#very similar feeling to every time I open up my spreadsheets of statistics. lose all sense of time. crawl out hours later covered in blood

[liesonthefloordramatically]

can someone explain to me why futzing with the LMS is like some sort of focus blackhole

every time I open it up to start building courses I look up and it's hours later

[southwindscoffee]

Um so I had an amazing year

You cannot get poor enough to help poor people thrive or sick enough to help sick people get well. You only ever uplift from your position of strength and clarity and alignment. – Abraham/Esther Hicks

 So.

 I had an amazing year.

 And I’m embarrassed to say it because I’m not dumb. (At least I hope I’m not.) I look around and can see suffering. Upheaval. Sickness. Poverty. I’m not denying those things exist or minimizing anyone else’s experience.

 But I wanted to share why I had an amazing year with the intent of uplifting someone else.

 Maybe you.

 I’m ending the year feeling happier, healthier, richer, more creatively fulfilled, and closer to my family than I have in a very, very long time. I credit this to a few small but key things—and overall, to one book.

 Last year about this time I listened to Atomic Habits by James Clear. I’ve lost track of how many copies I’ve bought of this book. Maybe four? At least two hardback copies, because I gave one away. Simply stated, the audio changed my life.

 Just—if you’re sick of listening to yourself complain about your bank account or weight or whatever, and you’re serious about changing things, go read/listen to this book.

 AND THEN ACTUALLY DO WHAT HE SAYS. The little, dumb, tiny changes. Because they add up.

 Last year I got sick of complaining about the same things year after year. And since I mostly complain in my journal or in my own head, it was a very boring place to be. I got sick of wondering why the balance in my bank account didn’t change, why I wasn’t losing weight, and why I wanted to write so much and wasn’t getting anywhere, even though I tried.

 But these things (richer, slimmer, more creative) were also what I really desired, deep down inside. I wanted to feel more financially stable, healthier (defined by weight loss), and to write more. (Well, I already wrote plenty. I wanted to write stuff and put it in public where people could actually read it.) These dreams felt very special and secret, but I think they’re somewhat universal—at least for authors.

 (Please note: I know that mental health can get in the way of taking any action at all. I’ve written about my depression and anxiety before. If this blog entry makes you feel overwhelmed, please know I’ve been where you are. Focus on taking care of yourself in whatever way you can and don’t worry about all this aspirational ambitious stuff I’m writing. Because the aspirational and ambitious can simply be getting out of bed and taking a shower. I’m proud of you for hanging in there.)

 After listening to Atomic Habits, I decided to do the following macro habits all throughout 2020—and I checked these off on a little grid in the James Clear journal:

 1. Take my vitamins.

2. Save $5 every day.

3. Write 10,000 words per week.

4. Post a blog entry every Wednesday and Saturday.

5. Go to the gym 3-5 times a week.

 I thought that these were things that could get me to my goals—richer, slimmer, more creatively fulfilled. And overall—happy.

 I also had some habits I already did. These were:

 1. Meditate for 10 minutes every day. (I usually use a guided YouTube video).

2. Write three pages longhand as Morning Pages (per Julia Cameron). (Incidentally, I’ve done this for decades and credit it to the reason I don’t get writer’s block.)

3. Take a Swedish lesson on Duolingo.

 I just wanted to keep these up.

 I have lots more habits … like brushing my teeth or whatever (and I actually floss because I bought the stuff and leave it out where I can see it), but the ones above are my more unusual habits.

 Well, what happened?

 1. I took my vitamins. Boring, but I’m also quite healthy, so maybe it helps my overall wellbeing. I haven’t been sick all year. I keep them by my bed where I see them and remember to take them.

 (Yes, I wash my hands all the time and don’t touch my face. And yes, I stayed home in quarantine. Yes, I wore a mask when I went out. But I think taking vitamins helped.)

 2. I ended up saving $5 every workday not every day. I either transferred the money to a Capital 360 account because it’s hard to transfer it back or put $5 into a Stash account. I sometimes would skip Starbucks or something similar and feel virtuous about transferring the $5. Other times I just transferred it.

 At the beginning of the year, the Capital 360 account had $5. It now has $806.

