1/1/20 TTB Update and some REFLECTIONS!

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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On to the email…..