Wednesday Wrap Up - Asking the right questions..


     Here's a sticky note that I posted on one of my monitors. This is about me asking the right questions. There were opportunities that I didn't prepare myself for today. And while I made $230, my day should've been at least $800. I watched an inspiring video of Ray Lewis that SMB posted on their blog. "How much time am I wasting?" I've never been one to wine or complain. I keep my chin up and always try to make the best out of the situation but often "the best" that I could do is drink or sleep my misery away. I work very hard at this craft. I wake up at 6:45am CST every morning for work. A few hours after the Close I head over to Apple where I am currently holding a full-time position in their Sales department (yes, that means I have two jobs). I'm always tired and hopeful that my 2-3 hour sleep every night would feel like a 7-8 hour one. That's never the case. In between my two jobs, I try to get my reviews in but often I'll find my emotions (whether good or bad) to be the culprit that drives me away. I'm wasting time. SMB blog once wrote that time is the number one factor when it comes to a trader's odds of success. Those that give themselves a longer time to learn the craft holds better odds to make it. It's been 16 months already and I realize that 'time' may mean something else to me. There's 24 hours in a day. Am I using it all?
     What can I do to get better today? Run through the movers and see if there any levels I can pencil in to watch tomorrow. Add them to my watchlist so that if they do trade back to my levels, I have an opportunity. Review all of the trades I took for the day. Critique them. Were there areas I could've added with minimal risk? How could I have traded each setup better. By looking at each of my trades a second time, I am able to 'double' my screen time as if I traded the day twice. Get your reps in.
     How good do I want to be? I'm afraid I'll have to leave this question unanswered for now. But tomorrow, I will be here by 7:20am. I will write out my full trading plan. I will have the discipline and the respect to only trade important levels based on the tape and charts' confirmation. Tomorrow I will work more harder than I did today, and each time I become exhausted I'll look over to my sticky note. How good do I want to be? Start now.


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