Something Great Finally Happened

[james_gsx 16]

Today I was trading (granted only 2 ES trades and the rest were options) and following my plan like usual. I don't want to say I was in the zone, but I was definitely aware of the market and the opportunities.

 

As the day came to a close I remembered a few of my trades and how I went about them. Then it hit me, I felt absolutely no emotion during the trades. I saw them, took them, and looked for the next one. After the trade was over, I thought nothing of it and moved on. I was quite proud of myself and my trading plan, and it felt good.

 

So this is pointless without any explanation how I got here. As some of you know, the emotional side of things has been my weakest link. I believe that weakness was due to my lack of execution. I finally told myself to stop coming up with excuses and just execute. Execution has been my theme for 08 and it has done amazing things for my entire life.

 

I simply sat down this morning and looked at my trading plan. I took my notes through the day, and when I saw my trades come up whether it was an ES trade or various options trades I took them and didn't think twice about them. My week was profitable, granted I'm not a millionare and I didn't make a ton of money. But I improved the bottom line, and this is my business and it was a profitable week and that's what matters.

 

I now view my trading as my business, and the key to any successful business is execution. I have seen and heard of many executives failing because they talk talk talk and never do anything. So my advice to any newbies who are struggling is simple: Sit your ass down and just get it done. Write that plan, and execute the plan. There will be emotion at first, but the more you execute and just get it done the faster your learning curve will become. You'll realize that you aren't lacking any intelligence or some holy grail, but simply screen time. And the only way you can improve your screen time is by actually trading and getting it done. It might seem silly, but you'd be amazed at what happens when you finally start doing things and following through with yourself. You'll become more motivated, and your trading will improve.

 

I'm not a professional trader yet, and I know this is just the start of my unemotional road. I understand there will still be trades where I will feel emotion. But I know this is the start, and I am very excited with what's to come. Good trading everyone.

[MrPaul 10]

Thanks for sharing that with us James!

[Jakew 10]

Excellent insight from James.

 

Drucker wrote a quite fameous "The Effective Executive", that says among other things:

 

- Executive is, first of all, expected to get the right things done. Brilliant men are often strikingly ineffective - they never learned that intelligence becomes effectiveness only through systematic work. Intelligence and knowledge are essential resources but only effcetiveness converts them into results.

 

Business writings of Drucker, Slywotzky (on profits), Collins (Good to Great - excelent trading book:) have - in my view - direct application in trading. For those who want to treat trading like business.

 

Cheers

[brownsfan019 17]

Nice to see James! We've had many conversations in the candlestick corner and I can see your evolution from newbie hobbyist to serious business owner. As you've seen, it's a big step and a profitable one as well.

 

There aren't too many on the board that I feel 'connected' to, but you are one of them. I hope our conversations helped, regardless if you actually used any of the ideas we talked about. You've made a giant step and now you need to build on this momentum.

 

You still have my email and I am just a quick note away if you need an ear or two.

[shreem 10]

Hello James, thank for sharing your insight. What you have said is truly a gemstone to succeed in the business of trading. I am very happy when I hear a trader making one of his most important move in his trading career which is being able to overpass the emotional turmoil involved in trading.

 

When you can do that and follow your plan to the letter without any emotional involvment, a true serenity will come inside you and it will never quit you. I guess that is what is called a Ah! Ha! moment.

 

Dear James, I am truly happy for your achievement and wish you great success in your trading.

 

Your sharing is really a great to boost to newbees (like me) to have the will and determination to take all the time necessary to develop a trading plan and learn to execute without fail.

 

BTW, that i what I am in the process of creating by "digesting" and incorporating the great teachings of DbPhoenix, Soultrader, Jperl, yourself and some others.

 

Thank a lot

 

Sincerely

 

Shreem:)

[Bearbull 10]

Amen to all,

James, you reflect the epiphany of all those who have crossed over.

Keep posting, it will be most encouraging to newcomers to this site.

[Hlm 10]

That's great to hear James. Awesome job! :thumbs up:

As brownsfan said, keep building on this momentum.

[james_gsx 16]

Thanks everyone.

 

Brownsfan, you have helped a lot more than you know. So have a lot of the people in the chat like HLM and various others.

 

What I really want to point out though more than anything is the power of execution. I know that becoming a full time trader can be a daunting task and can sometimes paralyze you. But if you break it down and take the first step to execute then you will become successful if you don't give up. I'd rather fail and try, then never try at all.