I keep all of the charts from my trading history handing on the wall in front of my desk at work (I stole this idea from IBD). As I hung up my $BEAV trade tonight, I realized that I am now in positive territory for the year and just about even for my career (A big chunk of the losses came when I let some guy convince me that I was good enough to short the S&P. I wasn’t.). I know I shouldn’t confuse the outcome with the process, and I certainly had more money in the later trades than the earlier ones, but it is nice to feel like I am making genuine progress.
Also hanging on that wall are two photos of The Breakers Hotel in West Palm Beach. Anyone who has read any of the Livermore books knows he vacationed there frequently. I always liked the idea of him “taking a break from the markets” to relax in Florida. I am leaving for a week vacation on Wednesday, but I don’t really want to take a break from the market. I actually want more time to study and analyse it. I have an open trade that is currently the biggest winner of my career.
Fortunately, I won’t really be away from the market. Thanks to my Ipad and Iphone (I LOVE $AAPL) I won’t have any problem keeping up with what $PCLN is doing and will still read IBD every morning. I am actually curious to see if a vacation mindset might give me a different perspective on the market (Who do I think I am? Jim Rogers?). At the very least I should have plenty of time to study.