I've decided to stop short-term trading. In recent months it hasn't made any money, it takes up a lot of time, and it gives me a lot of anxiety. Even though I am doing systematic trading I find myself looking at the market a lot and worrying about my positions. I can't seem to stop it. And my current position sizes are quite small. After a sleepless night, I've had enough. I already cancelled my orders that were waiting to execute. I will keep the existing Bitcoin and palladium positions until they exit naturally
Going forward, I will need to think about our overall financial plan again. Trend following funds aren't doing well in recent years, so we won't want to allocate that much to them compared to the current target allocation to "futures". What should we invest in instead? Should I still plan to set up an SMSF? I delayed that while I waited to see if trading was going to be a big part of it.
I've been here a couple of times before.
1 comment:
Hi mOOm,
First of all man thanks for the honest disclosure. I appreciate it is a not an easy thing to do. There are a lot of successful stories but few less so.
For my simple mind there has always been a balance in day speculation - for somebody to win, somebody has to lose.
It took $35K loss to a firend of mine to stop trading. He is still addicted and doing it on a small scale, but the risks is always there, that one day he decides to put a lot in one basket.
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