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Showing posts from August, 2016

When A Bad Trade Works

Trin Café "a trading for a living blog, inception 2017" was suppose to serve as a easy to read disclaimer of what Trin Café is about, and a reminder to myself that I will not put any capital at risk until 2017.  Well, inception came earlier than expected, I began trading as early as the month of August. 
2017 has been the chosen time frame because I would be able to commit my time from market open to market close. I've said it many times before, to have a chance at day trading successfully, it requires a method that's at least a break even win loss ratio, decent money management principals, and the time to be there in the moment when your method and the market are all aligned.
I rarely post charts on Trin Café anymore because I don't believe charts to be of value, a lot of what it means to trade is to be in the moment, putting your experience and capital at risk will be different for every individual trader. A traders circumstances and risk tolerance is like the…

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…

Stock Market Performance by President

My First Paycheck

It feels kind of embarrassing to admit that I have never paid myself from any of my previous trading 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.

Don't Trade!

Someone once told me that "the older I get, the more I repeat my old stories", to that I say, some stories are worth repeating.

One of the most difficult things about trading is consistency. Consistency in not just your trading method, but in your state of mind.

If you need a pep-talk or feeling the blues, don't trade.

Think you need to prove the naysayers wrong, don't trade.

Need money desperately to pay bills, don't trade.

Think your an amazing trader and can not lose, don't trade.