Maintaining your perspective can be challenging when markets reverse or become volatile. What is your perspective? How did it change? Stating these out loud may make your days easier and far less stressful.
Today’s Market Tarot is less about the market and more about my Trading this morning. I had a great number of losers and nearly reached my daily lock out for the day. In the afternoon I asked “what happened this morning, What can I change.” These are the cards I drew. Again, the set I use is The Wild Wood Tarot created by Mark Ryan & John Matthews with illustration by Will Worthington.
20. The Great Bear – This card is about judgment. These includes judgement of self and others. It teaches us to be compassionate and loving to self.
5. The Ancestor – Represents your inner guide, the part of your unconscious that knows everything. She is leading you to a new path.
17. The Pole Star – Is about guidance, again from your inner self. Knowing that the stars are aligned so that you may follow.
I saw this layout as The Great Bear crawling towards the other two cards. That my judgement is attacking if you will my inner guidance. Both from a feminine & male perspective. While the Ancestor leads you into the woods with her heart, the male depicted in the pole star follows point A to B. Knowing how my morning went I understand this as following my intuition, my trading ideas, and to stay away from judgement. That being kind and forgiving to self is most important.
In turn, I had a successful afternoon 🙂
I thought it would be fun to do a reading mid-day on the market. Read the Market Tarot cards can help. The layout that I felt was Past->Present->Future (from left to right). I drew the following cards…
Aces of Stones: The Foundation of Life – This card discusses manifesting your dreams, wishes etc into reality.
Six of Stones: Exploitation – This card speaks of an imbalance of resources that are damaging to yourself or the environment.
The Ancestor – Represents your inner guide, the part of your unconscious that knows everything. She is leading you to a new path.
How does this relate to the market? The reading was done around 1:00pm EST. Aces of Stones represents the base that was built in the AM. This is also related to the large significant up move we had on Wednesday. Six of stones I believe speaks to the grind higher all afternoon. This was not a healthy move and we have damaged ourselves in the process. The last card, The Ancestor talks about a new path. I would think that this card speaks that the close of today / afternoon trading will represent a new trend in the market.
Lets face it, day trading isn’t the most beneficent job in the world. Even the most popular saying involves comparisons to farm animals, “Bears get rich, bulls get rich and pigs get slaughter.” We’re often assicated with the pursuit of one goal, to aquire that which is “the root of all evil,” money.
After being in the red for nearly than 8 months. Then oscillating between above and below water for 2 months I finally starting to turn consistently profitable after reading One Good Trade by Mike Bellafiore from SMB Capital (That’s another post). I felt a great sense of accomplishment but it was pinned to a lack of contribution to a greater good. So I devised a way to give back. To take the greed, the karmic “debt,” and try to give day trading a new name.
Any day I make equal or greater than 2 standard deviations of my average net profit in a day (about 500 – 1000 for me) 10% of all earnings before taxes gets donated in one of two ways. I give to my favorite charity or “donate” the amount of time I spent trading that day to an organization through volunteer work. I donate to organizations dedicated to helping/saving animals and “donate” my time to Forgotten Friends of Long Island.
If the market and I were in such flow that my hard work was rewarded with a statistically improbable return it makes sense for me to pay homage and give thanks for this. I felt a great sense of accomplishment after my first donation because I had traded hard, stuck to my plan, had an above average pay day, and help one of my favorite charities. I can’t think of a better way to feel happy about the work I do.
Have you ever witnessed or read about a family who repeats mistakes generation after generation? The unfortunate daughter whose father is an unemployed alcoholic who consequently finds herself in the same position later in life. The “great” buy & never EVER sell strategy that your grandfather used, then your father, now you? This is what I have defined as Micro-Evolution.
define: Micro-Evolution – Short term survival strategies that are learned unconsciously from childhood.
In typical evolution a mutation in the organism (psychological or physical) creates an attribute that will allow the organism to proliferate or suffer because of that mutation. If this mutated characteristic is more advantageous than his predecessor’s attributes, this new breed will pro-create in larger numbers rendering it the dominate one. This is different from micro-evolution in that it is not a mutation, but an unconsciously learned survival method. Regardless of how successful one can be with a different strategy, your predecessor used it and it worked. Your unconscious learned that it worked and instilled mechanisms to assure it would be used.
How do change your Micro-Evolutionary destiny in Trading?
By learning new habits through practice.
ThinkorSwim just integrated a new “on demand” feature. This feature replays the market live from a certain date forward. This would allow you to try new and different strategies. You can watch a video on it here.
Furthermore, (since my idea is now in a major platform, which I had nothing to do with) you can write a simple AutoIt Script to click the chart along allowing you to practice 24/7. I discuss this in my youtube video here: Expertise in Day Trading.