I’ve been sick. Again. I had cancer in 2007, that was one hell of a sick, and more recently I was back in hospital for close to week. I was grateful it was only pneumonia. Got me a good one too, couldn’t walk, dehydrated, seeing small midgets dancing on tables.
The cause? Over-worked, neglectful behavior and a dose of stupidity. Up to 2007 I worked 80 hour weeks, traded part time, raised a new born baby and assumed bullets would bounce off my malnourished chest. They didn’t.
I spent the next 6 months getting the most toxic poisons known to man pumped via a sharp needle through my veins. I spent the next 2 years trying to find my life again. Not fun, you don’t want to try it.
This time? Trading 60 hours a week, raising my second newborn and forgetting the bullet lesson from 4 years ago. This time I got lucky, pneumonia seems like a runny nose when the alternative is cancer. If the above sounds anything like your normal working day, you are heading down a slippery slope.
So what has this to do with trading?
I began trading in 2001 with one aim, to escape the daily grind of the corporate jungle, with a soft cushion of $100’s to sit on each evening. I had the hope that trading would take me away from bashing out code on a keyboard and managing clients for 80 hours a week. It is now 2011, I trade ok, but I only managed to cut 20 hours off that 80, not good enough.
Trading shouldn’t have to be about studying charts hour on hour, churning out trade after trade as I day trade any market that moves. I don’t want to sit in front of a screen all day, I’ve done that for close to 12 years, now I do it trading, it sucks, and it can suck the life out of you.
Trading can provide a way to enjoy the better things of life; family, children, and having the means to give back. Trading should equal flexibility.
Trading is hard work, it needs study, discipline, risk management and emotional control. It shouldn’t have you stuck to a screen all day long if you don’t want it to. There are many, much easier jobs that will pay you to do that. Trading should mean you are a slave to no-one except your own inadequacies.
Everyone should dedicate themselves to an area of expertise in the markets. Some like the squiggly line, others like mathematical ratios, wave counts or one of the other methods found in a bookstore. I’m going to explore the use of time in trading again.
Let me make it clear, currently I trade price on short term charts, and I study time. That balance needs changing.
I’ve found my old studies on cycles, time, Gann, Astro economics, and many more outside the box methods. I used to study this back in 2004, but it is something I let slide when I took the easier option of a price method I developed that seem to do well. It did, and still does, but now I am once again a slave to price. Yuck!
If you think trading using time as your primary method is a bunch of hoohah, well phooey to you, you are both incorrect, and in the wrong place. Time is no more or less a viable method than price, they are both numeric, they are both linear, and they are both on every chart you can find. You take price, I’ll take time, I’ll meet you at 4 or when price reaches 1.3044, let’s see who get’s more done in the meantime.
Now life, slow down, I’m trying to keep up.