At the beginning of the year the Stash account had $50. It now has almost $2500. (Buying $5 here and there in March when the stock market was down ended up making about $500 over the year, a 23% increase.)

 Um, so that’s like $3200 I just kinda now have. Incidentally, $5 per day is $1825 over the course of the year, and I’ve almost doubled that because I invested it, not just saved it—and also sometimes I’d transfer like $10 or $25 if I was feeling wild. Over the months, I saw how the account balance would get close to an even number (like $500), so I’d transfer enough to make it that amount. And it just kept going.

 (Also, I’m not intending on this to be money advice. Go talk to someone who actually knows. My thought process was to hedge my bets with doing both safe and speculative—a savings account that earned interest and then various stocks. I also wasn’t spending money I needed for food, shelter, etc. I barely felt the expense, but I very much feel the accumulation of savings.)

 There really is magic in just starting to do something small, because it really does compound and snowball into good things. 

 Maybe in the grand scheme of things $3200 isn’t that much. To me it feels like I have this cute little cushion I literally created out of loose change in a year.

 Honestly, it feels like a lot, not “cute” or “little.” If I don’t compare myself to millionaires, it’s kind of amazing.

 What would happen if you transferred $1 or $2 a day? By the end of 2021, see how much you have…

 Another money habit: I wanted to stop buying so much online and one-clicking so many ebooks—even free ones—because it was just too much. I had like 800 unread books. So I kept track of the days I didn’t buy anything or download any books. My ecommerce moratorium ended up being streaks of time I didn’t buy anything and then a day where I would buy everything off of Amazon or whatever all at once. Not sure it did much except make me feel marginally better. With ebooks, while my TBR count is less than what it was at the beginning of the year, it isn’t the zero I’d hoped it to be. But I seriously read about 300-400 books—about 1-2 a day. (I read fast and don’t sleep.) My “read” pile jumped from 800 to 1100. Not sure what to make of it except I read so much and it was really fun. So, I still have about 680 books on my TBR pile for next year. That can be another habit to work on.

 3. I’ve written more than 530,000 words this year. The habit I tied it to incidentally, was opening my laptop. If I open my laptop—and that’s a habit I record with a tick mark on a grid—it’s a lot easier to get into the document and start writing. So the way I trick myself to write is I tell myself all I have to do is open my laptop. Simple. I check off the box that I did it and I feel virtuous. To reward myself for actually getting the word count, I have a little jar with binder clips in it and every 1,000 words I put a binder clip in a small old milk bottle. Then I can see the words add up.

 I also did a spreadsheet to know what I’ve written this year. I’ve never done one before because it felt too quantitative rather than qualitative. Writing is supposed to be this outlet for me, not something to beat to death with statistics. But I’m glad I did it because writing can be so amorphous. Putting parameters on it made it feel real.

 Oh, and I’ve finished one book, set to be published in February. I have a contract for another, and it’s (today) at 77,000 words. Three more books are 50% or more done. And I did NaNoWriMo. So, yeah. It was a productive year.

 I also learned that I like juggling projects. Focusing on one can make me stagnant. If I get stuck on one, moving to another really seemed to keep my momentum going.

 But I’m now focusing on getting them done and shipped. One at a time. Because they’re all just so close I can feel it.

 4. Before this year, I’d published eleven blog entries from 2017 to 2019. This year, I’ve posted 97, not counting this one. I missed a time or two at the beginning, but um, yeah… That’s a big difference.

 The reasons I wanted to focus on posting blog entries were multifold. I’d felt “out of it” as far as publishing, having worked on one book for so long that wasn’t gelling. I’d felt frustrated and jealous of those who got their work done. I needed the instant gratification—so to speak—of putting something out there while I worked on projects that took longer. I also wanted to inure myself to the fear of putting myself out there. With each entry—still—I feel fear, but I wanted to do it anyway. So that when the time comes to publish more fiction, I can go, “yeah, I’ve hit publish (literally) 100 times, what’s the big deal?”

 My guiding point for writing a blog post has been my gut feeling—tempered by wanting to reach out and help someone else. But to keep up a streak, there is a document on my computer called “Default blog post.” This is what it says in its entirety:

 Default blog post

 I told myself I just needed to post a blog every Wednesday and Saturday.

