Aliassmith Beats a "Dead Horse"

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Re: Aliassmith Beats a "Dead Horse"

Postby dojirock » Sun Apr 25, 2021 2:05 pm

aliassmith wrote:
dojirock wrote:no its a personal account. I still have 2 licenses test to take before im fully licensed. As a financial advisor realm, its a completely different world. Long term, conservative compared to what we do here at Kreslik. What got me started on the equities bug was the comparison that can be made vs indices. Commissions free was the big lure for me. I know what I pay a year in commissions to trade futures.. that annual amount could help alot of people. To me the equities is not like scalping in my mind, its long term, lol even though in reality it boarders scalping and swing trading as you can see by the dates of the trades.
One last note, a self traded ROTH is my end goal. No commissions, no taxes! win win.

doji


Im curious why you don't have it as an IRA already? Well for one I guess you can't short in an IRA. The thing about IRA is they have max contribution amounts. I believe its $6000 per year so every year you don't contribute you lose "time"

With your trading you can have a 7 figure nest egg in 10 years.
(I already have the wealth account at those levels I will need to convert my assets into a trust at some point to put a few layers of legal protection in there.)
If you aren't ready to retire keep going
If you are convert it to cashflow.

$700k a year is probably enough for most people.


As a business owner for 36 years I didn't have a 401k or IRA that an employer would match or even health benefits. Most business owners that I know that were my mentors, planned on using the sale of their business as their retirement or keeping it forever and handing it down to the family which would provide them a possible income for life. (Wow, its almost been 2 years since I sold my businesses already) Upon doing so it enabled my wife and I to clean up all our debt and have a small nest egg with the intent of me trading as the income we would need. What really took me by surprise trying to 'retire', was the amount of free time that all of a sudden became available to me and the stress free lifestyle. This may sound strange but in my mind, I was thinking that with all the free time, and no stress of the job, my trading would really reach insane levels. It only took me 6 months to realize that wasn't the case and I was absolutely going crazy with my self and all the 'free time' that had become available. My success and income from trading declined by almost 50%. Just because I had more time for the market with my strats didn't mean the market would give me more! Of course I know that now in hindsight. During that time I began to realize that if something were to happen to me, like, losing my eyesight or my intellectual ability to trade that our small nest egg may need some fluffing if we were to live into our 90's. I also realized that I need something to fill some of all of my new found recreational time. Hence why I decided to become a financial advisor, something in my area of interest, that ability to maintain schedule flexibility and feel my self worth again. In that total of 9 months off after I sold the businesses I found myself in a dark place. I didn't realize how much of my identity and who I am, (using my screen name) as doji, in a sense, was sold with the business. I had to find a new purpose. I thank God every day for helping me get out of that dark place. Whew, kind of got long winded there.
Anyways, I took a position in a firm, able to dress up if I want to and go talk with clients as Im learning the ropes, and I love it. My trading has rebounded, (trading at home). I have started a ROTH IRA and am contributing the $6000 a year along with an additional $1000 as the catch up provision allowed due to me being over the age of 50 with the part time income from the firm. That is why I said "my goal" is to trade my ROTH. Im not 59 1/2 yet and I haven't had it for 5 years, so the flexibility for me to trade it and take distributions tax free without penalty is not allowed yet. My ROTH will be frosting on the cake per say.

doji
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Re: Aliassmith Beats a "Dead Horse"

Postby cheunt3 » Sun Apr 25, 2021 2:16 pm

aliassmith wrote:
cheunt3 wrote:
prochargedmopar wrote:
There is definitely some self sabotage going on.
Yup, I'm afraid to be wrong, even if there is NO money on the line.

Also, I don't need to make a penny and really do enjoy my current lifestyle. :D
Another dad gum 2 week "vacation" trip coming up Tue.

I could use a few more race car parts or some turbo truck upgrades but I already have so many new parts stacked up in the garage that are not being put to use it's rather ridiculous. :mrgreen:

Something that made great sense I read recently was Buffet's 25:5 rule.
Your 50/reset rule I'm sure will work well too. :smt023

In the meantime let me go back to this: ](*,)


Can I suggest that you listen to what Alias said which is to practise being wrong. If you're afraid to be wrong then the problem is right there in your face, don't run from being wrong, accept wrong as part of the game, just embrace it. What helped me from trying to be perfect was a journo, jot down, before, in the middle of, and after a trade. I think I wrote down about 130 entries before it really took it in my feelings. Include everything from racing heart, anger, frustration, blushes etc... helped me a lot.

