Thanks Maarten. I usually spend 1-2 days post each month in deep review. It is one of my central processes to stay targeted and grow. I am still new to writing so my Substack posts take a bit more time to write and structure
Great share Austin, so incredibly relatable. Ultimately, price action is the truth but it is interesting how our emotions can get in our way, right? My focus has been to just automate myself as much as possible, it is the most freeing feeling when you do it. As my swings are usually weeks to months (with adding to winners along the way) I often face earnings with my holdings. My rule is to assess implied volatility the week prior to earnings, cut to minimal size on any pushes in the desired direction (if ideally that happens) and add back if appropriate after the results. If it fails to follow through in the desired direction, I cut it-zero emotional ties. Always an evolving process!
Tough decision re running into earnings but ultimately comes down to your risk profile. No doubt you will receive your share of fat tail events to the upside. True winners will beat and re rate. It is the misses that always scares me. I love focus on automation and implied vol
Agreed, that is where the implied volatility and the cushion need to be in line. Otherwise I am ok with re entry if I need to, those misses can undoubtedly leave a mark.
What a great monthly review! I was wondering how many days/hours you schedule for this review? Such a review is very important, one must really think about this for some days I would reckon to analyze, find solutions and think about the implementation.
Awesome post Austin. I think this is one of your best posts so far! You really transported me as a reader into your office while you adapted for earnings.
The indirect mentorship through your sharing has been invaluable. Thanks again. One thing I definitely need to work on for next earnings links back to focussing on less - was doing well into 3rd week of Feb, then massive give back due to burn out/reactionary trading/trying to get involve in everything,push end of month p/l etc. All we need to make the month is really just a fair few. I also skipped my grading sheet because there were so many names, which is exactly why focus was lacking last week of Feb. Like you said "It is these negative outcomes that propel you forward".
Mate you had me at the opening line of "If you do the same thing over and over, expect to get the same results" and got me yelling out the line "Use the tells"! Awesome read and well done on your February results.
Thanks Maarten. I usually spend 1-2 days post each month in deep review. It is one of my central processes to stay targeted and grow. I am still new to writing so my Substack posts take a bit more time to write and structure
Great share Austin, so incredibly relatable. Ultimately, price action is the truth but it is interesting how our emotions can get in our way, right? My focus has been to just automate myself as much as possible, it is the most freeing feeling when you do it. As my swings are usually weeks to months (with adding to winners along the way) I often face earnings with my holdings. My rule is to assess implied volatility the week prior to earnings, cut to minimal size on any pushes in the desired direction (if ideally that happens) and add back if appropriate after the results. If it fails to follow through in the desired direction, I cut it-zero emotional ties. Always an evolving process!
Tough decision re running into earnings but ultimately comes down to your risk profile. No doubt you will receive your share of fat tail events to the upside. True winners will beat and re rate. It is the misses that always scares me. I love focus on automation and implied vol
Agreed, that is where the implied volatility and the cushion need to be in line. Otherwise I am ok with re entry if I need to, those misses can undoubtedly leave a mark.
What a great monthly review! I was wondering how many days/hours you schedule for this review? Such a review is very important, one must really think about this for some days I would reckon to analyze, find solutions and think about the implementation.
Awesome post Austin. I think this is one of your best posts so far! You really transported me as a reader into your office while you adapted for earnings.
You are very kind! So pleased you are enjoying and thanks for the ongoing support
The indirect mentorship through your sharing has been invaluable. Thanks again. One thing I definitely need to work on for next earnings links back to focussing on less - was doing well into 3rd week of Feb, then massive give back due to burn out/reactionary trading/trying to get involve in everything,push end of month p/l etc. All we need to make the month is really just a fair few. I also skipped my grading sheet because there were so many names, which is exactly why focus was lacking last week of Feb. Like you said "It is these negative outcomes that propel you forward".
My favourite part of this is “Defined rules are the true solution to overtrading”- this is something I’ve been struggling with, thanks for the clarity
👍🏻
You really killed it, congratulations on the payoff from your hard work!
Well it’s a platform to go and do better. Thanks
Mate you had me at the opening line of "If you do the same thing over and over, expect to get the same results" and got me yelling out the line "Use the tells"! Awesome read and well done on your February results.
Ha! Use the fella I think is very relevant for discretionary traders. Thanks as ever
Great read - thank you
Congrats on your month. Fantastic read. Thank you
Thanks Johnny and appreciate the read. Hope you managed well mate