 Here is me keeping that promise.

 If you see that, well, you’ll know how the week is going.

 Is there an endgame here? What am I going to do with these blog posts? I can see me taking some ideas and expanding on them and creating some sort of nonfiction/self-help kind of book. I’ve always wanted to do that. I do see them as steppingstones to something bigger.

It also lets me be okay with imperfection. Typos. “Think-Os.” Whatever. This is me with no editor.

 5. So, the gym. Well, until it closed, I was going. My trigger was that I just had to check in. That was how I checked the box. Like opening the laptop, actually getting to the gym is the hard part. Once I was there, it was easy.

 But the gym closed and is still closed. Like all of us, I needed a Plan B. (C? D?)

 I’ve done short walks and long. Currently, I’m just working on doing pushups. I can do a lot of pushups with my knees on the ground. But I can only do a few “real” ones, so that’s what I’m keeping track of. I’m focusing on doing them slowly and properly, not faking my way through them. Faking them is easy, but I’d rather be able to do them right and have the actual arm strength. My trigger for when I do them is when I close my journal, I have to get down and do pushups. (Currently it’s seven.) To someone else that goal might be ridiculously easy. To me, it’s rather difficult and a little embarrassing to post, but whatever. I’m being honest.

 I’m ending the year a few pounds lighter than last year—and lighter than I’ve been in years—so I’m calling it a win.

 With the other habits, meditating keeps me happy as does dumping my brain in the morning pages. Oh, and I’m on day 622 in a row of Swedish on Duolingo. It feels like I’ve taken about a semester of college Swedish. Not enough to actually converse with someone but getting the hang of it. I’m motivated by a desire to go to Sweden and see some ancestral places—and actually understand some of the language, even though I know most Swedes speak better English than me.

 With COVID-19, like most of us, I’ve spent more time at home, but I’m temperamentally suited to that. I know it’s hurt extroverts hard, but as far as I’m concerned, I got to see my family more—even when I went to the office for work.

 What am I looking forward to next year? I like the habits I started for 2020. I just want to keep these systems up, because they seem to be working for me. I hope that by using these systems I end up with four to five books happily published in 2021 and I look forward to seeing how the exercise and money habits work out as well.

 This entry is about two or three times my usual blog entry, so if you made it this far, thank you. I hope it inspires you to take a small action and then keep taking that small action over and over again. They really do add up.

 I wish you the most amazing year ever in 2021. Know that it’s possible.

[mikebellafiore]

This retail trader just crossed 100k in trading profits

Last month on Twitter, I spotted this tweet and impressive equity curve from a developing retail trader:

As the managing partner of a proprietary trading firm in NYC, I study traders succeeding.  This retail trader is succeeding! I reached out and asked him a few questions (in bold), hoping to learn from his success.  Below are his answers.

Who are you and where are you from? Why did you get started in trading?

I’m a retail trader from Sydney (@_jpark89 on Twitter) and videos such as “How to make $1000 in 10 minutes,” “How to buy stocks before they spike 200%,“ “How to turn $1000 into $10,000,” were my introduction to the trading world.

Since then I made some easy money (100% luck), blew up a couple accounts, started over with a $600 account (third time’s a charm) and recently crossed $100,000 in overall profits.

What obstacles have you overcome to succeed? Why have you been successful?

Trading wise, I’ve had to deal with the same obstacles most small retail traders face when starting out. Inadequate guidance, small account, high commissions, lack of borrows, you name it.

Why have you been successful?

I think I’ve been successful because I didn’t use these “obstacles” as an excuse for why I couldn’t make it and put in the necessary time and effort in order to succeed. I worked to support myself financially, I traded or at least watched the market action from 9:30am to 4pm and did the required work outside of market hours in order to improve (which in the beginning, I didn’t even know how to do).

What mistakes are underperforming traders making that you are not?

