Saturday, December 31, 2005
12/31/05 Ryan Jones Lesson 2 continued...
Do you really want to know just what it takes to become a trader? Well, let me tell you. It is New Years EVE for darn sake's and what am I doing...... thinking about trading! It is truly sad I know. My wife was telling me that one of my New Years Resolutions was going to be to not work in my office until 9:00 any more than 3 days a week. It's not like I had much choice here because when she tells me to do something I generally will obey.... Yes, I love her that much... plus, I really need to take a break and get out my office once in a while. The really funny thing is... did you catch it?, She had to tell me what my New Years Resolutions are going to to be. I think she made a good choice. I will obey! Ruff!
My wife is amazing to me. I sit here and kill myself because I refuse to fail at anything (those of you that know me personally will attest to that (Brian).) and trading is just another hill on my map of achievements that I refuse to fail at (ended a sentence with a preposition. Shame on me! I should have said "... trading is another hill on my map of which I refuse to fail? OK enough with this!). You see, I have these beautiful cars. I have several. One of them is finished and drivable, another is an original car that was my fathers first old car and it is drivable as well. Then I have several that are in the process of being put together. I love to do restoration work as a hobby. It can keep me sane which at times is very difficult. Now, with that being said, I still would sit in my office marking up charts or looking at the market, or reading analysis, or reviewing seminars for more continuing education, every night of the week (remember it is New Years Eve and where am I now????? Get my point?) So my bride (married Sept 14th in Scotland!) will tell me that I need to spend more time in the shop working on my cars! For Gosh Sakes...does it GET ANY BETTER THAN THIS????? I really don't think so. She isn't telling me that I need to spend more time with her, or more time working on the house, or more time doing yard work. No, I have to spend more time doing something that can really calm me down and put my whole life into perspective. Working my cars! What a women. Maybe I should be worried about this?
The continuing Homework is that I should take the areas that are listed in step 4 and compare them to how I want to be remembered and for those that aren't on the list I can cross them off. For those that are in step 4 and aren't listed in step 5, I need to work on.
When I looked at the list there was nothing in step 4 that I can cross off from step 5. I need work on the whole friggin thing! I think I will hit the top of the list first and foremost. Trend trading. That is the key. This is where Enrico will come in. I will have to answer to him regarding whether I am trying to trade the trend or I'm trying to fade the thing. Fading is not healthy for me to do. I have to force myself to trade the trend even if it is going against every fiber of my being! Which it does most of the time, which is why trading is so dam hard! Remember how much I hate to be wrong? So what do I do? I try to guess the tops and bottoms to see if I am right. Well, I can guess several times a day but I will only be right twice. Doesn't make much sense does it? I think that since I post my trades to Enrico in IM chat, he is the best person to decide if I am making trades with the trend or against it. I really wish that Salty Rock would join us in Foosers room but I don't think he is ready yet. I have to be careful not to push my favorite pirate friend. His time will come! It will come soon!
OK, Enrico, your job, should you chose to accept it, is to question every trade I do and ask me if it is really with the trend. Or better yet, why am I trading against Fooser if I am trading against Fooser. If the trend and Foos are trading in one direction and I am trading against both of them then just take me out to the pasture and just shoot me. I am worthless as a trader on those days, and shouldn't be trading. I know this is a lot of responsibility for you Enrico but I am counting on you to keep us both straight! I have your best interest at heart as well. Of course, I will return the favor as well. You didn't know that when you joined this little band wagon did you? Oh yes, you will become a great trader whether you like it or not... just like me! HA!
Now, we both will have to justify that every trade we do is with the trend of the day, week, month, before we can put it on. For example, if there is a gap trade that is with the trend of the last few days and weeks wouldn't we be crazy not to take it???? Especially on a Thursday for less then 7 points! This is what I'm looking for! Odds are greater than 70%! That is a trade I should be taking. On range days the same thing applies except we will only trade the extremes until there is a trend clearly evident. Simple right?
OK, it is getting late and I think I am going to re-listen to lesson 2 to make sure I didn't miss anything. Chances are I will be revising this as I go along.
TraderXXXXXXX!!!!!!!!
My wife is amazing to me. I sit here and kill myself because I refuse to fail at anything (those of you that know me personally will attest to that (Brian).) and trading is just another hill on my map of achievements that I refuse to fail at (ended a sentence with a preposition. Shame on me! I should have said "... trading is another hill on my map of which I refuse to fail? OK enough with this!). You see, I have these beautiful cars. I have several. One of them is finished and drivable, another is an original car that was my fathers first old car and it is drivable as well. Then I have several that are in the process of being put together. I love to do restoration work as a hobby. It can keep me sane which at times is very difficult. Now, with that being said, I still would sit in my office marking up charts or looking at the market, or reading analysis, or reviewing seminars for more continuing education, every night of the week (remember it is New Years Eve and where am I now????? Get my point?) So my bride (married Sept 14th in Scotland!) will tell me that I need to spend more time in the shop working on my cars! For Gosh Sakes...does it GET ANY BETTER THAN THIS????? I really don't think so. She isn't telling me that I need to spend more time with her, or more time working on the house, or more time doing yard work. No, I have to spend more time doing something that can really calm me down and put my whole life into perspective. Working my cars! What a women. Maybe I should be worried about this?
The continuing Homework is that I should take the areas that are listed in step 4 and compare them to how I want to be remembered and for those that aren't on the list I can cross them off. For those that are in step 4 and aren't listed in step 5, I need to work on.
When I looked at the list there was nothing in step 4 that I can cross off from step 5. I need work on the whole friggin thing! I think I will hit the top of the list first and foremost. Trend trading. That is the key. This is where Enrico will come in. I will have to answer to him regarding whether I am trying to trade the trend or I'm trying to fade the thing. Fading is not healthy for me to do. I have to force myself to trade the trend even if it is going against every fiber of my being! Which it does most of the time, which is why trading is so dam hard! Remember how much I hate to be wrong? So what do I do? I try to guess the tops and bottoms to see if I am right. Well, I can guess several times a day but I will only be right twice. Doesn't make much sense does it? I think that since I post my trades to Enrico in IM chat, he is the best person to decide if I am making trades with the trend or against it. I really wish that Salty Rock would join us in Foosers room but I don't think he is ready yet. I have to be careful not to push my favorite pirate friend. His time will come! It will come soon!
OK, Enrico, your job, should you chose to accept it, is to question every trade I do and ask me if it is really with the trend. Or better yet, why am I trading against Fooser if I am trading against Fooser. If the trend and Foos are trading in one direction and I am trading against both of them then just take me out to the pasture and just shoot me. I am worthless as a trader on those days, and shouldn't be trading. I know this is a lot of responsibility for you Enrico but I am counting on you to keep us both straight! I have your best interest at heart as well. Of course, I will return the favor as well. You didn't know that when you joined this little band wagon did you? Oh yes, you will become a great trader whether you like it or not... just like me! HA!
Now, we both will have to justify that every trade we do is with the trend of the day, week, month, before we can put it on. For example, if there is a gap trade that is with the trend of the last few days and weeks wouldn't we be crazy not to take it???? Especially on a Thursday for less then 7 points! This is what I'm looking for! Odds are greater than 70%! That is a trade I should be taking. On range days the same thing applies except we will only trade the extremes until there is a trend clearly evident. Simple right?
OK, it is getting late and I think I am going to re-listen to lesson 2 to make sure I didn't miss anything. Chances are I will be revising this as I go along.
TraderXXXXXXX!!!!!!!!
