11 Minute Read

Friday Feature: Find What You Love

February 21, 2020

By | 4 Comments

Friday Feature: Find What You Love (Photo by Lucrezia Carnelos on Unsplash)

Learning to trade is quite a journey. Taking educational courses, backtesting, virtual trading, and journaling all while trying to juggle a nine-to-five, family time, and personal time can feel a bit taxing at times, but we love it, right? I mean, I would hope so. There is a lot of sacrifice that goes into this adventure and I’m not sure how anyone could persevere through the trials and tribulations of the trading learning curve unless they absolutely loved the idea of trading. There has been plenty of times that I’ve asked myself why I continue to trade when I felt like such a failure. Deep down I knew I couldn’t give up. I knew that something was wrong with my trading system if I felt this way. I knew something needed to change if I wanted to continue to trade for the rest of my career. I had to come up with a trading plan that I absolutely loved. So that’s what I did.

First thing I did was quit griping about how the market hates me and wants to see me fail. Then I put my butt in the seat and got to work. I reviewed my journal to find my strengths and weaknesses and found problem number one there. My strengths were theta based trades, which ironically enough is not what I would consider my favorite trading style. Theta bored me to tears but was holding my account together so I had to be somewhat appreciative. My weakness was delta trades which is where I felt my heart truly belonged to. I like the action and excitement that delta trading provides. It’s what most people think about when they think of trading: playing direction, hitting home runs, bringing in the dough! I loved that idea, but I didn’t love my approach to it.

Friday Feature: Find What You Love (Photo by Leonardo Sanches on Unsplash)

So I backtested different delta systems. I tested multiple rules on option deltas, days till expiration, conservative versus aggressive entries, aggressive stops versus conservative stops versus no stops, management rules, profit-taking rules, and exiting rules until I found a set of rules that I believed in so much that win, lose, or draw, I was going to love the system I created. Now instead of dreading the opening bell, I’m excited every day because I know I love what I do from theta to delta.

I think a problem with a lot of unsuccessful traders is that they don’t have a system they love. They may have taken a course or watched a video about a trading concept and they tinker around trying to make a little money doing what someone else has told them to do but they find themselves frustrated because they don’t truly love how they are trading so they break rules and end up losing or breaking even. For so long, I just couldn’t understand why coaches would be doing a show about a trading concept and would suggest different rules you could do instead of just saying, “Do this!” But I understand why now. How is someone supposed to find what they love if they just follow what someone else does?

You need to love your system to the point that you trust it unconditionally. Challenge yourself. Go through each of your rules and make sure they fit you. Find a system that even if you lose, you’re ok because you have stress-tested it and have proven it profitable in the long run.

Keep at it team and love what you do.

Friday Feature: Find What You Love (Photo by Wyron A on Unsplash)

Justin Driskell

Justin Driskell | Tackle Trading

Justin started his trading journey during a 3-day workshop with Tim Justice in April of 2018. He has always been interested in the financial markets and the opportunity it potentially provides. He likes trading stocks and options. Outside the markets, he’s a husband, father of two boys, and full-time automotive technician.

Tackle Trading: Financial Freedom is a Journey. Sign up now for a 15-day free trial.

Financial freedom is a journey

The Tackle Today series is brought to you by Tackle Trading.

Sign up now and gain unfettered access to all of the quality content and powerful Scouting Reports that our Pro Members enjoy for 15-days absolutely free with no strings attached and let us show you what your trading has been missing.

# Sign up now for a 15-DAY FREE TRIAL #

Legal Disclaimer

Tackle Trading LLC (“Tackle Trading”) is providing this website and any related materials, including newsletters, blog posts, videos, social media postings and any other communications (collectively, the “Materials”) on an “as-is” basis. This means that although Tackle Trading strives to make the information accurate, thorough and current, neither Tackle Trading nor the author(s) of the Materials or the moderators guarantee or warrant the Materials or accept liability for any damage, loss or expense arising from the use of the Materials, whether based in tort, contract, or otherwise. Tackle Trading is providing the Materials for educational purposes only. We are not providing legal, accounting, or financial advisory services, and this is not a solicitation or recommendation to buy or sell any stocks, options, or other financial instruments or investments. Examples that address specific assets, stocks, options or other financial instrument transactions are for illustrative purposes only and are not intended to represent specific trades or transactions that we have conducted. In fact, for the purpose of illustration, we may use examples that are different from or contrary to transactions we have conducted or positions we hold. Furthermore, this website and any information or training herein are not intended as a solicitation for any future relationship, business or otherwise, between the users and the moderators. No express or implied warranties are being made with respect to these services and products. By using the Materials, each user agrees to indemnify and hold Tackle Trading harmless from all losses, expenses and costs, including reasonable attorneys’ fees, arising out of or resulting from user’s use of the Materials. In no event shall Tackle Trading or the author(s) or moderators be liable for any direct, special, consequential or incidental damages arising out of or related to the Materials. If this limitation on damages is not enforceable in some states, the total amount of Tackle Trading’s liability to the user or others shall not exceed the amount paid by the user for such Materials.

All investing and trading in the securities market involves a high degree of risk. Any decisions to place trades in the financial markets, including trading in stocks, options or other financial instruments, is a personal decision that should only be made after conducting thorough independent research, including a personal risk and financial assessment, and prior consultation with the user’s investment, legal, tax and accounting advisers, to determine whether such trading or investment is appropriate for that user.

4 Replies to “Friday Feature: Find What You Love”

  1. Tyler Craig Tyler Craig says:

    Love, love, love this. Well said. You understand this completely!

  2. LarryVelasco LarryVelasco says:

    Great article

  3. MichaelNott MichaelNott says:

    This is awesome. Exactly what I need to keep doing. Great to hear from someone else out there!

  4. Avatar MichelleTurner says:

    Great writing, Justin. I really needed reading it. Thank you for sharing!

Leave a Reply

Chart Modal

Tackle Trading