What’s Next for the Site,Money Management Requests and How am I Doing
To answer a number of questions all along similar line of thoughts, here are my answers. My current spam to actual email ratio is about 15 to 1. My spam filter could only catch 50% of the spam mail. The actual number of emails that I need to response to personally is now about 50 to 70 per day. I am sorry I cannot address all of you individually but I am sure you can understand. Here are the three most popular questions you’ve sent me lately and my detail answers to each of them.
What’s Next for DaytradingBias.com?
I have big plans in place in the beginning of the year but many things have been side-tracked and others just not working out as expected. However, the core objectives have not changed. Namely, I will continue to improve the real-time trading assistant tools with my proprietary trading setups so that it can do a good job in assisting traders to make sound trading decisions in the markets supported.
The introduction of combined trading models is in the card. These models are based on the combination of various statistical biases that lead to stability in performance. Rules will be fully disclosed in special reports to those interested in in-depth understanding the models.
Thus, lately my writing effort is all focused in the delivery of these more advanced research reports on my trading models. I will resume writing more on the site when my workload is reduced after the releases of some of these reports.
Can You Manage My Money?
The short answer to your kind requests for me to manage your money is no.
Long answer has to be done from several angles. First, legally I am not allowed to solicited for money management business because I am not likely being licensed as a financial advisor in your country’s jurisdiction. Second, you do not really know me on a personal basis to trust me with your money. After all, even though I am quite transparent with my work on day trading, I have not disclosed much about my role as advisor to my clients who trust me with their money. Third, these family offices with large portfolio of assets, for which I am responsible for just a small portion of their speculative capitals (even though the amount involved is still very significant), have confidentiality clauses binding me not to discuss my work under any circumstances. This means I cannot show you my trading performance which is unfair to any potential investor.
Realistically, by investing your time and effort into learning more about trading and the underlying structure of price discovery, majority of retail traders can derive their own solid trading strategies that fit their needs to grow their capital steadily. It can take years before one can get this accomplished. The path to success can be brutal but it is doable. The main obstacle that affects most of the retail traders is not that they have not acquired the secret trading techniques they think that is necessary. It is their unwillingness to give up their egos for which blocking them from being able to properly manage their risk with trading.
What’s Happening Personally?
Thank you everyone who wrote me personally after I blogged about my birthday week this year. I am doing much better now comparing to almost two years ago when my significant other passed away, both physically and mentally. I have restructured my life so that I can stick to certain schedule every day. I now limit the amount of time I spend on trading, research and writing. I am planning to take vacations from time to time (finally) although that has not happened yet.
My trading will become even more mechanical than ever. That’s due to a very good reason. As we age, our ability to response to very fast market conditions can slow down significantly. I know I can still handle fast markets very well but the time will come that I will no longer be able to catch up with the bots. Going all mechanical with at least some of the trading models will eliminate the human factors affecting performance. For the time being, the human factors are working in my favour as I can outperform my own models most of the time. Five years from now, I am not too sure that will still be the case.
Some of my clients actually suggested that I should create a benchmark entity for which I can showcase the performance. I am seriously considering to do that if I can resolve the logistic issues. This can help more people seeing what can be accomplished with a disciplined approach to trading. It is also a bold step for me since I am not used to put myself under the microscope for public examinations.
I think that’s all I have to say this week. Later.