Happy New Year!  Good Riddance to 2020!

     I have never been so happy to leave a year behind.  So many screwed up things happened to me in 2020.  I have most of the events recorded in my previous blogposts, so no need to recap them here.  One good thing that happened in 2020 was that I started the Tim Sykes Millionaire Challenge program.  In the next 10 days I will have surpassed my 9 month anniversary in the program.  I ended 2020 green with about $1000 profit for the year.  It's not much, but it is a start.

     My goals for the next year are simple.  The first one is to trade.  I find myself hesitating a lot before pulling the trigger.  I have slowly been getting used to going in with a plan, and this makes the process a lot easier for me.  I don't even have 100 trades under my belt yet, so my goal is to build more trading experience.  I want to be able to form a plan, pull the trigger, and follow the plan.  These are the trades I want to practice more of this year.

     I want to gain consistency this year.  I think this should happen with time as I get better at executing my trade plans.  I think consistency is really just about following rules.  If your rules are followed, then consistency should follow too.  The question is, will I consistently profit or lose?  That is where the next goal comes in.

     I am still on the search for my focused strategy.  Right now I am trying to master afternoon consolidation plays, but I'd also like to catch some dip buys in the morning.  I am not looking to buy the dip buys after huge panics, because they move too fast for me right now.  I am thinking more about first or second green days with strong consolidation.  Maybe I can figure out how to catch a ride or two on a morning rocket.  I am mindful of chasing, of course.

     I plan on continuing my risk management strategy.  It has been working for me pretty well the last year, and I am happy with the way it has been protecting my capital in 2020.  I am uber conservative right now with my strategy, but I am not too eager to increase my positions until I can prove that I can make profits more consistently than I have been.  Right now it's all about me protecting my money, not making more.  When I am more comfortable with this skill, I want to have enough money left to make good profits.

     I am looking forward to finishing my first year with the Challenge this year, and I am excited to see what my second year in the Challenge will produce.  I hope I will surprise myself, but I am patient too.  I know the process will take some time.  So far I am enjoying the journey!