If you missed part 3, read it here!
By the end of 2013, with yet another trading account freshly depleted, I had stumbled onto a new way of looking at the markets that was better than what I had seen before. It seemed that traders were making progress, and when they had their winning trades, they had some crazy risk/reward numbers. I spent my money and quite a bit of time with this approach. I believe that I took it pretty far and understood it well. I could see setups now on the charts, but I was still losing in real-time. Everyone is a genius on an historical chart. It is not possible to explain the frustration I had at this point. It had been a long journey. A four-year campaign, and the only thing it seemed to produce was ignorance to a simple fact; yes, I could see a specific setup on a chart from the past, but I couldn’t do it live. I had nothing. Not only that, but I had neglected my career, my children and my wife while following this pursuit. Yet I had nothing. The best I could do in all fairness, was to put a trade on around a support level (stock or option trade) and just leave it. Stop looking at it, and just leave it like an investment. If I hit my profit target, then great. Otherwise, I had a stop in, and I would just keep firing darts at the board like this.
As 2014 began, I went snowboarding in Whistler, and had a moment of deep reflection while looking out across the vista, high up on the mountain. It turned into an almost spiritual occurrence. Where did I want my life to go? A new year had begun. I had received multiple offers for amazing job opportunities, but to go that route would mean consuming myself in my non-trading career. It was exciting, but scary to consider that I had just wasted the past several years away struggling to learn how to trade. In all fairness, I think what had dragged out my own journey was the fact that I had a career that had often required me to work 100-hour weeks. That had left little quality time to study. I remember getting up for months at 3AM, studying till 6AM, catching the train on my daily commute, working till 7PM, coming home, having dinner, saying a quick hi-bye to my kids and wife, and jumping straight onto the computer till 10 or 11 at night. I would often fall asleep at my computer. I couldn’t let it go. I would not give up…
Stay tuned for part 5 tomorrow.[adrotate banner=”3″]
(Image Crefit: Steve Garvie)
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