Updated: Jan 2, 2020
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!
PRE MARKET 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!
MARKET HOURS/TRADING 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!
AFTER HOURS 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!
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All cashed up and ready to roll in 2020!