Saturday, February 6, 2010

The Weekend Trader - Iron Sharpens Iron

As iron sharpens iron, so one man sharpens another. Proverbs 27:17

Yes, it's true a few days I ago I considered taking a blog break.  Consider that a scratched trade as I share some weekend perspectives on 
continuing to use this platform to collectively sharpen each other, as well as updated action plans for this trader.

Also, a reminder for those on Twitter that you can be notified of blog posts and other off-blog comments at

Enjoy the weekend.


Airelon said...

Great entry Don. Really great, and I really relate to a lot of things that you mentioned.

I'll tell ya, your entries are helping me as a fellow trader. I've gotten to this stage, where I am so uncomfortable taking my trading to the 'next level' as it were. I got to this area where I 'liked' and was 'comfortable' with the risk level of about $500 to $700, and a reward of around $1200 or so per trade. I've grown beyond that, so now I'm risking so far below what I should be risking. So I 'know' I have to take it to the next level - and I just don't want to. I think the 'help' that I find in your personal journal here? Is that it's nice to know I'm not alone in struggling with 'ramping up the trading endevours'.

Then again, as you mention, "Managing Energy to Enthusiasm" - since I too am doing this publicly, with accountability and showing my losses ... man ... you hit the nail on the head. The negativity can just suck the life out of you. Destroy the desire to blog further, etc.

Great posts, and keep em' coming! They definitely help ...


E said...

How can we, as your readers and "students", help you build your community?

In Florida til the end of February and disappointed I will miss the expo :(

Well, sorta... 75 and sunny here...

I love your comfort with your spiritual side.

Bamboo roots still growing and being nurtured...

Have a great weekend

steve said...

The trading book recommendations are really great and everyone should check out your livestream video about them. I'm enjoying the golf book and the chapter on focusing on a small, precise target really hit home. That works quite well in sports and makes you focus on it and it alone. Amazon even has it used as low as 47 cents today (plus shipping) so it should be accessible to anyone.

leon t said...

don: great posting. and, after watching the video posted a couple of days ago,(how did you know how i was feeling?) i was going to send an email, however, i thought other people could beneit from the answer. so here it is.
i'm up to the sixth jellie video and in it, you discuss among other things your own personal journey. "facing the abyss". although i'm not really there, it is a recurrent thought, and close to my pyche. i've had really bad trades in the past.i was a classic top to bottom 2001 loser.
as i mentioned, i'm not at that juncture, nor will i ever allow it to happen again. yet, after hearing you,and, after having experienced defeat in many instances, i kept asking myself. what was it that turned it around for you. what was the eureka moment, the aha moment. what really did open your door. i think that a post covering that topic would go miles into each reader's personal journey. just like i can feel myself in your experience, losing the "dream" house, moving to the cape,(great move btw), borrowing money, feeling like a failure, etc,. i'm sure we could all feel the same kind of emphaty, with your realization.

btw, it may be that the answer is on video seven or eight and i just haven't heard it. but i still think a post about it would help.

also, i find it funny that very few "mentors" discuss the impact of commisions and other expenses on this bussiness. it's as if there was no overhead. while as you say, sometime the difference between profitability, or lack of it,is precisely the cost of doing they get a kickback for selling "the dream"?

Severino said...

Hello Don,

While I was watching this today it made me think of you.

Well, not so much you Lol, but your trading guest.
Like you Shaun White had a skill set that he desired to take to another level. Both of you already had attained a level of expertise that not many others will duplicate.

What was unique abut his approach was the ability to take out the
danger. This way, he could just work on the mechanics. Like him I am sure that you had rehearsed and visualized it in your head to accomplishment.
Visualization, as we know is an important step. Next he was able to eliminate the danger by utilizing the foam pit. And then finally combining the already achieved tricks with the pit and then putting them together.

So may I ask have you Sim traded (foam pit) your size? Do you, (did you)
work in the size with the tricks, I mean trades you are comfortable with already?
These are not really questions, because I am sure you have done both.

I just thought if you have not seen this yet you would find it
interesting. He was able to accelerate the learning curve by combining the visualization with the comfort level, and what I took as the key, taking out the initial danger.

Not really sure if it fair to compare Sim trading with a foam pit. I guess same thing could be said to losing some replaceable money,and a broken neck.

Be well,


Ps The link was passed on a short while back by the good Dr Brett.

Cerberus420 said...

I am so glad you decided to continue with your Blogging !!! You Rock !!!

I am just getting into the trading arena and you are truly inspirational :)

Please keep up the great work, and best wishes for your trading year.