As June comes to an end (how is that possible already!?!?!?), we are finishing off the first half of the trading year. Which means it is time to do a quarterly/half year check in, reset our goals and plan what to work on for the rest of the year.
It’s important to check in often on how we are doing, so that we can constantly monitor our success, our failures, and get ourselves back on track as quickly as possible. If we look back to the beginning of the year, how are we lining up with our goals.
Perhaps if you wrote down targets or ideas that maybe you didn’t trade or hold - you can see how the markets line up with any of those plans. If you wrote them in TCG Slack, you could always run a search to see how your mind frame, your learning or your ideas have followed through, been negated or changed from January to now. In January we were at all-time highs, greed and euphoria flying, BTC was at $69k, SPY at 480. SPY has now lost 100+ points. Growth names that were high-flyers are down 50, 60, 70%. What were the clues, what have you learned?
And now moving forward into the second half of the year. What are your revised goals for the month, the quarter, the year. How can you autocorrect, and re-steer yourself to make sure you are on track?
For me what I continue to work on is positioning myself for moves, without being faked out first, or time taking me out. That means really focussing on the candles on the time frame I am working on, and realizing what that can mean for shorter time frames so that I can truly adjust to the timing of the positions I want to hold - rather than getting antsy that it isn’t happening fast enough, therefore it must be wrong.
What have you’ve learned so far this year, what perspectives have changed, and how you will use that information to fuel the second half of the year?