Happy new year, hope you all had a great time with family and friends.
I made a blog post a while ago talking about my failures during 2015: revenge trade was my biggest mistake while trading. But my BIGGEST mistake last year was a simple one: I just did not studied as hard as I should, and I realized that in the last few days when I am spending around 6 to 8 hours studying. I am not kidding: just today I started at 4:30PM, took a brake around 8PM, had dinner with my wife, back to study around 11PM and stop ate 2:30AM, so roughly 7hs studying. I did not calculated how many hours in total I spent studying only this week, but I guess it would be between 36 to 40 hours, the only day I didnt studied at all was december 31st, and my personal goal is to repeat this week for several weeks, months...or years. I know I will get to a point where I can lower the hours I spent studying, but I dont know when or if it will happen.
I started to study about options too, so I watched half of Pennystocking Framework DVD again just to listen Sang Lucci and Michael Goode talk about options, and there is still a lot to study about options. There is a lot of things regarding options that would not be suitable for me at this time, but I just fell that I need to at least have a good idea about the whole picture before concentrate in what I really want to learn, assimilate and engrave in my brain.
In another hand I decided to ditch a few things: I own too many business, and one of them in particulary was making me loosing my mind. I was spending a lot of time, money, effort and energy in something that wasnt giving back any good results, only bad results day after day, week after week, month after month. I got to a point where I was yelling to my daugther just because I was angry and frustraded about this business (a restaurant). That was the turn over point, the last drop into the glass: she is my everything, the reason why I am here today (had a heart surgery back in 2006 and I only got the surgery because she was born). I had to put things into perspective, revaluate my priorities, and put first things first. You guys cant imagine the relief I felt by doing that. She also shows some interest about the stock market, asking me about what I am studying, what are those numbers changing at the screen, what those green and red bars means....who knows, in a few years she might ask to get educated about the market, about trading, about learning a way to work her financial freedom...
Anyway, I can say that I am starting 2016 with a whole different mindset then I had early 2015. Back in early 2015 I was anxious, thinking that the amount of time I spent studying was enough to get me started....and Im glad that I realized how wrong I was before blowing up my account and started making changes. Changed my mindset, my expectations, my hopes, my goals. And what do I expect for 2016? Nothing. Zero. Like I read from Tim´s comments somewhere else, "one trade at the time". And to be equally fair, I heard almost the same thing from Gregg (lx21) at Pennystocking Framework DVD: have ZERO expectations, dont set $ goals, % goals for the year.
The only goals I need to have are those I want for my life and for my family. Everything else needs to be dealed one step at the time.....and one trade at the time.
Hope you guys have an excelent 2016, wish you all have good trades to be proud and bad trades to learn from, and never, never, never, NEVER stop studying and learning.
See you guys tomorrow.