Quest

"Just trade the ticker, not the company"

&

"It's a marathon, not a sprint"

My Daily Routine

So how do I manage trading? I mean I have a full time job where I have to put up at least 41h per week. I have to manage my own household, I have to cook for myself and have to study for my PhD. But still it is possible if you have a structured day. Below you see how I spend my days during the week, weekends of course are already fully packed, because I want to have time with my girlfriend, but I also study with her. So when I sum up my hours I spend just during the week, I have every week at least 5 hours of exercise as balance because I have to cycle to work (why, see HERE), I work 42.5 hours per week in average so I can pay my bills and have a secured education if it does not work out as I want! I still spend over 30 hours for my trading challenge. Of course the time blocks shift sometimes, for example, when I am under the PDT rule, I do not watch the market from 15:00-16:30, I prefer to get home earlier and study there! You have to FOCUS! But for everyone out there, you have to find the time, otherwise you will not even have the chance to become successful in this game!

 

Regarding the times I probably should explain something. I am in Europe, so the regular trading hours of the New York stock exchanges from 9:30am to 4pm EST are 3:30pm (15:30) to 10pm (22:00) my time.

 

Best regards

STicker

Trading Rules

I really like rules, but they only are useful if you STICK with them! They are my guide, they remember me on key-points I have learned during my time of study! I am sure, if I want to be a successful trader on the long run I have follow them!

 

1. Plan each trade! 

2. Get out if it doesn't play as predicted! 

3. Only trade a good setup, do not force any trade! 

4. Be patient and not emotional! 

5. Continue studying, learn from losses and gains!

6. Be thankful and not greedy! 

 

Those rules remember me the following:

 

1. I need to have a plan, a thesis I have come up with!

2. I have to cut my losses quickly when my thesis is wrong!

3. I have a job where I can rely on my income!

4. My emotions cloud my judgement, and stocks need some time to develop!

5. I have to study to get better, and minimize further losses!

6. Every win brings me closer to my overall goal!

 

The only thing that stand above all of this is "Cut Losses Quickly"!