April 5, 2011 – A New Day. Reset. Restart.

A few days ago, I have done an emotional decision after an emotional decision.  I’ve acted like a drama queen.  If you convert the things that I’ve done to trading, I essentially just blew away and didn’t manage my risks.  I over-leveraged myself, I averaged down and I argued with the market why I’m not profiting from my trading.  In hindsight, everything I did was really stupid, so I do deserve all the negative feedback, the losses etc.  I hope I could ever retract everything I’ve said but I’ve already done my stupid mistakes.  So I’d like to apologize on everyone’s behalf for my misbehaviors.

I was reading articles today : 12 Ways to JumpStart Your Life and A Hallmark of a Great Trader

I realized of course many things.  Let me try to explain.

1.)  Don’t get mad.  Don’t get even.  Be a grace under pressure. Cursing doesn’t do anything, so I vow to myself that from this day on, I will really try my best not to curse at anything or anyone.  It makes me less of a person, and it’s just simply taking unnecessary emotional stress.

2.) Everybody makes mistakes.  Everybody always gets stuck in life. Leo Babauta wrote in Dumblittleman that

The four key things to remember are to 1) not beat yourself up about any of your failures or frustrations, 2) begin thinking positive, and know that you can actually change your life, 3) begin to take action, however small, and 4) build on your small successes.

He shares the following principles which I hope you could all read completely.  He narrated 12 ways to jumpstart our lives.  Here are my top personal picks amongst them:

1.) Taking a Break

You need to take a step back in order to see the way forward.

Sometimes, when I feel a little depressed on my own trading, the best way I know now is not to trade again.  I remember a time wherein I was getting significant losses for a single day, and I just kept on pushing and pushing thinking that buying and selling, will make me regain back the losses that I’ve made for that day. Over trading doesn’t help.   The truth is, I only got myself further and further digging myself a hole which I’d have to grind myself out in the next few weeks, sometimes months and sometimes years.

2.) Create a 2-4 word mantra.  Simplify.  Shorten.

To me, I’d just copy Tony Hsieh’s work.  Deliver Happiness.  That’s going to be my life mantra.

3.) Just One Thing

The key to accomplishing a goal is to have laser-sharp focus, and you can’t do that with more than one goal at a time.

I was trying to do so many things.  I was trying to save the world, write a blog, work my ass off in my own trading, pass an exam, learn this, learn that,  be a better friend, be a better sister, be a better Christian.  Honestly, I just can’t possibly do everything.  I’ve had to fail with a few things to know I just could not accomplish them all. I’m not a superwoman and I cannot do everything.    At the end of the day, we are all limited individuals.  If we focus on just one thing, we’ll be better off.  When we’re done with that one thing, we can then go on to proceed with the next goal.

4.) Identify the Essentials

What’s really important in your life?  Is it being rich? Is it trading better?  Is it telling everyone how good you are?  Is it telling everyone you know better?  Is it helping?  What is it really?  I’ve been trying to analyze these questions in my head, and writing really helps me sort and structure my scattered brain.  I think the essential thing that I can identify for myself is to really just help myself.  Maybe by helping myself, I’ll help others too.  It’s funny.  Being selfish is actually being selfless at the same time.  When we just focus on ourselves (at least the way I see it), I can focus better on being a better person, thereby contributing better to this world.

5.) Eliminate The Rest

I had been stuck doing something I didn’t like doing.  I was complaining.  I was being a freak show.  I was being too attached to other people.  I was too caring.  Frankly, it stopped me from being an effective trader.  So, I simply just distanced myself from unimportant activities so that I can focus on loving my shobe (who is very loving to me) and I can focus on people who love me too.  In order to be a responsible person/trader, we need to just cut our losses.

6.) Start Small

The mistake a lot of people make when trying to change their lives is being too ambitious. I know — I’ve been there many times. We think we can do more than we actually can. Instead, start with a really easy and small goal. Something you know you will accomplish. And then achieve it.

I remember we had this funny line before “COL na lang” – which meant Chip Off Lang.

Whenever we have large drawdowns, it’s hard to just tell ourselves that we’ll get it back the next day.  Traders are prone to having revenge trades.  Not only do we find ourselves in a bigger mess afterwards, but our psychological minds just cannot process tomorrow’s opportunities.  It’s true that when we find ourselves in a lost place (whether it be through trading or in a field that we really love), the best way to jump start ourselves and move forward is to really start small.  We need to build small successes after another.  Well, there’s a problem that leads after this too (it’s called overconfidence, when we get our streak of small wins) but generally, good traders have also tried to combat their overconfidence issues through responsible risk management.  I remember that I once had a winning streak, thinking I was too good, only to fall and give up all of my gains.  I do not want that to happen again.  That’s why I now use a system in order not to make pera maging bato pa.  Although I cannot maximize my gains, I will never ever have paper gains wiped out.  Selling half and trailing stops have always been part of my arsenal of tools as a learning trader.

