I’m still here 10 months on. Been many times where I thought I wouldn’t be and many times where I had to tell myself “I would be”. This far in I understand I still don’t know everything, still don’t have the consistency or stake levels I would like to have, but I’ve well exceeded my wildest expectations so far. Originally I thought if I can make $40,000 in my first year and get paid while learning, great! To make $75,000 in 10 months, crazy stuff.

My penultimate post, possibly anyway. I haven’t posted for ages as the motivation to do so has waned. The reasons I originally started this blog were; to be accountable and to show the path I went down to get to where ever I got to. In my absolute trading infancy blog posts from pro guys were what assured me that I wasn’t about to travel an impossible path. These trading guns weren’t savants, they were just ordinary people that worked hard to build edges in the game. Whether people learned what to do or what not to do, I hoped my journey may help others in the future. As for the accountability, I track my wins and my losses to the cent and I don’t give a fuck if I look stupid anymore. I used to use the fear of looking like an absolute stooge in the public forum as a motivation to “follow the rules”. It worked for the early stages, but as I’ve learnt more, I’ve understood that being wrong and looking like a stooge at times is all a part of it.

Following on from looking like a stooge, “What I learned Losing a Million Dollars” had some great stuff in there that’s really stuck with me. One thing Jim Paul talks about is do you want to be a “prophet or make profit”? Some people get more wrapped up in being right than they do of making money. This has terrible flow on effects including “personalising losses”. It definitely challenged my thinking, made me aware of this thought process and I’m working on completely removing it from my psyche. I’m trading for one reason, profit. I’ll still share some thoughts on my Twitter handle @lukeamac but I’m going to start winding down my blog and focusing on profit.

I’ll do a wrap up of the first 12 months when I get there and then after that, I don’t know if I’ll post again. Never say never, but they certainly won’t be frequent and may not be trading specific. Since my last post though I’ve had a great run, think it’s been about 5 or 6 weeks and my trading is becoming more and more efficient which is pleasing. Took me 10 months, but worked out I didn’t have to plug in my numbers into an online charting tool too, Excel will do it for you. What a noob. Anyway, new looking graph below but it charts the journey in its truest form.

+$26,176.16 account balance +$76,033.92 (10 months, 1 week)

Cheers Mac

Untitled.png

Capture.PNG

One thought on “Prophet or profit?

  1. Hey. Firstly thanks for all the posts on here I’ve only read a few but in my idle time for sure i plan on revisiting the posts on here, so don’t shut down the site too soon, OK? heh

    Hopefully you know your blog has not gone unnoticed — and will no doubt join the rest of the useful blog archives on the web. Just because it’s not active, doesn’t mean it’s not still just as useful as it was a few months back! Heck, I remember reading through Adam Heathcoate’s blog & trying to read all of the posts in the order he put them up in.

    i’m not sure if it’s the same for you but I’ve noticed writing things down is a great way to encourage reflection on your trading decisions and ‘vent’ a bit if needed. Even if you never read this i’ve not wasted my time in writing all this shit down because it’s made me revisit my beliefs and thoughts in general about stuff which leads to them being strengthened or weakened as appropriate. I’ve been a huge promoter for self reflection in the last year or so just because I feel it’s been so valuable as part of my own progress. So maybe spare a moment or two to think about if stopping the blog affects your own progression rate in any way and if so how you’ll seek to replace that in some way if you thought that was something worthwhile to maximise your profits in the future.

    as a reader, it’s great reading something that the writer might have thought was insignificant or not really relevant but perhaps just wrote it down anyway or thought up in passing as they were writing and being able to take something away from that.

    on the topic of accountability, it appears to be that the majority of people are wired to take the same decision path when starting trading, for whatever psychological reasons. I also used to use the fear of looking like an absolute stooge in the public forum as a motivation to “follow the rules”. I started a challenge, held my nerve for a few days and then after I bottled it, just stopped posting — out of shame I guess. But do I care nowadays? Fuck no. Why? Because I too, like you and Jim Paul (I’m gonna have to read this book now), care for profit. Just today I experienced an uncommon streak of losses but I happily posted them because I understand now (unlike before), that they’re a natural part of the larger picture that i’m completely alright with taking short term losses. It’s made me realise that I must have used to take everything at face value and likely judged or was skeptical of those who didn’t seem perfect and as such figured I needed to appear perfect as well to become ‘perfect’, or however i viewed successful traders back then. How naive! Imo i’d guess I lacked enough experience to fully have confidence in what I was doing and how everything was subconsciously uncertain. uncertainty makes us feel uneasy. So the most recent 𝘤𝘦𝘳𝘵𝘢𝘪𝘯 outcome in my mind were those fresh losses, spawning all sorts of emotions and bad decisions to follow.

    at the end of the day people’s opinions aren’t going to change the overall P&L. It took me way too long to realise that. Especially when talking to friends IRL. Unsure when my mental approach shifted to TRULY accepting losses as a part of the game but for me I’d say it was such a key step in the trading journey.

    Whilst your blog journey may be coming to an end it’s given me some further inspiration to one day host my own (I just had this hilarious thought of some kind of baton being passed to me from you. Probably because I just watched like 3 hours of the Rio Olympics

    Take care Mac, gL in the future and I look forward to the 12month piece, PEACE

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s