I was replying to a post at BMT and I looked for an example chart to use in my reply, so I googled about volume composite and clicked “images” and took the first chart. When I pasted the link, I was surprised that it was one of my charts from my blog! That reminded me that I have a blog! I had kind of forgotten.
I can’t believe it’s been over 1 year since I last posted to my blog. So I thought I’d take a few minutes to write an update. A couple years ago I accepted an exciting consulting offer to redesign the architecture for a bank. It’s been a great experience for me. It’s also about the time we had our son. Between the two I haven’t had much free time. I stopped participating in forums (except once in a while someone wakes up an old thread and I get an email notification), etc.
But I still kept on trading. I did get very selective with my trading and only trade when I’m home and the markets are moving. This results in less trades, but it has been profitable. I have a profit for last year and this year as well. So I’m happy about that.
A week ago I had some time to think about all this while laying on the beach in the Cote d’Azur. I wrote out a list of goals for myself. I want to win $1 SNG (poker) (I’m currently slightly better than breakeven for $0.25). I want to redo my CV for my consulting in order to offer more services to my clients such as Agile Coach. And then I thought about trading. What do I do about trading?
My trading partner is taking some time off and when that happened I scaled back a bit too. I miss many trades which is a shame because I see many that would have qualified as a setup and paid off nicely. I felt like I was letting good opportunities pass me by, and with a little more attention I could turn it into a serious income. So I added trading to my list and decided I wanted to make $500/month consistently. Once I achieve that I can scale up to 2 lots.
In the past when I was trading full time I was trading 2 lots and was making money but unfortunately it wasn’t consistent. So a few years ago I decided to accept less and go for consistency. And a few years later I think that is the right approach for me at this time. Kids have activities, I have a weekly class, and I help out a lot around the house. So I had to refine my method to make it more hands off. Typically I set up audio alerts in my areas of interest and wait for the market to come to me. Then based on what I see, I choose to enter a limit order and go about my activities. It’s a compromise, but it allows me to trade evenings in addition to my full time consulting business and my family.
So now I think it’s time to step it up a bit. I want to be less passive, take a bit more risk, but most importantly, not let perfect setups pass me by.
If there is interest, I will update my blog with my results. I’m not really interested in promoting myself, advertising my blog, posting on forums, etc. I realized that was a hobby but not really a business. Well some shady characters have succeeded in turning that sort of thing into a business, but I prefer not to go there. Time is limited. Since I’m profitable, any extra time I have is either spent trading or doing hobbies. I’m still not sure playing poker for 30-40 minutes to make $1 is worth it, but it’s fun at least.
So if you’re still here after all these years, let me know.