8/27/16

Trin Café Performance



For the few trading bloggers who share their daily, monthly performance, I tip my hat to you all. I experimented with various "performance" pages here on Trin Café over the years, and admittedly, discontinued because another small (practice) trading account was hit with the dreaded margin call.

Now that I am weeks away to trade for a living, the idea of posting a performance page is giving me mixed feelings. I question the purpose or motivation for a P&L page.

1. Maybe to prove to (no offence) anonymous Trin Café visitors that trading for a living has some merit?

a. A track record of profits would be questioned as faked, I have nothing to prove.
b. Family, friends & neighbors and random strangers have a view into my pocket/bank account.
c. The realities of being down 10% in one month and up 5% by the end of the month can be stressful, it requires a lot of emotional fortitude to accept that as part of a trading business. Having to explain this with a non-trader is not a conversation I am prepared to have.

2. Maybe, I could share my trades as an educational service?

a. I would feel like a salesman.
b. Trading requires a personalized method that suits the individual's risk tolerance and time frame.
c. I would feel like a salesman.

3.  Maybe displaying an impressive P&L will help promote and sell.... (Fill in the blank)

a. I would feel like a salesman, I question trading websites that push newsletters, training videos, and paid for coached sessions on their website.
b. To successfully trade, how would anyone have the time to coach?
c. Would be nice to have advertisers who pay.


Disclaimer: I have never paid for a trading newsletter or a coaching service. My contrarian nature has a distrust of salespeople; if anyone has had a great experience with any paid for trading service that they feel has helped them become a better trader, please comment or contact me.

8/17/16

8/9/16

My First Paycheck

It feels kind of embarrassing to admit that I have never paid myself from any of my previous profits. I think my excuse or reasoning was that I didn't feel an urgent need for the money. For years I have been able to just rationalize that, "I'm building my account" or, that the capital I was trading with was just a trader's "tuition". This logic is flawed for many reasons, the main one being that it leads to bad habits. By not taking a predetermined % of profits, I'm putting profits at risk. I don't know if you can relate to this, but I'm subconsciously telling myself I can take a risky trade or even worse, take a trade not within my method ...also known as a bad trade; all because I view the profit in my account as "house money."

I'm not funding an expensive hobby, this is my business.