One More Stepping Stone

 Day 0

It's Saturday. I'm tired...it's one of those 4 letter words that is not appearing as 4 letters - tired (tire). I try not to use it much or at least catch myself if I do use it like I just did. But that's how I feel and I think it is warranted because the wife is out of town and the kids still need to get all of their shinizle done - and me too. I'm learning here. I'm coming back from some financial distress. Done it before and I'll do it again, only this time I'll be better - Get more of the finance and less of the distress this time. But how? Ah, yes, How?! I've had to step back my sizing and re-evaluate the trades I'm taking and the risk that is right for each trade. Mostly I'm watching - but watching and waiting is trading - right?! I've been checking out the Kelly Formula to figure my risk - not going to go into it because I don't want to. Friday was a good day. I traded IOVA a couple times and I put in stops - something I'm working on - because it is a set stop and there for I'm am showing that if the price goes here, I'm wrong - I accept this risk. That's pretty big - for me. I'm use to letting things go a bit which is why things were getting out of hand at times. I don't let things get out of hand anymore - that's the attitude. I just read Tom Hougaard's,  "Best Loser Win" so I've been really practicing adding to my winners (my other goal). So while I didn't really add to my winners, I did set a stop so 1/2 goals achieved on Friday. I'm probably going to be keeping the same goals forever. Or at least until they become second nature. It's interesting because after having starred at the market long enough - there is that moment when you see it, I'm mean you really really see it. Sometimes it's 30 or 40 minutes or more into the trade (that I shouldn't have gotten into so early) and then you realize it's going to go, and if it doesn't I'm wrong.  And it goes! But did you size into when you ACTUALLY saw it? I have before, but have I made it a habit? Or do I just pull the trade as soon as it goes, being thankful that it went my way? Timing is a huge factor! The longer I've been waiting, the more likely I'm going to us exit a trade. So time it better, and then all that waiting can happen in the money! rather than near break even or out of the money (the pits, the stress pit). I'm just going to say it here, though I'm probably going to say it again, I will likely be repeating myself throughout these journal posts. What else am I working on - sizing. I was sizing up very big (big for me), probably too big for my current (past) habits (the ones I'm getting rid of). I'm sure this sounds like a smorgasbord of stuff, but I think as I get into the swing of things it will be more about the day than the overall.  I still have the meeting today, want to do some tape reading, and review some charts, and definitely do some more reading. That's all I have for today - Just need to make this separate from  my prep/review and I'll be on my way - 7 figure trader me, here I come.