Sunday, 8 August 2010

The Next Step

I have enjoyed my 2 weeks away from the stresses and anguish of trading. Yes, I know it shouldnt be that way, people say its really boring when you crack it, but thats been my experience, and probably highlights exactly where I'm going wrong.
So I'm not sure how to proceed from here, or even if I am going to continue in my quest. I seemed to have some sort of an edge, I was generally in (small) profit, and I think that it is my mindset, confidence and attitude that have kept my profits small and made me struggle. While I probably couldnt definitively define my edge so that, say, you could program a bot to use it, I wonder how many other traders could do so for their edge? But, as people have said, there is no point me carrying on and trading as I was before, whether it was that I didnt have an edge, or that my emotions and mindset eroded a lot of my profits. That leaves me with 2 areas to work on. Im not sure how much I am up for the grind of watching loads of markets, defining some edges, and testing them with small stakes for a good period of time. For the mental game, the blog was supposed to help with this, and it has to a certain extent, but you can see as time goes on that the posts come less and less, and are saying the same things over and over, so I am wondering if the time has come to suspend the blog for a while. I am also considering cutting all ties with other traders, since it does my mindset no good to be struggling all day, while other people are saying "oh, its easy", " Ive made £x so far", or giving out advice which is well meaning but useless to me as I am at the moment.
So over the next few weeks I will probably be watching some markets, testing some stuff out, seeing how I feel about getting back into the grind, and looking for ways to further my mental development.
Thank you to everyone who commented, even the Anons, and the seemingly negative comments, which I took as being made to try and help me, and point me in the right direction.
The blog is not definitely closed, if I make startling progress in the next few weeks, and have something new to say, then I may make further posts