Monday, March 19, 2012

Brick by brick

Total gross profits:  $87.50  +1.75 ES points
Total trades:  2 [0 scratch]
Accuracy:  50.0%
Execution score: 100%
Opportunity cost: $0

One of the examples Renato makes in his Diamond Setups trading room is that he's like a bricklayer -- focusing on building a wall, brick by brick.  And before you know it, you look up and realize you've built a big wall.  

From the trading perspective, he's just following his trading plan, patiently waiting for one good setup, and pulling the trigger.  His goal is to take small little bites every day, and over time, those little bites really do add up to some sizable profits. 

So starting this week, I decided to start making small little changes, not necessarily directly trading related, but activities outside of trading that have a direct impact my trading.  As I was spending time on the mental game this past weekend, I coincidentally received a link from "H" to a FT71 webinar regarding meditation.  In that webinar, FT71 identified 3 key activities of life that impact your ability as a trader:

1) Meditation
Meditation is something I haven't worked on, although I have purchased a biofeedback device called the Stress Eraser with limited usage to date.  I'll need to dust it off and put it to use.  Trader-X also had a great post regarding meditation about a year ago.

2) Diet
My diet is pretty good, although I can always work on cutting back on sugar, which generally wipes me out. 

3) Exercise
I used to work out at least 3 times a week (minimum 1 hour), but that has fallen to about once a week.  This is an area I can work on immediately.  So for at least 2 days a during the workweek, I will dedicate an hour of exercise prior to trading.

Today, I went to go exercise in the morning before trading, thinking that I could work out any impulsive energy that has been building up over the weekend.  I felt the positive impact of the exercise.  My mind was clearer, and there wasn't as much need to trade, for the sake of trading.  I only had 2 trades the entire day, so perhaps this will help minimize revenge/rogue/boredom trading.

I am serious about improving my performance as a trader, and will continue to evaluate and implement changes to my life that will positively impact my ability to trade.  It won't be a drastic change, but something that I will work on brick by brick, bite by bite, with clear goal and objectives in mind. 

Someday in the near future, I expect to look back and see great progress in many areas of my life -- not just trading.

No comments: