Recalling the college years, staying up late into the night cramming for tests just does not work well for most -- there's definitely a point of diminishing return -- and I believe I'm experiencing the same with trading except on a longer time horizon. This might be a sign that I need to stop trying to drink from the fire hose and pace myself better to prevent burnout. Trying to balance my family duties which accounts for a solid 7 hours a day, along with trading which I try and dedicate at least the 8-9 hours a day, and finally sleep which I try and hopefully get 6-7 hours, leaves very little time physically and especially mentally for much else.
But for the past couple decades, my fascination and passion for the markets has always remained, so there's no use in trying to repress it. Time to continue marching forward, working on getting a little better and better, day by day. Steady progression.
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Some interesting charts from today (9/20):
CVH - 5min had what I call a "3 bar reversal" [3br] triggered on bar 9. This type of reversal pattern is usually good for a scalp and possibly a decent move, as was the case with CVH.
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| CVH 5m 9/20/2011 |
1) Short triggered below 12:25 red shooting star after a "VWAP line cross over 5ema" [vlco] took place.
2) Short triggered on break below narrow 14:15 bar, which was a pullback up to the opening range low.
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| POT 5m 9/20/2011 |
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| REXX 5m 9/20/2011 |
I've missed out on some good setups. But overall, the markets also look a bit neurotic, so maybe I'm not missing too much. OK, it's time to go back to my timeout.
2 comments:
Hey Grove,,
I too have taken a time out or two in my learning journey and found myself thinking about charts and going over my strategies in my head when I was away but a break can be needed even if you dont realize it. I know I am determined to master myself in the stock market and reading your thoughts again remind me of me. Keep it up
Tom
Tom:
Thanks for the comment. You make a great point, I think the brain needs some time to "digest" all the info during a steep learning curve.
I'm starting to think that I should schedule some mandatory time off from trading, just to rest the mind. It seems counter intuitive, but I'm starting to believe more and more that it's necessary for long term success.
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