Monday, January 26, 2009

Most, if not all the commodity prices have seen record highs in the last 9 months.  (Gold, oil, nickel, coffee, steel, and the list goes on and on)

I belive the most precious commodity is one that rarely gets attention.  TIME
There are only 24 hours in a day to get everything done.  As traders', your learning curve never stops.  You always are striving to get better.  Some of us have families to take care of when we get home and we leave our work at work.  However, there are many slow times; days when the market just vacillates one way, and then goes back the other.  (Think Summer).  This does not allow the trader many opportunities to profit, but it does allow the trader to learn how to become better.

Today was one of those days.  The market seemed to drop dead at 1030am central time.  Instead of pressing (always leads to losing) I got up-to-speed on the blogs that I enjoy reading frequently.  I did some technical research and talked with some fellow colleagues.  I also went over my 2009 goals with one of the principals of the firm and received some invaluable feedback.  
Taking a step away from the physical execution of trading, is also beneficial  when you are having a bad trading day.  Doing the research and talking with colleagues builds my confidence and gets me in the right mindframe to trade again.

Making/managing the most of your time is a skill that comes with experience.  (think trading)
Sometimes it is not always about executing positions that makes you a better trader.