Hey guys,
Since the webinar I've received a lot of great feedback from various members of Futures.io. I never thought I'd be able to have such a positive impact on the
FIO community, so thank you.
Also, I've gotten a decent amount of people asking me for updates around when I plan to get back to trading, so I thought I'd share with the rest of you as well.
Trading is on pause for the foreseeable future as I'm not available during key
market hours (and my most profitable hours historically speaking). I may not be working the 60+ hours I was doing before but the mornings always seem to be busy for me. This means I either have meetings, get calls / have to write back to emails, or I'm getting ready to leave and I'm not focused enough.
For me to trade successfully I need to be in a calm and focused state of mind. It's almost impossible for me to do that right now. And if I'm not in the right state of mind to trade, how can I expect to trade well? I thought about only trading on the very few days that I'd be able to dedicate all the time to it, but that would just be to satisfy my want to trade.
Trading is something that requires one to be in sync with the market. If I'm away for days at a time and only trade a couple of hours every few weeks or so, how can I be in sync with the market?
I'd like to think I'm a trading veteran who can come in after days/ weeks of absence and be one with the market.
But I'm not , and I need to recognize it. I'm a trader who has seen some success in his first year of trading and still has a lot of improvement to go before getting to the 'unconscious competence' stage in trading. It's already difficult enough to become a successful trader as is, so why stack the deck against myself?
I also tossed around the idea of trading other instruments or after hours but I don't typically get home until ~9est and there are not many good opportunities until at least the EU open. Which is too late for me to stay up for.
I want to swing trade, but how can I swing trade when I'm not available during the the prime time for entering a trade? Maybe this is something I can figure out in the future.
Whichever way I sliced the information it seemed that the right answer was the same. If my goal was to trade as much as possible then the right decision would be to just find a way and time to trade, even if circumstances to do so aren't good.
But that's not my goal, my goal is to be a successful trader and in this case it appears that the right decision is to put trading on hold until I can dedicate he right resources toward it.
Some people would see the 2 as being one in the same, but not me. There's doing things and doing them often, and then there's doing things
well. I'm going for the latter with trading.
I love trading, and it's tough to keep it in the back burner for longer, but I guess I'm going to have to.
On a positive note, my management consulting business has started to gain some traction and I'm hoping to subcontract a few very people soon. Nothing is set in stone yet but things are looking good right now. I didn't expect this to happen at all this year so I'm very thankful for the opportunities. Hopefully things pick up even faster so I can get back to trading
.
Talk soon