'Tis better to have loved and lost, than to never have loved at all.
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It's been just over a year since I started this blog to document my journey in trading. The original goal was to use this blog as a trading journal to help progress me to the point where I can trade for a Living.
I originally started out swing trading, since that was all that I knew how to do at the time. Then I expanded my knowledge base to swing trading options. The options trading went a long way to help me understand risk management.
Then I started daytrading equities, and eventually moved to daytrading Futures. I originally switched over to trading Futures because I thought it would help me improve upon my discipline and patience issues. Unfortunately, time has run out on me.
As I previously alluded to last month, I haven't been able to generate income on a consistent basis. Given enough time, I am confident that I could increase my consistency. It sounds naive now, but I thought 6months to 1 year would have been enough time for me to get to the stage where I can trade consistently. But I no longer have the luxury of time, so, I have decided to accept an offer of full-time employment with a high tech company. I suppose that this setback could be interpreted as a failure to achieve my objectives. However, how could I have possibly known whether or not I would succeed at this vocation without giving it my best shot and trying it out?
Trading Futures has been without a doubt the most challenging thing that I have ever tackled so far in my life. The challenge was good and bad. Dealing with mental challenges can be very draining, but at the same time, I think it is something I need in order to improve myself as a person. It was really an opportunity for me to discover in a personal way how much I have to learn about patience and discipline. I have no hesitation in saying that it was, is, and will be my vocation of choice - if money were not an issue.
So, this is not a goodbye, but more of a journey that has been put on hold - until the time is right to re-visit daytrading Futures.
I still plan to swing Trade stocks, since that can be done minimal interference with my full-time job. Blogging might be a bit sporadic until I settle into the routine of the 9-to-5 full-time job.
Friday, October 12, 2007
All Good Things Must Come to a Pause Button
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8 comments:
I'm sorry to hear that, I didn't get to know you for such a long time but I did put your blog on my "to watch daily" list, and had fun reading and learning from it.
It is sad that you have to put your dream into a pause, until you figure out things, but I believe it is the right thing to do now,
I've been trading stocks for the last 3 years and I find the journey very hard and far, swing trading can be very rewarding, but at the same time futures wink at you for the fast gains, and then your money supply start to deplete, I do work at a full time job in hi-tech, but I live in Israel, and here when I get back from work it's 12:30am your time, so I can day trade in the evening, so I get to study a lot about the second half of the day..
I hope you will stay with us and blog your journey in the swing trading world, and I wish you to never lose faith, always believe that one day you will be consistent in day trading, and it will happen,
Best of luck in your new way, Tom
Congrats on getting the new job and I hope that it works well for you. Transitions take a bit of work but you'll be fine and I maybe you'll be able to return to swing trading.
Best wishes in your new position.
Tomer, Tyro,
Thanks for the well wishes, and thanks for reading my blog.
I've already started researching my swing trading strategy, will start posting something once I get "adjusted."
Phileo...
I have always wished you nothing but success, good fortune, and happiness.
It will all come to you. I am sure of it! You are brave and have already done what many wish they could do. Tou will succeed! I know it. I still have faith in your.
Hugs to you and yours!
Take care my friend.
Best of Luck and never give up on the Dream !!!
Your blog has been at the top of my daily online reading list for the past couple months, it's sad to hear of it coming to a (temporary) end.
However, from here it looks like you've handled your setbacks with aplomb. You reached your risk limit, and instead of going out swinging until margin call, you gave yourself a break to regroup and resupply.
Best of luck at your new job, I hope you keep studying when you have some time. Perhaps you'll find that without monetary pressures hanging over you, your mind is free to evolve your trading strategies in ways it couldn't before.
-D
TGoddess, Banker, Anonymous,
Thanks for the well wishes.
There's probably a million different reasons to rationalize why I performed so inconsistently, but when it comes down to it, I just didn't get the job done.
And no, I haven't given up on this dream. I know what I need to do, and once I feel I am ready, I will get back onto the horse - a round2, if you will.
Hi Phileo,
I recently found your blog and am much impressed by your informative articles and posts, also surprised to see you have added me to your blogroll. Thanks! I will return the favor.
Your blog is beneficial to traders in all time frames.
Best wishes on your new endeavors and hopefully you can continue swing trading.
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