I am a doer which means I try to solve problems on the fly probably because I was constantly moving in a fast paced restaurant from when I was eight helping my dad in the kitchen. It's very satisfying completing small tasks like boxing things up, cooking the food, prepping food, banter with the customers to keep them happy and when I first started trading I was fascinated with scalping like ES, Doji, Alias, Tro, because I thought it suited my 'doing' personality. After a decade of trying it and trying to copy them, I wasn't profitable at all.

Now, I am stacking (accumulation and distribution) like a madman with MO's eights idea. You make money by taking size from a long term extreme and hold on a large chart. But get this, you have 7 trades to get it right and then you're out. 7 losses with the same starting risk. How unlucky can you be be have 7 losses in a row, it's almost impossible, right?

This method has made me sit my arse down and plan and stop doing and going off tangent. I stacked last week on the m30 and h4 and this week sat on my hands for the last four days not doing anything apart from glancing at my position based on a daily. I am so relax it pretty ridiculous compared to before.

Point I am making is trying to imitate another trader is a waste of time. I see the dazzle, grabbing a few pips here and there, consistently, daily, flashy, looks easy but you need to do it day in and day out for it to pay out well like they are doing it. And they are. BUT, imo it is not for everyone. Maybe it isn't for you Pro?


Would you be willing to do a trade walkthru?
It doesn't have to be live. I would like to see how you pick a bias trigger in, exit criteria. How you add.

Looks like other people view the posts so it could help someone and I'm always willing to see what others do. Its my obsession.


I can do better than my charts, just listen to the master guru himself from Mira's MOnster thread.

therumpledone/how-to-be-a-monster-t16383/page660?hilit=monster

MO_GJ_EX_MIRA-min.png
MO_GJ_EX_MIRA-min.png (177.91 KiB) Viewed 503 times


week-min.png
week-min.png (31.42 KiB) Viewed 503 times


D-min.png
D-min.png (13.95 KiB) Viewed 503 times


H4-min.png
H4-min.png (49.44 KiB) Viewed 503 times


Cones for better entries and exits.

My first target is minimum weekly CZ, then median CZ, then the high end target CZ. Median and high end targets are also not important but if I reach that that's a bonus. % gain is more important than number of pips for me. I also almost always exit on large candles too, then start the lines process again.

People keep asking me about bias and sure it does help to have one, but since 2 lines of M30 is the same risk as two lines of H4 and as the same risk of D etc ... it really doesn't matter because all you are doing is stacking constantly and seven chances before death. MO said it before, stacking is more valuable than holding, doesn't matter which timeframe because you're just losing lines and not the entire risk. I stacked for three weeks straight once and the month turned the opposite way and I still had OPM.

If bias is what you want then you really can't go wrong with weekly momo with the context of where that momo started from.

I know my bias and targets sound very flippant and that's because they are. I am not you, TRO or Chappy or Lem with precision entries and iron will discipline, I just can't do it so I stick to $/line and % per week ok with me.
MO "Don't try to predict what will happen next, simply aim to consistently apply your ideas."

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Re: Aliassmith Beats a "Dead Horse"

Postby aliassmith » Sun Apr 25, 2021 4:50 pm

dojirock wrote:
aliassmith wrote:
dojirock wrote:no its a personal account. I still have 2 licenses test to take before im fully licensed. As a financial advisor realm, its a completely different world. Long term, conservative compared to what we do here at Kreslik. What got me started on the equities bug was the comparison that can be made vs indices. Commissions free was the big lure for me. I know what I pay a year in commissions to trade futures.. that annual amount could help alot of people. To me the equities is not like scalping in my mind, its long term, lol even though in reality it boarders scalping and swing trading as you can see by the dates of the trades.
One last note, a self traded ROTH is my end goal. No commissions, no taxes! win win.

doji


Im curious why you don't have it as an IRA already? Well for one I guess you can't short in an IRA. The thing about IRA is they have max contribution amounts. I believe its $6000 per year so every year you don't contribute you lose "time"

With your trading you can have a 7 figure nest egg in 10 years.
(I already have the wealth account at those levels I will need to convert my assets into a trust at some point to put a few layers of legal protection in there.)
If you aren't ready to retire keep going
If you are convert it to cashflow.

$700k a year is probably enough for most people.


As a business owner for 36 years I didn't have a 401k or IRA that an employer would match or even health benefits. Most business owners that I know that were my mentors, planned on using the sale of their business as their retirement or keeping it forever and handing it down to the family which would provide them a possible income for life. (Wow, its almost been 2 years since I sold my businesses already) Upon doing so it enabled my wife and I to clean up all our debt and have a small nest egg with the intent of me trading as the income we would need. What really took me by surprise trying to 'retire', was the amount of free time that all of a sudden became available to me and the stress free lifestyle. This may sound strange but in my mind, I was thinking that with all the free time, and no stress of the job, my trading would really reach insane levels. It only took me 6 months to realize that wasn't the case and I was absolutely going crazy with my self and all the 'free time' that had become available. My success and income from trading declined by almost 50%. Just because I had more time for the market with my strats didn't mean the market would give me more! Of course I know that now in hindsight. During that time I began to realize that if something were to happen to me, like, losing my eyesight or my intellectual ability to trade that our small nest egg may need some fluffing if we were to live into our 90's. I also realized that I need something to fill some of all of my new found recreational time. Hence why I decided to become a financial advisor, something in my area of interest, that ability to maintain schedule flexibility and feel my self worth again. In that total of 9 months off after I sold the businesses I found myself in a dark place. I didn't realize how much of my identity and who I am, (using my screen name) as doji, in a sense, was sold with the business. I had to find a new purpose. I thank God every day for helping me get out of that dark place. Whew, kind of got long winded there.
Anyways, I took a position in a firm, able to dress up if I want to and go talk with clients as Im learning the ropes, and I love it. My trading has rebounded, (trading at home). I have started a ROTH IRA and am contributing the $6000 a year along with an additional $1000 as the catch up provision allowed due to me being over the age of 50 with the part time income from the firm. That is why I said "my goal" is to trade my ROTH. Im not 59 1/2 yet and I haven't had it for 5 years, so the flexibility for me to trade it and take distributions tax free without penalty is not allowed yet. My ROTH will be frosting on the cake per say.

doji


I had a similar findings. I had a lot of free time. I traded and researched. I got depresssed and gained a lot of weight. I discovered I had to add extra curricular activities "to have purpose" or basically die inside.

Good to hear you found a healthy path.
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Re: Aliassmith Beats a "Dead Horse"

Postby dojirock » Sun Apr 25, 2021 4:58 pm

Amen, brother... Nice chat
Thanks
doji
It always takes Momentum to break Momentum!
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"

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Re: Aliassmith Beats a "Dead Horse"

Postby aliassmith » Sun Apr 25, 2021 6:03 pm

cheunt3 wrote:
aliassmith wrote:
cheunt3 wrote:
Can I suggest that you listen to what Alias said which is to practise being wrong. If you're afraid to be wrong then the problem is right there in your face, don't run from being wrong, accept wrong as part of the game, just embrace it. What helped me from trying to be perfect was a journo, jot down, before, in the middle of, and after a trade. I think I wrote down about 130 entries before it really took it in my feelings. Include everything from racing heart, anger, frustration, blushes etc... helped me a lot.

I am a doer which means I try to solve problems on the fly probably because I was constantly moving in a fast paced restaurant from when I was eight helping my dad in the kitchen. It's very satisfying completing small tasks like boxing things up, cooking the food, prepping food, banter with the customers to keep them happy and when I first started trading I was fascinated with scalping like ES, Doji, Alias, Tro, because I thought it suited my 'doing' personality. After a decade of trying it and trying to copy them, I wasn't profitable at all.

Now, I am stacking (accumulation and distribution) like a madman with MO's eights idea. You make money by taking size from a long term extreme and hold on a large chart. But get this, you have 7 trades to get it right and then you're out. 7 losses with the same starting risk. How unlucky can you be be have 7 losses in a row, it's almost impossible, right?

