Right, so no posts for a couple (6?) weeks! Which begs the question – what have I been doing? I guess the main thing is attempting to get my head working in a correct way and deal with a couple of underlying issues.
1) I firmly believe that if you don’t have enough money then you don’t have enough money to trade with! How can you be expected to make a rational decision which involves managing risk if your outlook is that you actually can’t really afford to take the risk int he first place! Putting it like that of course it makes no sense 😉
2) There has to be a process for trading and the key thing to concentrate on is loving the process and making it into a habit. You might get the opportunity to analyse the market for 3 hours on a Sunday BUT you probably need to spend this time looking at what’s going on EVERY day to not get caught out by something.
3) Measuring, recording and tracking what you’re doing… VERY important. I’ve just finished building a Filemaker Pro database to help me do this. It’s extremely useful and helps me put what I’m doing into some logical and questionable framework. Now, I’m of course not in control of the markets BUT at least I can use this as a framework for recording trades, ideas and analysis. The key point here is to be able to measure your own performance/learning against your results.
I hope to put up more details and information up here in the next few days