Wow … what a week! The last time we saw this kind of volatility in large caps was back in March 2020, during the initial pandemic panic selloff.
Unfortunately, I didn’t capitalize on my setups the way I had hoped for. I need to reset, relax, and reevaluate my mindset for the near future.
I always talk about trading, so I thought I’d switch it up today…
Instead of breaking down charts and setups, I’m gonna tell you about my plans for this weekend. (Warning: I’ll still be doing some studying!)
Plan #1: Hang Out with My Family
I’m a family man at heart.
When I’m not risking tens of thousands in the options market, I’m usually spending quality time with my wife and three children.
My kids are still young, so my house is pretty crazy most days. Having three small children can be loud and messy — but it’s also so much fun.
No trading gain or dollar amount can compare to the feeling of watching my children grow into incredible little human beings.
I need to remind myself of this after weeks like this (where my performance was less than amazing).
Sure, I’m a trader by trade (excuse the pun) — but I’m a dad and husband first and foremost.
The missed gains don’t matter. What truly matters is that after a long, hard week in the markets … I get to come home to the most beautiful family on the planet.
Plan #2: Identify My Recent Mistakes
If I had to pick one trait that separates the incredible traders I know (like Tim Sykes) from the 95% of trades that lose — it would be their ability to accurately identify the mistakes they make.
As traders, we need to be hard on ourselves in this way. Don’t beat yourself up, but be ruthless in pointing out what you’re doing wrong.
That’s step one.
Step two? Eliminate those errors from your trading.
This is easier said than done, but it’s crucial if you want to become a consistently winning trader.
In that spirit, I’m gonna take the weekend to go over all of my recent trades — and get to the bottom of my critical errors.
PREVIEW: Stay tuned next week for the results of my backtests.
Plan #3: Exercise
Trading is a mental game, but the body and mind are more connected than many people think. I find that physical exercise can help me mentally as well.
I used to be an avid gym-goer, but I’ve found myself slacking on working out recently.
(Again, it’s sometimes hard to find time to do everything I need to get done when three little Croocks are running around my house all day!)
This weekend, I’m making a vow to myself — to get back in the gym and re-dedicate my focus to exercising regularly.
Plus, you don’t have to pump iron at your local gym to give your body the physical exertion it needs. I like to make exercise fun by playing one of my favorite sports — tennis.
Tennis is a fantastic full-body workout. Cardio, strength, conditioning … you get it all with tennis.
(In fact, I’m gonna go hit some balls right after I finish writing this.)
Plan #4: Watch the Spurs Game
Speaking of my favorite sports, I love watching basketball…
I grew up in Texas — and I’m a die-hard San Antonio Spurs fan.
So much so that when I first hit the Millionaire Milestone, Sykes surprised me by showing up in Texas and taking me to a Spurs game … courtside!
Here’s a photo from that special day:
— Mark Croock (@thehonestcroock) March 30, 2017
And tonight, the Spurs play the Houston Rockets in a big inner-Texas rivalry.
I’ll be taking this much-needed opportunity to relax, enjoy the game, and completely turn my brain off for a few hours.
As you can see, I’ve got a pretty full schedule for this weekend…
But one thing I’m not doing is stressing out about money. And I largely owe that to Tim Sykes for teaching me how to trade.
If you haven’t heard by now, Tim is hosting a very special event on Feb 9 at 8 p.m. Eastern. You’ll want to be there.
Why? Because he’s revealing the mechanics behind his favorite setup.
That’s right: The setup which made him a millionaire several times over!
Have a great weekend, Evolvers!