Progress Report #5 (28th Feb-6th Mar)

Hitting a block in productivity recently. Some of it could be due to the funeral but I suspect the majority of it is due to sleep pattern. When waking and sleeping at the same time each day and night, there are tired days and not so tired days but what can be relied on is the day is a fixed amount of waking hours. That is what I'm missing at the moment - my sleep pattern is so varied in terms of when I wake up that it throws me off the rest of the day.

Solution? Easy - thankfully I've woken up anywhere between 4-6AM consistently pre-pandemic. I can do that again, I just need to train myself.

This week my alarm is on for 6AM. As soon as I hear that alarm, I need to get out of bed automatically. It's the easiest way, despite what many snooze fanatics might say.

Moving on, I'll post a reminder of my goals below and perhaps a comment but given how little I've actually got done, there won't be much.

Customer Perspective Q1 Goal

Select TWO exchanges that represent best value for fees and security of funds.

Next (i.e. this) week: have a demo account setup so that not all trades have to carry monetary consequences.

Internal Business Perspective Q1 Goal

Purchase and install custom build PC suitable for trading and other intensive activities.

In previous posts, I've explained my decision to go with a pre-built PC. This works for me and will work well for what is required (performance/longevity).

Unless I get an unexpected lump of cash, I'm not expecting this to be purchased by 30th April unfortunately. Being in a committed relationship costs money ;-).

Innovation and Learning Perspective Q1 Goal

Complete study of Technical Analysis Explained by Martin J Pring.

Last weeks goal: cover a chapter across two days. Apply what has been studied to charts and do a write up on this blog. By the end of the week, there should be 3 posts.

As you've probably guessed from the fact there is only one application post, this didn't go to plan. However, application in this way is definitely more useful in developing knowledge as it makes me think (who would have thought!).

I'll continue this application, along with completing questions on each chapter from the study guide.

Next (i.e. this) week: complete chapter 1 and 2 with write up for each major topic in the chapters.

Financial Perspective Q1 Goal

Survive - by the end of this period of trading, initial investment should still exist in it's majority and no further capital should have been added.

Last weeks goal: apply learning to charts, put a trade in on anything promising. Likely will be hard given we are currently moving sideways but if I can make money going sideways, that will be quite an achievement.

It's safe to say avoiding the chop is probably the best option for now. I'm down on my initial capital by 5% so I will take a pause for now and focus on learning. Any trades I do will be via a demo account with clear parameters. No goal for next (this) week, just focus on learning.

See you next week!