bidslamminbobby Lessons From 2018 & Goals For 2019

What’s up everyone bidslamminbobby here ready to share some lessons learned.  Hopefully they will be implemented appropriately in 2019! 🙂

First, before I start I have to say I am most grateful to Jesus Christ my Lord and Savior for all He has done allowing me to overcome huge non trading related struggles during 2018.

How do I improve??

2018 is in the books! What a year.  So much improved upon from 2017.  It all started as a year to implement more discipline, adding to winners, and learning to be more content with whatever I make or didn’t make.

How was I to improve upon so many aspects of trading?  I had no clue.  Prior year I did so well but gave so much back over sizing on the wrong setups yet not sizing enough on prime opportunities.

Trading Journal!!

Madaz had mentioned numerous times in the past to start a journal.  I always thought maybe one day.. I already know what I’m doing in my head, how can a journal really help?  Fast forward to beginning of 2019.  I figured there is no better time then now to start this journal.  It was one of the best things I ever did for my trading.  I could more clearly identify what areas I struggle in and also what worked well for me.  I encourage all traders no matter your level of ability to do this.

Up the size.

Sizing up on grade A setups was something I never did.  I would always use similar size to normal trades but it was time I forced myself to man up and size up on highly liquid trades that were in my comfort zone.  This resulted in some of my biggest days ever.  I would continually have larger big winning days compared to the losing days when those trades presented themselves.

Always learning…

One big issue I faced was when I found an A++++ setup.  One of the best opportunities of the year was only a trade away!  I decided to use lots of margin on it.  That was the biggest 2018 lesson for me in what not to do!  I was sizing up big on the best and it worked rather well so I decided to use mega size for for the no brainer trade.  Why not?  Big size was working on the other trades. Time to be a hero!

I felt like this thinking stemmed from a trade earlier in the year that I wasn’t patient enough on.  I missed out on so much more meat and that probably fueled the fire.  Once my eyes lit up for the next opportunity of a lifetime, I was reminded of my failure to capitalize how I thought I should have.  This time I didn’t want history to repeat itself.

Lesson learned.  When you have massive unrealized gains and they evaporate into thin air it’s easy not to know mentally how to handle this when pushing yourself to the max.  I wasn’t used to seeing those types of numbers staring me in the face let alone not locking them in.  Remember I already sized up earlier in the year so the problem wasn’t increasing but maybe increasing too much given my conviction.  Next time I will also be ready to lock in more if need be, if its not working how I expect.

Very pleased with the year for the most part aside from what I described above.  So the goals are brief going into 2019.

Goals:

-Manage time wisely, there are more important things in life then trading.

– Journal more regularly and maybe more in depth.

– Minimize big loss on favorite setups and limit over trading.

– Try to get familiar with different strategies.

-Limit noise and distractions from social media


How Madaz can help you

Tired of never having shares to short? Does your broker just plain suck?

Madaz recommends Centerpoint Securities as the preferred broker.


Tired of getting late alerts and getting dumped on by your guru?

Madaz recommends Trade-Ideas as the preferred stock scanner.


Are you often missing big moves because it takes you forever to find out the catalyst?

Madaz recommends Benzinga Pro as the preferred Live News Feed service.


Affiliate Disclosure: I know what you're thinking. Madaz, ya sneaky bastard, trying to sneak in some affiliate links. Any compensation I may receive from this will pay for big macs on days where the market isn't feeling so charitable. For a more complete version of this mumbo jumbo, please click here.




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