SMCJB 

Learning to trade (entries, exits, etc) is only one part of being a successful trader. You also need to learn discipline and have the right psychological make up. I think as many people fail at trading because of the latter as the former.

SMCJB, I appreciate the fact that you, Big Mike, and others are telling me what I need to hear.

And I hope you all will keep following my story as I struggle to get my head together.

One of those great Steve Jobs quotes, "You have to be willing to start again."

I continue to study and get my ducks in a row toward re-starting my trading. If I have learned anything, it's that I am not ready. And that I have to go all-out and prepare -- like I was going to law school or med school or something.

The other day I started watching the remarkable series of videos in which Tom Sosnof teaches his 24-year old daughter Case how to trade options, from a totally cold start.

Quite some time ago I happened onto one of those videos, about six months into the series, and there is Case talking iron condors and it was like she was talking Chinese algebra to me. I thought she was too darned smart and advanced for me, I could never do that.

Anyway, so the other day I drilled down into their archive and found the very first video, from January 2013. She's got a bright and shining face and an insistence on asking questions, getting definitions, going back over and over until she gets it cold, meanwhile putting Tom in his place. She says she watches an episode 10 times if she has to.

It's really hard stuff, and I have to admire and emulate the attitude of this 24 year old.

Gee, if she can admit that she has to watch something 10 times, I guess I can too. With sharp pencil in hand, taking notes.

https://tastytrade.com/tt/shows/wdis-season-1-tom-case/episodes

QOTD: "The brain is designed with blind spots, and one of its cleverest tricks is to confer on us the comforting delusion that we, personally, do not have any ... Social psychologist Lee Ross calls this phenomenon "naïve realism," the inescapable conviction that we perceive objects and events clearly, "as they really are."

My corporate brokerage account was finally uapproved by IB. It's taken nine months to get to this point, so many obstacles and blind alleys.

I now have corporate bank account, business plan, accounting system, accountants, log software, investment strategy, risk management and game plan.

My ETF rotation strategy for my investment account, which I started back in November, is up 25% since inception, 14% YTD.

Slow and steady.


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USLV?

I have decided to start getting rid of it, finally.


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suko 

I have decided to start getting rid of it, finally. Sent from my iPhone using Tapatalk

Why now? It seems to be in an uptrend since the beginning of June.
A trailing stop would make sense but why exit a position that is moving in your favor?

Not going to sell all of it right away, but I need to free up some of that capital to fund a TOS account. Learn to trade options.


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One thing I've learned from holding that USLV position is that geopolitical shit can happen, like this ISIS thing, and suddenly PM reacts violently.

I think that if ISIS should take Bagdad I am going to be glad to have some USLV.


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suko 

Not going to sell all of it right away, but I need to free up some of that capital to fund a TOS account. Learn to trade options. Sent from my iPhone using Tapatalk

TOS? Why not IB?
If you are learning you should practice on demo.