I started posting my daily P&L on Twitter in mid-2016 as a way to objectively document my progress and connect with traders who may be at a similar level. Through this process, I was able to connect with traders of different skill levels. There were a handful of common issues that I was able to identify among the newer or not yet consistently profitable traders, but the two that stood out to me most were that they:

1) Focus too much on their P&L and not enough on process

They equate positive P&L to good trading. Sure, who in their right mind would prefer to lose money over making money? Let’s say for example this week, Monday through Thursday Trader A made $100/day and lost $100 on Friday. Does that mean Friday was Trader A’s worst trading day? Not necessarily. In my opinion, trading is a game of probabilities and risk management. The best you can do is enter trades when the odds are in your favor and manage your risk accordingly. There is no strategy out there that has a 100% win rate (except the guys who trade on a laptop by the beach with bad WiFi) and therefore you will have days where you do everything right and lose money, just as some days you will make horrible decisions and walk away with a profit. The focus should be on something you have full control over, such as solid trading practices, whatever that may mean to you. If your strategy has shown edge over time, the only thing you need to worry about is the consistent execution of your plan and P&L will take care of itself. Who is likely to be the better trader; the guy who made $10,000 in his first and only trade or the guy who made an average of $100/day over 100 days?

2) Cannot define their edge and make setups their own

It may be beneficial to learn setups and ideas from others especially if you are new. However, somewhere down the road I think it’s absolutely necessary to have your own take or variation on those setups and make it your own. Long breakouts, short failed breakouts, long at support, shorting a parabolic move, shorting a daily chart breakdown on earnings miss and lowered guidance, there are literally a million different ways to make money in the market and you only really need to master one trade to be on your path to consistently profitable. Generating your own additional reasons for setups that make sense to you as well as the criteria for entries and exits are, in my opinion, paramount to developing conviction in your trades.

Who has influenced your success and how?

I have learned so much from many different people on Twitter but these are the people who have had the biggest impact on my trading.

@Investorslive – Nate not only taught me the basic technical concepts but I learned a lot from his daily stock commentary. This helped me learn the dynamics of supply/demand on certain stocks which gave me one of my first “ah-ha” moments in trading. Aside from the technical aspect, he was the one who drilled the importance of process over P&L into my head early on. “Trade well and profits will follow,” is my favorite quote of his that turned my trading around.  (Bella note: If you have not already J Park, it might be time for you to give back here.)

@modern_rock – Early in my trading career, he opened my eyes to not only what was possible in terms of P&L, but also the level of consistency that was achievable. Bao taught me the importance of singles (not looking for home runs on every trade) and consistency. I highly recommend checking out @mrockrulez where he shares his own personal trading rules and the lessons he has learned along the way.

@kroyrunner89 – I learned the basics of Level 2 analysis on OTC stocks from Tim as well as a more methodical approach to finding my own setups through building spreadsheets and collecting statistics. Openly talks about his biggest losses and his plan going forward to overcome these bumps, which I have found to be very useful.

@MikeBellafiore – The author of my two favorite trading books, One Good Trade and The PlayBook. I came across his books when I was already somewhat of a consistently profitable trader but they were instrumental in helping me break out of the $100-200/day channel. They gave me a more structured plan on how to progress with increasing risk through a few basic concepts and also provided me with a better way to review my trades. Aside from the trading aspect of the book, the “You can be better tomorrow, than you are today,” mentality was my biggest takeaway from the books.

What are your goals for 2017?

1) Trade bigger Size has always been something I’ve struggled with, but I’m trying to push outside my comfort zone as often as I can, while still staying in control emotionally. Sometimes this may mean taking on just $50 of extra risk on a trade, but I’ve learned that this can add up quick over time if done consistently. I would love to get to a stage where I’m comfortable risking $1000 on a trade in the next few months and perhaps $2000-3000, by the end of the year.

2) Expand my PlayBook Around 80% of my trades are on micro/small cap momentum stocks, typically under $20. I’m trying to get more familiar with anything that’s not my core niche.

3) Connect with more traders Sharing my progress on Twitter has allowed me to connect with many different traders of all levels. I believe this has helped me progress tremendously and would like to continue learning from traders of all different skill levels.

……..

Study the traders succeeding.  They will help your trading game!

As always, please feel free to reach out and Ask Anything about your trading- mbellafiore@smbcap.com.

Bella

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