This method has made me sit my arse down and plan and stop doing and going off tangent. I stacked last week on the m30 and h4 and this week sat on my hands for the last four days not doing anything apart from glancing at my position based on a daily. I am so relax it pretty ridiculous compared to before.

Point I am making is trying to imitate another trader is a waste of time. I see the dazzle, grabbing a few pips here and there, consistently, daily, flashy, looks easy but you need to do it day in and day out for it to pay out well like they are doing it. And they are. BUT, imo it is not for everyone. Maybe it isn't for you Pro?


Would you be willing to do a trade walkthru?
It doesn't have to be live. I would like to see how you pick a bias trigger in, exit criteria. How you add.

Looks like other people view the posts so it could help someone and I'm always willing to see what others do. Its my obsession.


I can do better than my charts, just listen to the master guru himself from Mira's MOnster thread.

therumpledone/how-to-be-a-monster-t16383/page660?hilit=monster

MO_GJ_EX_MIRA-min.png

week-min.png

D-min.png

H4-min.png

Cones for better entries and exits.

My first target is minimum weekly CZ, then median CZ, then the high end target CZ. Median and high end targets are also not important but if I reach that that's a bonus. % gain is more important than number of pips for me. I also almost always exit on large candles too, then start the lines process again.

People keep asking me about bias and sure it does help to have one, but since 2 lines of M30 is the same risk as two lines of H4 and as the same risk of D etc ... it really doesn't matter because all you are doing is stacking constantly and seven chances before death. MO said it before, stacking is more valuable than holding, doesn't matter which timeframe because you're just losing lines and not the entire risk. I stacked for three weeks straight once and the month turned the opposite way and I still had OPM.

If bias is what you want then you really can't go wrong with weekly momo with the context of where that momo started from.

I know my bias and targets sound very flippant and that's because they are. I am not you, TRO or Chappy or Lem with precision entries and iron will discipline, I just can't do it so I stick to $/line and % per week ok with me.


Thanks for the follow-up. I understand what you are doing. I don't usually have the patience to hold that long. I do stack/add on small timeframes. Start stacking and normalizing risk then exit when PA looks sketchy. End up with a couple percent up to 20% depending on the size and structure of the move.

Fractually its the same. Psychologically its different.
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Re: Aliassmith Beats a "Dead Horse"

Postby aliassmith » Sun Apr 25, 2021 7:51 pm

Epilogue 1:

If you didnt understand fully what was going on in my mini-series I will dig a bit deeper now.

Where does the $450 come into play?

The $450 is a fee for the 5ers $40,000 plan. For this type of prop firm model they seem to be credible.

This type of model can be well suited to traders that are profitable but not exactly hitting double digit returns each month. Many of the "gurus" I see risk too much and thats how they make big returns until they blow their account.

You start with a $10,000 live evaluation account. The goal is to make $600 without breaking their "rules". You will have 6 months to accomplish this level. If you can't make 6% in 6 months, you definitely need more practice anyways.

Once you hit your 6% goal the evaluation is complete. You get your full $40,000 with no time limits, but the "rules" are still in effect.

At this point forward every time you make 10% your account doubles all the way to $1,280,000.

One somewhat unknow piece of info is you can have up to 3 separate accounts.

I don't get paid by them for putting this info out there. In fact there are other firms with "similar" structures. There is CTI and Lux Trading to name a couple.

Most importantly DO YOUR OWN DUE DILIGENCE

TBC....
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Re: Aliassmith Beats a "Dead Horse"

Postby IgazI » Sun Apr 25, 2021 9:39 pm

prochargedmopar wrote:Though MO says to EXIT at a PERCENTAGE.


IMO, just make everything about dollars +/- from line to line.

Set a maximum daily loss limit of say $200 to $500 + OPM and then stay within the limits that you set.

The chart below has lines every 2 pips and each line could equal $20 or $30 or even $50, but, as line values increase,
you want to be very confident that you are not going to exceed your daily loss limit; more pips between lines = more confidence.

pro_eg.png
pro_eg.png (32.6 KiB) Viewed 403 times

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Re: Aliassmith Beats a "Dead Horse"

Postby aliassmith » Sun Apr 25, 2021 10:01 pm

IgazI wrote:
prochargedmopar wrote:Though MO says to EXIT at a PERCENTAGE.


