Notes

Key Points in My Journey

There are several things I've learned over the course of my trading journey that I found really helped bring me to the next level

• Scaling. I did not scale properly. I would buy 50% once, then 50% again. Or buy 100% full. I was afraid of the commissions, but it ended up messing with my psyche, and I rarely had the best averages. Once I learned to scale properly, I began to see more consistent gains

• Sizing. I did not size properly. This is something I am still working on, but the way Brady has forced me to think, has helped tremendously. If I am buying something, am I prepared to suffer a potential x% drawdown (next support level)? If not, size down. It could be a lotto on a highly volatile ticker, but if I am only 0.5% of my account in it, I don't really care if it's down 10%+, as the plan was always for 50%+. If I had to cut it at even 20%, that loss is minimal given the size.

• Visible P/L. I learned very early in my trading career, that looking at my P/L while trading does nothing but cause distraction. The only thing I have visible on my screen is portfolio %, % gain/loss, average price, and position size. Trading the chart, respecting that % gain/loss, is more important if you want to size up/down. The process is more important than the dollar value

• Focusing on the process above all. I know I'm a decent trader. But removing the emotion is the biggest challenge. I've adjusted my mindset to focus on the process, no matter how little the gains. They will come when discipline stays.

• Never be afraid of switching strategies that don't speak to your personality. I mentioned above, but I changed strategies multiple times throughout my journey so far. And I'm willing to bet they might change again. But the key takeaway, is finding something that speaks to you. I realized through trial and error, that I'm a dip buy trader, who doesn't mind seeing some red, and heavily relate to and depend on technical setups. I am not a good breakout trader and I am also not a good fundamental trader either. And that's okay. The market is big enough that my style works for me.

• On a personal note, balance of family, fulltime job, and trading, was difficult to start, and sometimes still is. When I was day trading, I found myself with little to no sleep, stressed, ornery, and irritable. It was affecting my family life, my health, and my job. I couldn't wake up early consistently, and trade throughout the day, without losing money, being tired, and just a sour ass in general. So when I committed to swing trading, I discovered that balance that I so desperately needed. I found I could still trade, not suffer FOMO, and have that key balance to take care of my family and FT.

Removing FOMO

FOMO is a real thing, no matter where you are in your journey. It is probably the single most important thing to never enter a trade when you FOMO. Some key things that help me get past this feeling

• Draw those support/resistance lines. Now VPA the move. Is there an opportunity for you to get in at support, with good risk/reward? if you can't answer that, then don't take the trade

• If you feel compelled to enter and the run is past, walk away from your desk. Go for a walk, get something to eat or even just a stretch. Anything but sitting in front of the computer and casing

• If you can't do that and are still compelled, take small lotto size, something that you are okay being down a large percentage. I pay commissions, but if I took $100 position just to see what it would do, I'd be okay being down 20-30% on it. But if I $5000 position, I sure wouldn't want to be down 20-30% on it.