The Weekend Trader - Perspective Shift

OK, after a long weekend of intense private reflection which included eight hours at the Foxwoods cash games today, I think I've regained at least some perspective on life and the last month thanks in part to E's comments, along with several heartfelt discussions with some very close industry peers.

Here are the highlights of both the external and internal discussions:

- In 17 months, you've slowed down at times, but never taken an extended break;
- You've earned in 17 months what it would take many at least four decades to earn;
- December's slowdown aside, you've finally hit an extended performance wall ... recognize it;
- Above all, protect what you've accomplished ... you're at a point in life where preservation may be more important than growth;
- Lessen focus on the 12/09 target ... simply take what the market and your performance give you and allow yourself time to address your back issue and enjoy some of the summer.
- Damn it Don ... relax, put some fun back in your trading, and take some real time off, will ya? You've more than earned the right to do anything you darn well want now, and can choose when to "play the game" ... if at all.

OK, this bull-headed trader is listening. And while I'm not going to shut down, I am going to implement the following change in mindset which will hopefully sync with my highly-driven personality (which ain't gonna change).

- View the last year and a half as a continuous game that remains in progress until ended.
- Decrease emphasis on the time element in my trading targets and simply let the protective stop and any future gains do the work and tell me when it's time to stop. The stop (which is a month-end stop) remains as I suggested on Saturday ... $2.0M. The game ends when the stop is hit.
- So long as the game remains in progress, replace the specific 2009 earnings target with a realistic accumulated earnings (beginning 1/08) target range. And that range will initially be $2,500,000 - $2,700,000.

All of these changes are reflected in the new chart to the left. And if you can figure out why I've chosen to show the chart upside down -- which is intentional -- drop me a comment!

Please understand my intent since restarting the engine in January 2008 was always to continue on full speed until -- and not before -- peformance told me otherwise. And now that seems to be happening.

So the great game continues, albeit with some slight shifts in perspective.

I know this ... it can't get any worse than May's tepid profit.

If it does, the protective stop will ensure it doesn't get any worse than $2 Million.

I can see the heads nodding. Just don't hurt your neck "E" :-).