When life becomes hectic don't take it out on trading.
The past couple weeks have been action packed. I was advised by Wells Fargo as an American in Canada I would have to transfer out my account due to tax laws. The SEC had changed regulations and there are a handful of brokers that will accept expat Americans in Canada to hold trading accounts.
It is mostly Canada’s strick regulations that are imposed on the brokers and many US don’t want to comply. So I have been dealing with the headaches of transferring an account internationally. Oh the headaches.
Not only does it mean a new broker which is TD Ameritrade with Think or Swim platform. I’m excited at the new opportunities that the platform offers me, but need to take the proper Time to learn the software.
There is a chance with their amazing charting capacity that I will be stepping away from Equityfeed. At the present moment I’m leaning that way, but I need to learn more to make that decision.
Friday I spent all day playing with the software. There are so many options it will take me a while to train my eyes where to look. As I always recommend learning the software is part of the journey to success and if you switch by choice or necessity you must give yourself time to be proficient with the new technology. No reason for me to jump into trades without knowing how to set up the trades properly.
Not only the transition of the account, but our in-laws have been renovating their house and our house as been a bit busier with extra bodies and teaching out daughter to sleep properly.
Our 5 month old decided she would scream bloody murder everyone her pacifier feel out and would only stop with reinsertion. So sleep training for nap schedule at 9am, 12pm and 3pm began as well as controlled crying.
To me the controlled crying is the most difficult time of raising a baby. I hate hearing the crying, however she needs to learn how to put herself to sleep. It is not feasible for me to get up every two minutes and no sleep for her or for me. It is getting better with more sleep for both of us, which results in a clearer head for trading.
All that said I am so ready to come back to trading more than every 3 days in my 401k. I say every 3 days because it is a cash account.
I’m a firm believer of everything happening for a reason and this change of brokers is actually a blessing in disguise. It will give me better tools. I will be able to do bracket trades if I need to leave my desk. Before I was not able to enter a stop and a limit target. I’m looking forward to being able to short more as with Wells it was very difficult to find share to short of large cap stocks.
When you have a change don’t force the learning curve. Let it happen naturally because if you rush it then the market will likely win. So until I’m used to my new trading tools with Think or Swim I will probably still be just using my 401k for trading. And on those night when the little one keeps me up it is paper trading if my mind isn’t clear.
The name of the longevity in trading is risk management so trade when it is right for you. It comes down to you and the market and you need to be on your A game all the time.
Make a plan with proper research and trade the plan.
My book is available at Amazon FMJ Trust Transition Trade: How Successful Traders Said It, Did It, and Lived It
If you want a signed copy please go to the book site and I will happy inscribe it for you and send it off to you.
I love hearing feedback from you. It makes my trading more personal and I like to hear how I can help you. If you have questions or comments you can contact me here or on Profitly, Twitter (@jane_yul), Instagram (missairplanejane), LinkedIn and Facebook (@sugarairplanejane). carpeprofit@gmail.com or YouTube
And if you reach out to me and I dont respond immediately please don’t take it personally as I might get to it at a 2 or 3 am feeding while reading on my phone.
The tool I use for scanning and alerting is Trade Ideas who offer an always free trading room. They are having a full access to the pro package for $8.88 for 1 week starting this Monday July 17th. Promo Code CARPETPROFIT15
Also testing out Stocks To Trade that has a 1 week $1 trial
For my charting and level 2 I use Equityfeed.
This blog is for information purposes. I am not a registered securities broker-dealer or an investment adviser. The information here is not intended as securities brokerage, investment or as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund.
