We all fail sometimes.

And in this post, I’m going to share with you very openly what I consider to be my biggest trading failure of 2019.

But first, let me start with this:

As most already know, as a trader, I consider myself to be a BREAKOUT specialist.

In trading, many traders have some specialization (that often makes them way different from the general herd of traders). And for me, breakout trading is THE thing.

And in fact, I consider myself to be really good at that specialization too.

I know it sounds immodest. And I definitely don’t mean to brag about myself.

But the truth is, I’ve spent more time with breakout trading than anyone else I know. Over a decade. Going into the deepest, subtlest details imaginable. And in fact, I’ve never met a trader who could show me even half the understanding of breakout trading that I have.

Also, my specialization pays off greatly too. Right, now it looks like this year will be the 3rd profitable year in a row for my Hedge Fund. Not bad.

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So I think it’s pretty fair to label myself as a really good breakout specialist, and in my own internal universe, I even dare to openly consider myself to be one of the very top breakout specialists.

But the thing is… that MARKETS DON’T REALLY CARE.

And that’s something I forgot this year.

Even if you consider yourself the biggest specialist in the world, the markets will NEVER care. NEVER.

So, of course, even after more than a decade, the markets keep surprising me.

And this year, I forgot that every trader needs to keep evolving, along with the game and the markets.

Including me.

It seems that I got spoiled by our hedge fund growth and the amazing return last year and stopped working on my trading.

The truth is, since my Market Quality concept and indicators I designed last year, I have not come up with anything truly new this year. This is against my key philosophy, that we need to keep evolving together with the markets. And it’s also against my commitment to always keep pushing forward when it comes to trading.

So, that definitely was my biggest failure of 2019.

I know it has nothing to do with financial failure (quite frankly, I’m super happy we’re still riding the wave of green annual return numbers). But to me, it is still significant. Even if nothing bad happened, it still IS a failure to me.

Fortunately, I recently got my wake up call and got back to work again.

And I’m again enjoying the challenge of coming up with new, fresh, out-of-the-box ideas. I know there’s ALWAYS more to learn, and I simply enjoy learning that. And I totally love pushing the boundaries too – because this growth is often even more rewarding than the money itself.

So, in a sense, I’m very grateful for this failure. And as a result, a lot of new ELITE stuff is coming into my hedge fund in 2020 too. (And potentially, to our best students and most enthusiastic traders too).

Yet, I don’t want to fail in my trading growth anymore.

It’s simply not me.

There is always more to learn and grow. As a trader and as a human being.

Happy trading!

Tomas

 

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DISCLAIMER: Trading involves significant risk of loss and is not suitable for everyone. People can and do lose money. Hypothetical results have many inherent limitations. Past performance is not necessarily indicative of future results.

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