IMO, just make everything about dollars +/- from line to line.

Set a maximum daily loss limit of say $200 to $500 + OPM and then stay within the limits that you set.

The chart below has lines every 2 pips and each line could equal $20 or $30 or even $50, but, as line values increase,
you want to be very confident that you are not going to exceed your daily loss limit; more pips between lines = more confidence.

pro_eg.png


I agree, MO started using the lines to simplify a couple things. One of them being position sizing. Im sure he started to realize most people didn't follow his 1/4, 2/4, 6/16, process. The lines were there to make it easy to see and normalize alll timeframes and charts.

If you are making lines on eurusd they are equivalent to gbpjpy.
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Re: Aliassmith Beats a "Dead Horse"

Postby prochargedmopar » Mon Apr 26, 2021 2:16 am

dojirock wrote:
aliassmith wrote:
dojirock wrote:no its a personal account. I still have 2 licenses test to take before im fully licensed. As a financial advisor realm, its a completely different world. Long term, conservative compared to what we do here at Kreslik. What got me started on the equities bug was the comparison that can be made vs indices. Commissions free was the big lure for me. I know what I pay a year in commissions to trade futures.. that annual amount could help alot of people. To me the equities is not like scalping in my mind, its long term, lol even though in reality it boarders scalping and swing trading as you can see by the dates of the trades.
One last note, a self traded ROTH is my end goal. No commissions, no taxes! win win.

doji


Im curious why you don't have it as an IRA already? Well for one I guess you can't short in an IRA. The thing about IRA is they have max contribution amounts. I believe its $6000 per year so every year you don't contribute you lose "time"

With your trading you can have a 7 figure nest egg in 10 years.
(I already have the wealth account at those levels I will need to convert my assets into a trust at some point to put a few layers of legal protection in there.)
If you aren't ready to retire keep going
If you are convert it to cashflow.

$700k a year is probably enough for most people.


As a business owner for 36 years I didn't have a 401k or IRA that an employer would match or even health benefits. Most business owners that I know that were my mentors, planned on using the sale of their business as their retirement or keeping it forever and handing it down to the family which would provide them a possible income for life. (Wow, its almost been 2 years since I sold my businesses already) Upon doing so it enabled my wife and I to clean up all our debt and have a small nest egg with the intent of me trading as the income we would need. What really took me by surprise trying to 'retire', was the amount of free time that all of a sudden became available to me and the stress free lifestyle. This may sound strange but in my mind, I was thinking that with all the free time, and no stress of the job, my trading would really reach insane levels. It only took me 6 months to realize that wasn't the case and I was absolutely going crazy with my self and all the 'free time' that had become available. My success and income from trading declined by almost 50%. Just because I had more time for the market with my strats didn't mean the market would give me more! Of course I know that now in hindsight. During that time I began to realize that if something were to happen to me, like, losing my eyesight or my intellectual ability to trade that our small nest egg may need some fluffing if we were to live into our 90's. I also realized that I need something to fill some of all of my new found recreational time. Hence why I decided to become a financial advisor, something in my area of interest, that ability to maintain schedule flexibility and feel my self worth again. In that total of 9 months off after I sold the businesses I found myself in a dark place. I didn't realize how much of my identity and who I am, (using my screen name) as doji, in a sense, was sold with the business. I had to find a new purpose. I thank God every day for helping me get out of that dark place. Whew, kind of got long winded there.
Anyways, I took a position in a firm, able to dress up if I want to and go talk with clients as Im learning the ropes, and I love it. My trading has rebounded, (trading at home). I have started a ROTH IRA and am contributing the $6000 a year along with an additional $1000 as the catch up provision allowed due to me being over the age of 50 with the part time income from the firm. That is why I said "my goal" is to trade my ROTH. Im not 59 1/2 yet and I haven't had it for 5 years, so the flexibility for me to trade it and take distributions tax free without penalty is not allowed yet. My ROTH will be frosting on the cake per say.

doji


Ha, I "retired" the end of last July.
Free time? LMAO.
I'm just now starting to hit my stride on the years of projects I've got lined out to catch up on.
All this DAMN traveling/vacationing has kept me out of my groove.
Bout to leave Tue. for another 2 weeks.

