Aug 232015

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.