Wednesday, June 30, 2010
Wednesday Notes - A Crowning Achievement
Don't you love how dentists call grinding a tooth down to its stub "prepped"? I call it torture.
Yet in a way, perhaps the title is fitting in that I've continued to catch a bit of a tailwind with my trading as the summer rhythms have been rather kind in terms of opportunity ... leaving our job to simply not throwing up all over ourselves in the process (great visual, huh?)
And while this month was far from my best in terms of profitability as I purposely cut my sizes back, I'll argue that it may have been one of the satisfying "grinding" months ever given that it was -- by far -- one of the most critical months of my career.
This is because for the first time in my "post-figured-this business-out" career, I was doubting whether I still had the (A) tenacity and (B) desire to not only fully recover from the events of May 6 hit and get my capital back above my critical career trailing stop (as I said recently, below which it had never dropped), but to re-establish the necessary blend of consistency and confidence -- the former breeding the latter -- to plant the seeds for recapturing what I'll call a championship caliber performance level ... and on a sustained basis.
Simply put, I can't overestimate the importance of this month at this end.
So I tweaked a few things:
- Reduced sizes (at the same time proving you can run a nice store with modest sizes).
- Reduced # of trade sequences (to levels where my broker was wondering where I was).
- Barely traded the Europe markets (although I of course traded ES during those times).
- Made consistency my highest short-term priority (thus the temporary blog counters).
- Often narrated non-stop in the Jellie room while trading so I wouldn't lose focus.
- Ramped up supplement program (to help this 49-year old brain feel like 25).
The net result is that which you see in the top left corner counter, and a month that ended with a strong 30-to-1 ES win/draw dollar ratio. Yea, I know, shades of the multi-month ratios in the '04, '07, '08, and '09 zones.
Posted by Don Miller at 1:45 PM