Heading into my 19th year trading the one thing that continues to echo in my head is process……continue to follow and trust your process. That has continued to work exceptionally well for the TradeontheFly Trade Ledgers, the more actively traded Main ledger is up 102% ytd, 264% over the last 3 years….the Long Term Ledger continues to build on steady gains each year, up 20% ytd and up 76% since its inception 10/2016. The 4th quarter had a great trend higher in the markets and we had several stand out trades during that quarter CLVS we went long at $4.50 and sold at $7.70 for a $12,800 gain, FULC was another nice long trade that we had two trades in…one from $5.40 to $7.48 for a $6,240 gain and then again from $8.65 to $13.74 for a $15,270 gain.
What I also continue to realize is that every year, throughout the year the market ebbs and flows, just like every sector gets a turn during the year, so do trading styles. Sometimes it’s your turn, sometimes it’s not. The hard part is what we do when it’s not. When the market is not working for our trading style or maybe we are in a rut and not trading well it is very easy to give back hard earned gains and then some…… some can make adjustments in their trading to adapt to the changes in the market……..for example swing traders we like trends, it makes our jobs much easier. But market spend time chopping around trendless as well, in that environment we have to shorten our timeframe and book profits more quickly or watch them disappear. We can trade less, sit on our hands more……..sometimes much easier said than done, a skill I continue to work at…..and one as I get older I find I enjoy much more.
In 2019 been great to see more members contributing to the chat room this year, we are getting a few nice intraday ideas in there most days and more members are sharing their swing ideas with the room. The best thing for me in running TradeontheFly is really seeing the lightbulbs start going off for members and helping them find their path and seeing them really have success with their own process.
Looking forward to 2020 I will continue to trust my process. I always have a list of things I would like to improve in my trading here are the highlights of things I will continue to work on:
-Patience, not only for the trade in giving it room and time to work…….but also patience in letting things set up.
-Flexibility….long/short it does not matter, take advantage of either direction and not forcing either direction.
-Being aware of the overall markets and what can affect them but continue to work on not letting personal bias affect what I think should happen, follow price.
My goals for 2020 for TradeontheFly are to continue to provide high quality trade ideas, to add to the great content in the Webinar Library and continue to work with members to achieve success and longevity on their trading journey.