Don’t try to make a million.  Try to make a hundred first. 🙂

So here’s dimsumtrader moving forward.  Moving on 🙂

Watch this clip.  Disney and Pixar really makes lots of good movies.

Enjoy your days guys 🙂

P.S.

By the way, I had not realized the value of anonymity until today because  my name’s attached to my company too.  I hope that for everyone who reads this blog, to know and understand that I’m deeply sorry, mostly for the people I love, for acting the way that I’ve done.  I do not want to do another mistake again and I’m thankful that I still am here, alive, but barely breathing.  🙂

I have to be very responsible in using my blog because not only is my name attached to it, but in a way, I really value relationships and reputations.  I don’t want to be known as the trader who’s palengkera or just too emotional.  I hope you can all bear with me and tell me to stop my stupidities at times too.  Thank you everyone 🙂

I’ve improved this site in such a way that I’ll always act gracefully under pressure.  Only good vibes 🙂

For anyone who wants to learn from me, I will not allow a dollar obstacle, a fight obstacle, or disagreeing views to part ourselves.  Thank you for always supporting and reading this blog.

 

Btw, this is one really happy commercial 🙂

Advertisements
Comments
25 Responses to “April 5, 2011 – A New Day. Reset. Restart.”
  1. wilson says:

    welcome back

  2. vester says:

    good that ur back!

  3. Cliff Zulueta says:

    Welcome back, may you have many more other candles to light up.

  4. marvin says:

    welcome back dimsum! balik mo din yun fb? 🙂

  5. Jonha says:

    Hi Dimsum,

    I don’t know what happened but I’m definitely glad you’re back. I like you style of blogging as you try to bring in the essentials and not just fundamentals, technicals, etc. You have the soul. May you always have the strength to keep doing what you have to. What you want to. In blogging, we either get claps or slaps. Eitherway, as long as we know what we’re doing is right. Cheerful blogging!

  6. Hey welcome back! Yup! Good vibes lang dapat Nikki… you are way better than the others.

  7. Francis says:

    Nice! ok na ulit blog nya 😀

  8. rick says:

    Nikki, thanks for your new blogs… and your perspective on your “old thoughts.” Continue on .. As always, I will follow your posts closely.

  9. panaliganmo says:

    Great to see your blog up again Dimsum!

  10. harry says:

    i’m glad you’re back, i missed this blog too …. happy blogging nikki 🙂

  11. clifford cosio says:

    glad you’re back. your blog is very informative and well written. mabuhay si dimsum trader!!!

  12. carlosses says:

    I like the psychological point of view when facing consecutive losses. Ive been through those myself and am recovering by making small reachable goals one at a time. 🙂

  13. zaldy says:

    nice to know that you’re back..you help a lot for a beginners like me..nwy fill the gap is still active? pls add me again mam..thanks

    • hello. i havent resuscitated Fill The Gap kasi during market hours, personally I’m also busy watching the markets. I’d think about that, but for now, please just read my blog 🙂 You can always message me through dimsumtrader facebook page 🙂 Either privatemessage or just chat with me when I’m there. I’ll try to help you as much as I can (do know that I don’t just give blind buy and sells…i hate that eh. I try to give an overall view, as to how you see I write my posts naman) 😀

      Ika nga ni Kahlil Gibran –
      The teacher who is indeed wise does not bid you to enter the house of his wisdom but rather leads you to the threshold of your mind.

      So sana by reading the blog, nagiimprove yung trading niyo 😀

  14. Lee Angelo says:

    Nice entry! 🙂 I was not able to view your blog couple of days ago for it’s asking for login, kala ko ayaw mo ng i-share. hehe I completely agree with number 3 for I also experience the same thing, pero after all, okay din kasi ang dami mong nagawa yung nga lang not the best on each because of divided attention.

    Happy trading!

    • hello lee, it was a rash decision on my part. Well i guess we all make mistakes, I made a public discourse on certain practices I felt were not right. But I guess, at the end of the day- to each his own 🙂 I’m done and positive vibes lang. 🙂

  15. jonathan says:

    Those were great personal lessons and realizations you had… Keep on pushing forward and learning. Good luck and more power 🙂

  16. Cliff Zulueta says:

    dimsum, balik mo na yung poll mo. i remember ang vote ko dun is yung ‘maangas pero ok’ parang ganun. anyway, keep up the helpful posts!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: