Week 20 Goal Planning Session

     This week I'm looking to completely get away from any P&L goals. My main focus right now is to become more consistent. A matter of fact, it's more important that I make $100 a day for 20 days in a row than make $3-4000 in a month. Once I've built some consistently, I'll narrow in on opportunities where I could've made more. Until then, risk management is the key and I cannot lose more money. Everyday the market is a new opportunity to learn more and get better. What if you blow your account? Then you lose that opportunity. The market's a teacher but if you don't stick around long around, you may miss the biggest lessons it has to teach. I'm been very humbled the past few weeks with my talk with several people. I love trading. And as Jeff Davis told me, "You have a great opportunity, and if you blow this you'll regret this for the rest of your life.... and  you know it!" Right now, Kershner has handed over a $500k book for me to trade. To be honest, I don't deserve it. I know how Andy thinks and how much faith he can show in a person (for me, a little too much) but I always want to show the same respect back to my firm.... and that's the message of, "Hey! I'm going a too big too fast. I'm okay with not making money right now. I just want to do what's right and learn." I'm doing the right thing.
     So to wrap things up, here are my process goals this week:

    • Arrive everyday at 7:15am CST to prepare thoroughly.
    • Figure out 2-3 stocks to trade directly at the Open.
    • Find the most In-Play stocks at 8:45am and observe levels.
    • At 10:30am, evaluate trading and see whether the market conditions is right for trading.
    • When time allows, read a chapter of Dr. Steenbarger's book.
    • Remember to journal actively and document all trades. This is the only way I'll get better.
    • Review trading after the Close and find areas I can improve in.
    • Shut down station 45 mins after the Close. Go home and get some rest.
    • Spent an hour or so on ripping through charts at night and find opportunities for tomorrow.
     What are some of the process goals you have that help with your everyday trading?


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