do it?
I spent time giving advice to other traders who are on the same journey but further behind.
Why was it bad decision, as it is a waste of time, and I was too polite to cut it off when I knew I was wasting my time, which was about 2 conversations ago. It is not that I dislike these people, I do like them. But spending time discussing trading with them is a waste of time, I should keep it just social and general chit chat.
It is not a waste of time when it genuinely helps others. But it is a waste of time when the same people, ask the same questions time and time again for me only to give the same answers. Only to get to the next conversation to find they have done little to improve their lot and then ask the same questions again.
It is not helpful to them, as they are obviously looking for a different answer to their question than the one I can give. It is not helpful to me, as it makes me frustrated, as I find to it hard to understand why people that claim to want results, ask for advice and then not do anything to improve their situation.
It is not that following my way is the only way to do it, but as I say on the site, adapt what is useful, reject what is useless and add what is specifically your own.
It is not that asking for my opinion and then following it, is what I want. It is good to disagree and discuss stuff, as it opens our minds to other possibilites but asking my opinion on the same subjects, time and time again because they to hear something that fits with their world view. i.e that it must be possible to make a money by taking 4-8 ticks out of the market everyday with no edge, no plan apart from wanting to make money and taking random trades.
But there are two things I do know
1) Doing the same thing and expecting different results is not going to work.
2) Trading without an edge, trading without a plan, trading without consistency is not going to produce any sort of consistent positive results.
The main reason I posted my stuff is that when trading by myself it is easy to go “fuck it, I will not do my weekly review”. This site gives me a routine and structure, which I benefit from.
The second reason, is I like helping others. That is one of the reasons I post my stuff, if it helps in a small way, then that is great.
And this is not about the others that I give advice to, it is about me, I need to manage my time, and I will work to recognise when I am pissing in the wind and then use my time more wisely, rather than bang on trying to convince other people to put the work in.
It is boring for me and it certainly must be boring for them.