I was inspired by @RedEyeRishMan and @dushimes to start writing in a trade journal. I’m not trading yet, and I’m still going through the School of Pipsology. Writing down my thoughts about what I learn will be good practice and preparation for the time when I really start trading.
I feel optimistic about myself and my life even though I’ve fallen in a financial pit of despair that I dug myself. I’m a broke, unemployed, single, 46-year-old man who has no social life and lives with my 72-year-old mom.
I’ve come a long way and got through some difficult obstacles to be here right now. I feel like a phoenix rising out of the ashes getting ready to take flight.
I’m using this journal to write a weekly update of my progress and share any insights and ideas. Here’s my first update:
"Forex traders who aren’t serious or committed to the craft will be quickly eliminated by the market."
"If you’ve failed to plan, you’ve already planned to fail."
"Results are usually proportional to the quality of planning. Don’t set yourself up for failure. Set yourself up for success."
I completed the lessons from Developing Your Trading Plan. Those quotes from the lessons made me think a lot about my life. It became clearer to me that all my failures were a result of my lack of planning.
I left home when I was 20 to join a Catholic missionary group believing that I was going to spend the rest of my life there. After six years, I got really sick and depressed. I attempted to kill myself and got hospitalized for a few days.
After I got out of the hospital, I was kicked out of the group with an expensive bill. I had no medical insurance, only had a high school diploma, and no useful skills for employment. It was a struggle, but I was able to recover with some therapy, got a job, and eventually paid off the hospital bill.
Everything could have turned out better, if I had a good plan before I joined that group. I set myself up for failure with my terrible decisions. I should have gotten a college degree first and shouldn’t have assumed that I would be a part of the group for the rest of my life. It would have also been useful to have had some money saved up just in case I ever left the group.
I’ve learned the importance of planning from that experience in my life. It’s also a source of strength that I know will make me a great trader. Blowing out my account multiple times or going through long losing streaks will really be nothing compared to what I’ve already been through. I’m not scared to get rekt!
I’m planning not to make trading my primary source of income. I’m making sure I have a stable income before I start. I’m learning how to code so I can get a job in cybersecurity. Even though I’m almost done with pipsology, I still deal with some doubts and discouragement.
I struggle with being patient with the process of learning and the feeling that I’m so far behind. I know I just have to stay committed to the craft and focus on what’s in front of me. I’ve already come so far, and I can go even farther.
I’m grateful to babypips and the community for inspiring me and helping me to keep going in my journey. Thank you.