Introspection Part 2 ~ Me

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In yesterday's post I spoke about trading, the methods I use, the changes I need to make and what my plan is for the near future. In today's post, as a follow up to yesterday I'd like to talk more about me. I'll cover a few different topics which are all geared towards the emotional, psychological and mental side of trading. An often overlooked and understated part of the trading machine.

One thing the backtesting is definitely going to prove is whether or not it's all in my head. Whether i'm psyching myself out of trades, psyching myself in to bad trades or psyching myself when I am in the trade itself. I'm looking forward to getting started on the back testing. I've downloaded all the data back to 4th December 2007 and i've set up my charts in the best way that I can without cheating! I've three screens so i've put the 5min on one, 15min on the second and 1hr on the third. If i scroll the 5min chart, the 15min and 1hr chart scroll automatically, so i'm not cheating and seeing data to influence my decision making. I can stick to the right edge and move one bar at a time. I wanted to get this written before starting but i've already spotted one good set up on the 4th December 2007, so i'm off to a good start!

Back Test Screens

I've written similar posts to this in the past, namely at the 6 month mark and at the end of 2011, the 12 month mark, part 1 and part 2. I'll probably be going over the same sort of stuff but I need to get it out there again.

First things first, I need to get back in the gym again. Gym featured heavily in my posts in the second half of 2011 and it was great to go and come back feeling great. I've had a bad back for years which was the reason I stopped going to the gym in the first place. Without sounding dramatic I was "diagnosed" with spondylolisthesis (that's a bit of a mouthful!) a couple of months ago, so now I know what it is, it can be managed and I can get back in the gym no problems. This will be hugely beneficial to me. Healthy body healthy mind as the saying goes. Coupled with this, I need to start eating better. To be fair, I eat very well, but a cut back on the chocolate addiction after the healthy meals wouldn't go amiss!

I've talked about it before and I'm going to talk about it again. Emotional Freedom Techniques (EFT) and Neuro Linguistic Programming (NLP). I've had multiple sessions with my Dad in the past and whilst it is good to do these things 1 on 1 it's about time I start using these techniques in my own time. I know the power of these tools yet I still don't use them on a regular basis. The only reason I can think of is laziness. I've spoken to my Dad about getting a script together that I can go through at the start of every trading day to get myself into the right mindset to approach every new day. It would also be beneficial to write something to go through at the end of every trading day. So I don't bring the charts and trading into other parts of my life.

As far as starting the day is concerned, my bed times are ridiculous. I can't remember the last time I got up when my alarm went off in the morning. Let alone felt alert. There have been a couple of early moves that I've not had the chance to be a part of as I'm still in bed. I need to be in bed for a reasonable time, preferably around 11 or so. When I get up is when I need to go through the EFT and NLP exercises. Even some cardio and exercises to help wake me up.

It's all change at home at the moment. My Dad works away in Europe and my Mum has decided to go and live with him in October once the lease runs out on our house. So that means me getting my own apartment. I personally can't wait, I'll have my own space and complete peace with which to approach trading every day. On the other hand, money becomes a factor. I've recently applied for a part time Amazon job which I can do from home. I'd still have plenty of time for trading as well as earning the extra money I need to support myself once I've moved out. If this doesn't happen, there are extra hours coming up in my other job that I work in at the moment. So that is always an option.

I briefly mentioned going travelling in a post a few weeks ago. I've now decided this is definitely going to happen. So i'll be heading off to Asia sometime next summer, in around June or July. I don't know if this will be detrimental to my trading or not. But it's something I need to do. It's something I've always thought about doing it and seeing as trading isn't yet at the stage of funding 5 star hotels in each country, i've decided that now is the time to do it! So it's save, save, save for the next few months. I like to have this travelling target to aim for. In the mean time I can work with trading, backtesting, developing and hopefully getting back into live trading all within this window. Besides, with smart phones these days, i'm never more than a touch away from some sort of chart.

Which brings me to my next point. I'm only 24! I often forget this and in the grand scheme of things i've many years ahead of me for which to crack this. I've chatted with plenty of bloggers and forum users and i've only ever met one person that's younger than me. Of course this doesn't represent all the traders out there but I certainly think i'm at an advantage here. Now to use all that extra time wisely!

I posted recently about playing guitar more. This did happen for a while but neglected that again. One thing I can do to free up a lot of time is to cut back on the PS3 or "idiot box" as my Grandad used to call it! Lets face it, i'm not going to stop playing completely, I enjoy it, so why would I want to do that? But I understand and recognise the fact that I could do with playing a lot less. So that's what i'll do. Now's a good time to do that, i've finished all the games I own so don't have much of a desire to play. Maybe a bit of Battlefield multiplayer now and then to keep me going! With all the studying of Wyckoff and PNF I mentioned yesterday I'm going to need that free time.

I've mentioned my girlfriend on here a few times as well. I get a lot of support and encouragement from her which I really appreciate. We're going away for a week at the end of August and I can't wait to spend some time together, not to mention some hot weather. It's been an appalling summer here in Ireland. Really looking forward to getting away. We had to cancel the last set of flights so this holiday has been a long time coming. I'm not sure if she'll let me bring a laptop and do any back testing though. Maybe i'll run that by her......

I think that's everything. If you're still reading, I commend you and thank you. I'd appreciate any comments that people have. Am I taking the right approach? Am I being pro active? I realise It's one thing writing about it all, the next step is actually doing all of it. I refuse to wallow in any sort of self pity and am hopefully taking steps to ensure changes are made.

The next post will hopefully include the first week of back testing, from Tuesday 4th December 2007 to Friday 7th December 2007.

As well as back testing, i've decided that i'll also make posts about the current days action as well. So that i'm keeping in touch with the market at present.

Thanks for reading, 




28. Forex. Trading. Music. Beer. Food. Travel.


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