1/1/20 TTB Update and some REFLECTIONS!
2020 is here! Happy New Year to everyone at the TTB family. It is an honor and privilege to have you all a part of the community!
As I reflect on 2019 I have decided, instead of resolutions, to “adjust” my life in positive ways. Resolutions seem to never stick with me, so this year I am reflecting and taking action in various elements of my life, both trading and away from trading.
I would like to share these “adjustments” in a way that may help you in your journey as well. I figure if I am having struggles, that others might be having the same. What I would like to do is basically go over a work day of mine and touch upon these areas!
I start my day heading straight to the computer for chart review, news reading, and a plan of attack on the day. I think this routine is solid and am going to continue without change. Upon completion of this, I go for a 30 minute walk with my dogs, eat breakfast, shower, and then get back to my desk by 9:00 am eastern.
ADJUSTMENT: I have decided that I am going to wake up 30 mins earlier and get a moderate aerobic workout in along with light weight lifting. My goal this year is to drop 15-20 lbs and get back to my weight I was at in college. To go along with this adjustment, I am going to try my very hardest to eat less sugar and bread, and drink much more water. I am not cutting anything out, rather simply going to make better choices at the dinner table that will hopefully cut down my caloric intake in a slow and steady way that I can sustain. I have found that diets don’t work well for me as I lose the weight, then ultimately gain it all back and a little extra. Hoping this life “adjustment” will allow me to sustain and feel healthier!
I feel like my software setup is solid along with my computer specs for now. No change there which brings me to my trading strategies. I recently started journaling my trades again, as it had been over 5 years since I have done this. Once again, it is proving the time is worth its weight in gold. It is showing me my strengths and weaknesses in an objective way.
ADJUSTMENTS NEEDED: I am finding that I am day trading option flow in a great way. No changes there. I am also day trading/swing trading daily charts very well. Also no change. What I am not doing well is day trading the 5 min momo setups very well. I am 50-50 at best. I am going to trade these much smaller and see if that helps. If it doesn’t help, I may eliminate them all together. WIll keep you posted in that regard.
I also am going to add a couple new swing trade strategies to my system. First I am going to look for short term reversal patterns on extended charts that are beaten down. I will talk more about this in future emails as I find these setups. I am also going to utilize options much more vs stock in terms of bullish options flow coupled with bullish chart patterns for short term swings. I feel like these added strategies will give me a proper r/r entry and maximize bigger gains in my swing trading.
Lastly, I noticed in the journal that my losses tend to be much bigger than my winners. I hope to cut losses quicker and let winners run a bit more in terms of a trailer piece and scaling out to improve these numbers.
Small tweaks for this year that I think will help the bottom line!
I decided a few years ago that I wanted to put my work down at the market close and spend more time with my family and kids with my head free and clear of charts and stocks. I feel like I have done a pretty good job of this overall.
ADJUSTMENT: I want to take even more time in the coming years in terms of days off when the kids have important activities/events. I have done a good job of stopping work at market close for the most part, but not so much in terms of full days off when they need me. This is something I want to do more of including more meaningful family outings, extended weekends, trips to appointments, etc.
LASTLY: One other item I hope to improve upon away from the market is basically spending time with loved ones/special people in my life and telling folks more often how much they mean to me. I think I need to say the words I LOVE YOU more to those that are deserving of this. I also need to take the time to physically visit those loved ones more often. We are all busy in our daily lives and all too often days/weeks/months may go by without spending time with folks I need to spend more time with.
I think that these small adjustments in all aspects of life will help me live a healthier, more fulfilling life and also make more money! More importantly, I think these items are doable!
Overall, looking to rock n roll this year and am excited to get it going!
Here is to a great 2020!
Thanks for spending it with me!
**** Reminder this is your last opportunity to lock in the lifetime offer (70% off!) I will not be offering lifetime deals in 2020, much less 70% off!
Just use promo code: 2020
On to the email…..
Detailed thoughts on the index charts below.
SWING ALERT UPDATES (alerted via SLACK notification and EMAIL)
(KEEP IN MIND THESE ARE NOT NECESSARILY ACTUAL TRADES, RATHER EDUCATIONAL ALERTS!)
All cashed up and ready to roll in 2020!
Top Setups/Ideas heading into the open