Next Phase In Life

Ever since I started trading as a teen and then on the floor of Toronto Stock Exchange, a parallel career as a consultant on trading related matters silently developed over the years. It all started out from helping the older traders to setup their computers so that they get to check out the charts at home. It then evolved to writing indicators for these guys and small firms. Thinking about it, I would never guess one day I get to work for institutions as a retainer consultant.

This side job of mine sees me through good and bad times. It is a nice cushion helped me grow my trading capital quickly. Interesting enough, although I keep my consulting hours to low 20s per week, it generates income like a very good full time job thanks to steady increase in my billing rate. This side job also enabled me to fund interesting projects like the daytradingbias.com website.

Frankly, I am not the type of person who loves to grind at the computer. Given the break I have over the past two months, I am considering lifestyle changes. Taking on fewer work hours is one goal. Doing things I am more interested in is another.

To reduce work hours, it has to come from somewhere. Reducing trading hours is one way to do it. Reducing my consultant work is another. Dropping my consulting work all together is difficult because it is like a security blanket for me. It will be an interesting challenge for me as a trader because the changes to my bottom line can affect me in ways never happen before.

I like the idea of helping traders to trade better. But not everyone is in a situation where they are suitable to be trained. It is a very personal matter and it takes the commitment of both the trainee and the trainer to work together to make things workout. As some members asked if I can be their trading coach couple years ago, I have to decline back then because I do not have the emotional capacity to focus on their needs. I was preoccupied by my family difficulties at the time and I knew it would be unfair to them.

But what about now?

I am much more open to the idea but I guess I will not take on too many students either. Grooming one good trader at a time is more satisfying than opening a boot camp and let the fittest survive. The way how my mentors helped me with my trading is probably what I would like to do. Maybe with the exception to the part that some of them have me under contract to pay half my trading income over several years. Just thinking about that brings back good memories.

No matter how the changes unfold though, this will be a very interesting year for me.

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