Plan

Last chance to make trading a success. Need a defined plan as don't have much to draw on. I will be driving an Uber to meet weekly expenses; so that will take some pressure off trading.

Need to acknowledge that it will take 1 year or more to get back to where I was financially; but hopefully will come out of it a better, stronger trader.

Daily Routine: Last time I had a daily review I found some benefit to it. Even if it was a placebo effect. Worth implementing this again.
1:30am-1:45am: Up, shower and shave. The shave is the important bit - because I don't have to do it but it is part of the mental preparation for morning.
1:45am-2:40am: Do review of prior day. Have some coffee and prepare for the coming day.
2:40am-3:00am: Meditate for 20 minutes. Fiddle around with this, maybe it just involves lying on the couch with no distractions and resting brain.
3:00am-3:30am: More preparation and breakfast.
3:30am-4:30am: Trade the open.
4:30am-4:40am: Take psych score and if continuing to trade have another 10 minutes meditation. Again this could be 10 minutes resting on couch.
At the end of trading day do one playbook entry for a trade that is worth going through.

Actual Trading:
(1) Stop-losses are to be placed before entry. The exception to this stocks that aren't shortable (and I want to go long) where stop will be placed straight after entry. Note that I used to have issues with this because of buying power, but I won't any more because won't be trading enough size to have BP issues.
(2) Will be aiming for a profit goal for first few months. First month will be $100 goal, and max drawdown of $200. Ideally second month will be $200 goal with max drawdown of $400 (but will see how first month goes, maybe even keep it at $100, or perhaps reduce ratio of max drawdown to profit goal).
(3) Max loss of $200 will be entered into system. Obviously adjusted when this changes.
(4) Will try and avoid starter positions because it's difficult to place a stop-loss on them. I want clearly definable trades.
(5) Max size will be:
$2-$10 -- 400 shares.
$10-$20 -- 200 shares.
All else 100 shares.


Will set up two separate stickk goals for each of the above. If it could keep me running for 5 months, then it can keep me disciplined in trading. The stick goal will fail if a single rule or routine is broken.

Also for each minor rule broken I will need to earn $20 on Uber; on top of the amount I need for living expenses. If I break the max size rule, or don't take a stop-loss I will need to earn $150 Ubering. After-all working a job is the consequences of breaking any rules.