Dec 312010

Happy New Year 2011  Happy New Year & My Trading Resolutions

Happy New Year!

January 1st marks a special anniversary for me as it has been 1 full year that I’ve been trading full time.  I can’t believe just how much I’ve learned this year.  A year ago I didn’t know anything about market profile, volume profile, order flow, the footprint, etc.  It has been a year full of discovery.  And now is the time to put all this newly acquired knowledge to use to make some money!

Here are my resultions for the new year:

  1. Eat healthier – I love desserts but I need to cut them out.  I’ve gained around 4kg (9 pounds) this year.
  2. Exercise more – I was running 3 times/week but quit due to the freezing weather with snow & ice.  I must not make excuses.  A healthy body makes a healthy mind and this is necessary for trading.  I can walk, swim, & ride the exercise bike.
  3. Spend more time on hobbies.  I’ve neglected my hobbies in order to work harder at trading.  It’s now time to enjoy the fruits of my labor with more time for Piano, Photography, and Painting.
  4. Spend more time with the family.  My daughters are growing up so fast.  Working at home as advantages in that I’m “around more”  but I need to be away from the PC.
  5. Accept that my win rate has absolutely no bearing on my income, and a high win rate can even make less money.  I accept that I may make money with a win rate of 50%.
  6. Never move a stop loss.  Take it like a man.
  7. Avoid taking profits early.  Target or stop is my new motto.  I need to quit sabotaging myself.

I want to congratulate everyone for their work & accomplishments in 2010 and I wish you best of luck for success in 2011!

  One Response to “Happy New Year & My Trading Resolutions”

  1. Happy New Year Michael! Thanks so much for the forum and all you do to contribute to the growth and progress of us little guys/gals in the retail trading world. We have many of the same resolutions. Let’s make it happen. Cheers!

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