It is 5:00am but have been awake since 3:00am. Slept at 11:00pm. So not much sleep. Don't know why I woke up but I could not get back to sleep. Random thoughts kept me awake.
What is really stressing me out is the fact that I'm in "no man's land" in terms of career. My current "career" is day trading but thus far my performance has been awful. The problem is not that I am losing money out right, I am not, but that I am not making money enough to cover my trading expenses let alone cover my living expenses ($3000/month). And this is killing my account balance. I cannot sustain for long with this kind of bleeding.
Went to a "trading class" with the guy named David. It is not actually a class. What he does his talk about his recent trading activity - mostly about how much he has made in the past week or past month. Apparantly he is a very successful day trader but he really does not have a strategy, it'll intuition. While I don't get much out of it, it does help listen to a successful trader because it gives hope.
I changed my trading account to "retail" from "prop" because I could not pass Series 55. It is quite disheartening but my dissapointment soon gave away to the fact that I didn't have to pass it. The good thing is that "stops" work and that has helped me with my trading capability. However, my trading results have not improved. In fact, my trading volume has spiked up because of the "stops" caused me to over-trade.
I really need to improve my trading results. It has been almost 6 months since I started trading and I have no more excuses. May be my last excuse is that August is a horrible month to trade and may be I should be extra-cautious during this period. If my trading results do not improve significantly by end of November, I need to seriously consider Plan B and Plan C.
Talking about alternative plans, I need to put in the seeds now because waiting for November/December will be too late. What I really need to do is to think of alternatives, which I have not.
More later.