It was kinda weird at first NOT having a J.O.B. to use as my Identity.
Also, not having a SET schedule.
The biggest thing was DIET.
Being able to walk by the fridge ANY time I wanted was not a pretty picture.
Even worse I started going out to eat a lot because it always seemed like the weekend. (celebrate good times....hey hey)
THAT SH!T HAD TO STOP OR I WOULD HAVE BLOWN UP. And I ain't talking biceps or Quads either.

My dad leaves for MI on his summer 5mo. vacation next week so He'll be gone when I get back.
This means I can get my routine setup to wake-up, work-out, trade, then hit the garage before having to do home-school with my daughter.
Afternoons are mostly family time.

I'm 51 and luvin' life!
LET'S GO!!!!!!
Last edited by prochargedmopar on Mon Apr 26, 2021 2:31 am, edited 2 times in total.
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Re: Aliassmith Beats a "Dead Horse"

Postby prochargedmopar » Mon Apr 26, 2021 2:21 am

aliassmith wrote:
dojirock wrote:
aliassmith wrote:
Im curious why you don't have it as an IRA already? Well for one I guess you can't short in an IRA. The thing about IRA is they have max contribution amounts. I believe its $6000 per year so every year you don't contribute you lose "time"

With your trading you can have a 7 figure nest egg in 10 years.
(I already have the wealth account at those levels I will need to convert my assets into a trust at some point to put a few layers of legal protection in there.)
If you aren't ready to retire keep going
If you are convert it to cashflow.

$700k a year is probably enough for most people.


As a business owner for 36 years I didn't have a 401k or IRA that an employer would match or even health benefits. Most business owners that I know that were my mentors, planned on using the sale of their business as their retirement or keeping it forever and handing it down to the family which would provide them a possible income for life. (Wow, its almost been 2 years since I sold my businesses already) Upon doing so it enabled my wife and I to clean up all our debt and have a small nest egg with the intent of me trading as the income we would need. What really took me by surprise trying to 'retire', was the amount of free time that all of a sudden became available to me and the stress free lifestyle. This may sound strange but in my mind, I was thinking that with all the free time, and no stress of the job, my trading would really reach insane levels. It only took me 6 months to realize that wasn't the case and I was absolutely going crazy with my self and all the 'free time' that had become available. My success and income from trading declined by almost 50%. Just because I had more time for the market with my strats didn't mean the market would give me more! Of course I know that now in hindsight. During that time I began to realize that if something were to happen to me, like, losing my eyesight or my intellectual ability to trade that our small nest egg may need some fluffing if we were to live into our 90's. I also realized that I need something to fill some of all of my new found recreational time. Hence why I decided to become a financial advisor, something in my area of interest, that ability to maintain schedule flexibility and feel my self worth again. In that total of 9 months off after I sold the businesses I found myself in a dark place. I didn't realize how much of my identity and who I am, (using my screen name) as doji, in a sense, was sold with the business. I had to find a new purpose. I thank God every day for helping me get out of that dark place. Whew, kind of got long winded there.
Anyways, I took a position in a firm, able to dress up if I want to and go talk with clients as Im learning the ropes, and I love it. My trading has rebounded, (trading at home). I have started a ROTH IRA and am contributing the $6000 a year along with an additional $1000 as the catch up provision allowed due to me being over the age of 50 with the part time income from the firm. That is why I said "my goal" is to trade my ROTH. Im not 59 1/2 yet and I haven't had it for 5 years, so the flexibility for me to trade it and take distributions tax free without penalty is not allowed yet. My ROTH will be frosting on the cake per say.

doji


I had a similar findings. I had a lot of free time. I traded and researched. I got depresssed and gained a lot of weight. I discovered I had to add extra curricular activities "to have purpose" or basically die inside.

Good to hear you found a healthy path.


I'm not sure I understand how people can "retire" and then NOT have things to do the rest of their lives.
I've got all kinds of dreams/projects/family time to spend before everyone kicks it.

Life is so damn short it's crazy.
Live it up.
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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