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Wednesday, July 12, 2017 11:40:35 AM
Mid year Performance review.
I ended June up 52%. On target for breaking even on the year. Did some things right and made a hella lotta mistakes.
Employer: Otc we are here to discuss your first half performance and determine whether or not you are an asset to this co and we should continue to pay you.
Me: Thank you for giving me an opportunity and I hope you decide to keep me.
Employer: Do you feel you are making the most of the opportunity we have provided to you?
Me: I have worked hard and I have done some things right but the answer to your question is "NO".
Employer: Is it lack of opportunity, lack of tools, or are you just stupid?
Me: I believe it is is the latter sir.
Employer: What are your goals?
Me: As you know I have a formula that I use to survive.
A = The money I have
B = Percentage gains for the year
C = Total trading assets at the end of the year
D = Expenses needed to survive.
E = Starting capital the following year
A x B = C - D = E
My goal is to increase E.
Employer: How can you do that?
Me: By increasing A or B or decreasing D.
Employer: Have you succeeded?
Me: I am 2 percentage points ahead of the curve. If I match that performance in the 2nd half of the year then I will start the following year with a larger A but ultimately what I feel I really need to do is Increase B exponentially.
Employer: So you are happy with your performance? You are ahead of schedule. Is it really a worthwhile goal to increase B to above 100%? Is it even possible.
Me: No. I would like to create some breathing room and do a little better than just getting by. It is a worthwhile goal and I could easily do better than 100% for the year.
Employer: Could you elaborate on what you could do to increase B above 100%.
Me: stop making so many mistakes. I have identified many opportunities but have sold at the wrong times.
Employer: Could you be more specific?
Me: I have traded a lot of stocks this year but I have had a few plays that have made up most of my trading activity due to being over - weighted. Ultimately I was right about each but my timing on sales was all wrong.
Specifically PERI - I knew it was severely undervalued but it kept dropping. When it finally started to move up I was worried about pull backs so I started selling too early. There were no significant pull backs and ultimately I made much less than I could have even with them missing guidance by a large chunk.
CAPC - I knew it was undervalued. Accumulated a ton, doubted myself and sold for a small gain just to watch it run from .40 to .70 after selling and now the next 2 q's will be the best in the company's history. I really messed up on that one.
IVFH - Accumulated a ton in the .40's Ran to .72 but I thought it would go higher. Ended up holding too long and could have made a ton more on it than I did.
PGAS - Should have accumulated more and sold way too early.
I could easily be up 200% or more by this point. There were many other opportunities I missed as well.
Employer - Do you feel you are improving or are you spinning your wheels?
Me - I make less major mistakes like NGHT, SVTE, BPOL debacles of the past. I hardly ever lose money on a major trade that I put larger sums of money into but I fail to maximize my returns by selling too early or too late or not accumulating enough. So I guess the answer is yes and no.
Employer - What can you do to improve? What can we do to help you?
Me: Quit screwing up! Nothing. It is all up to me to get better.
Employer - Do you deserve a raise?
Me- I earned the 2% I exceeded my necessity and I deserve nothing more.
Employer - Do you deserve to continue employment here at the firm or would we be better off replacing you?
Me- I have done enough to continue for another 6 months but I definitely need to improve or else eventually I will lose my dream of trading for a living.
Employer - What do you need to do?
Me - Again, I need to increase A or B or decrease D.
Employer - what can be done to decrease D?
Me: not much. It really comes down to A or B.
Employer - No excuses! Do it!
Me: Yes sir.
Employer - we will meet again in 6 months. I expect to see improvement.
Me: Yes Sir!
I ended June up 52%. On target for breaking even on the year. Did some things right and made a hella lotta mistakes.
Employer: Otc we are here to discuss your first half performance and determine whether or not you are an asset to this co and we should continue to pay you.
Me: Thank you for giving me an opportunity and I hope you decide to keep me.
Employer: Do you feel you are making the most of the opportunity we have provided to you?
Me: I have worked hard and I have done some things right but the answer to your question is "NO".
Employer: Is it lack of opportunity, lack of tools, or are you just stupid?
Me: I believe it is is the latter sir.
Employer: What are your goals?
Me: As you know I have a formula that I use to survive.
A = The money I have
B = Percentage gains for the year
C = Total trading assets at the end of the year
D = Expenses needed to survive.
E = Starting capital the following year
A x B = C - D = E
My goal is to increase E.
Employer: How can you do that?
Me: By increasing A or B or decreasing D.
Employer: Have you succeeded?
Me: I am 2 percentage points ahead of the curve. If I match that performance in the 2nd half of the year then I will start the following year with a larger A but ultimately what I feel I really need to do is Increase B exponentially.
Employer: So you are happy with your performance? You are ahead of schedule. Is it really a worthwhile goal to increase B to above 100%? Is it even possible.
Me: No. I would like to create some breathing room and do a little better than just getting by. It is a worthwhile goal and I could easily do better than 100% for the year.
Employer: Could you elaborate on what you could do to increase B above 100%.
Me: stop making so many mistakes. I have identified many opportunities but have sold at the wrong times.
Employer: Could you be more specific?
Me: I have traded a lot of stocks this year but I have had a few plays that have made up most of my trading activity due to being over - weighted. Ultimately I was right about each but my timing on sales was all wrong.
Specifically PERI - I knew it was severely undervalued but it kept dropping. When it finally started to move up I was worried about pull backs so I started selling too early. There were no significant pull backs and ultimately I made much less than I could have even with them missing guidance by a large chunk.
CAPC - I knew it was undervalued. Accumulated a ton, doubted myself and sold for a small gain just to watch it run from .40 to .70 after selling and now the next 2 q's will be the best in the company's history. I really messed up on that one.
IVFH - Accumulated a ton in the .40's Ran to .72 but I thought it would go higher. Ended up holding too long and could have made a ton more on it than I did.
PGAS - Should have accumulated more and sold way too early.
I could easily be up 200% or more by this point. There were many other opportunities I missed as well.
Employer - Do you feel you are improving or are you spinning your wheels?
Me - I make less major mistakes like NGHT, SVTE, BPOL debacles of the past. I hardly ever lose money on a major trade that I put larger sums of money into but I fail to maximize my returns by selling too early or too late or not accumulating enough. So I guess the answer is yes and no.
Employer - What can you do to improve? What can we do to help you?
Me: Quit screwing up! Nothing. It is all up to me to get better.
Employer - Do you deserve a raise?
Me- I earned the 2% I exceeded my necessity and I deserve nothing more.
Employer - Do you deserve to continue employment here at the firm or would we be better off replacing you?
Me- I have done enough to continue for another 6 months but I definitely need to improve or else eventually I will lose my dream of trading for a living.
Employer - What do you need to do?
Me - Again, I need to increase A or B or decrease D.
Employer - what can be done to decrease D?
Me: not much. It really comes down to A or B.
Employer - No excuses! Do it!
Me: Yes sir.
Employer - we will meet again in 6 months. I expect to see improvement.
Me: Yes Sir!
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