i'm probably staying out of the market this week. i'm staying off the video games as well. i tried to stay off coffee today but i started a small batch of cold brew last night and it was too tempting to pass up a test of it. i stored most of it and there was just enough left in the press pot for one cup so i had to have one. it's so much better than regular brew from our coffee pot. damn thing has been burning the heck out of the coffee lately.
couldn't sleep to save my life last night so i stayed in bed till about 11:00 hoping for at least a couple hours, but i didn't get it. i'm dragging but i don't want to nap in case i can't sleep again tonight. so today is a tough day because i'd like to use the down time to read, study, and continue working on organization, but i can't think clearly enough to be effective in any of those things. i'm gonna give reading a try but we'll see how useful it is. i have to finish this book before i develop my trading plan because i want to approach the plan from a partially informed perspective, and i think there are probably some good tips on planning in it that i'd like to incorporate.
i opened an account with thinkorswim and have been testing the trading platform for a few weeks. it comes highly reviewed all over the internet, and so far it seems like a solid platform, i just don't like the charting capabilities. anyway, i'm thinking of switching out of scottrade because i need more tools than scottrade offers. lately i'm skeptical of the equities markets so i'm thinking about taking up trading the futures market. i'll most likely start with the e-minis and move into the agriculture or metals markets when i feel more comfortable. it appears easier and safer as long as one doesn't overtrade or trade beyond his capital level. part of my trading plan will be to limit individual positions to a small percentage of my account. something like 2-5% if it's feasible. from what i've initally read it's possible to trade futures with a lot less capital than the equities market requires, and the big plus is there's no pattern day trader rule. no need to worry about restricting my account for being under a minimum equity requirement.
hopefully i can use this week to get recombobulated and jump back in to trading asap. it's strange that i feel so scared to put my money out there now because i haven't even messed up all that badly. i was analyzing my performance since i started trading full time and i've at least beaten all the major indices. not that they've provided a great benchmark as they're all down by a couple percent, but to me it's a morale booster. my first six months in the market weren't a catastrophe and i guess that's all any new trader can hope for.
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