Saturday, November 21, 2009
Trading from home
My GPMG in the office versus my AR15 at home.
"When everything seems to be going against you, remember that the airplane takes off against the wind, not with it." - Henry Ford
Spent the last 5 days trading from home with just 3 screens and wireless Internet to test out whether I can be profitable trading from home losing out my most important edge, "SPEED".
No doubt, I can feel the difference in execution speed, especially on a wireless notebook, the ping is slow, a great disadvantage if I scalp in a fast moving market. With the TT trading platform, I would consider it relatively fast, probably I only traded the local SGX contracts.
It's more relaxed trading from home, saves on travelling cost and time without having to pay additional booth fees in the arcade. Cost saving is around $900/- a month. But, I will miss all my buddies in the arcade, the camaraderie and jokes.
Bottom line, can I make money?
I have failed to make money 4 years ago trading from home after the closure of the pit, though I didn't lose money, monthly expenses were draining my savings very rapidly like an open tap. I couldn't find my head (Hokkien phrase), went around in a circle getting more desperate by the day.
I went into some business venture and traded on a part time basis, thus no focus and concentration. I flopped in both losing more precious capital.
Being a scalper and spreader all my trading life, I am a very short term trader, hardly able to convert to a part time day trader in between meetings and overseas business travel. I didn't even know what's my edge in trading, didn't realise having an edge is so important.
After decisively cutting losses on my business venture, I went back to trading full time as a trader in the arcade. With the help of some of my close friends who enlightened me on the "tricks" of trading. I then look at trading in a different perspective.
Finally, I made a few thousand bucks for the week trading cautiously and conservatively despite losing my edge in speed. I have matured as a trader.
No trading for the special account.