190,000+ reads in 2023 for The Statistical Edge. Thank you so much guys. It truly is a crazy adventure and I’m glad to share it with you week after week. I’m not going anywhere and have big goals for 2024!
Yep… it’s time. One year after the 2023 edition, we’re back with our new goals for 2024. I did already reflect on 2023 in this prior article, so today will be focused on looking forward.
By the way, I appreciate the increase in likes and shares of the newsletter. Thank you guys.
I’m a hard believer that if you are in the same situation today than a year ago, you did something wrong.
This is one of the main reasons why I quit my job to become a full-time trader. Don’t get me wrong, the road is not easy. You saw me traveling across the United States and Europe this year, but there have been many late nights, Saturdays & Sundays backtesting, programming & journaling. Anxiety and stress have been present as well. More than during my former job? I don’t know. But it’s there. I’ve been working on a post about anxiety that I might get out in January next year. It wouldn’t be the happiest post, but I think it can help manage expectations for those who want to get into this full-time madness.
Trading is the ultimate challenge. You’re in the jungle, surviving & fighting for your life. You can make it harder or easier based on a few parameters.
I believe that in 2023, I worked well on these few parameters. In fact, I think that I’m in the best possible position to start 2024. Giving more than 100 hours of 1:1 coaching sessions from August to December helped me refine my process more than I thought. As of today, every single part of my process is crystal clear in my head. There are still some mistakes in the execution, but nothing that could jeopardize my equity curve.
What are these parameters?
Working on my exits. Am I taking most of the meat? I refined my statistics to find a good balance between success rate and EV.
Grading my setups based on market context.
And a few more that I’ll keep for myself.
With that in mind, my number 1 goal for 2024 is to trade 5+ lots by the end of the year as my normal size. I also want to cross the symbolic $1,000,000 profits bar.
I will do this gradually over the first 2 quarters and have already planned the road.
This year was focused on working on the foundations. Refining each part of the process. Becoming more efficient. Becoming fearless.
The more knowledge in your system you have, the less thinking in real-time.
Now is the time to scale up.
I traded mostly 1 lot to end the year and had great sensations. The sensation that I control my equity curve. This Christmas break feels amazing and not looking at the charts is what I needed after a year of full focus. I’m also quite excited to start the new year with a proper trading setup in my new home, after trading for years on my laptop. It won’t make me a better trader, but it’ll improve my back posture.
BUT I made money using a laptop only for the last 2 years so… no need to spend too much on a setup folks. Won’t magically turn you into a winning trader.
This leads me to the second goal for 2024: health! I’ve been pretty bad with sports in 2023. And 2022. And 2021…you get it. For the first time in my life, I’m sick of it. I will become stronger. Seeing my friends training regularly is a great source of motivation and I’m grateful that I have them.
Finally, the last goal is to do 4 seminars in 2024. I had so much fun doing the one in November that I want to make this a regular thing. It might be a problem given the small audience that I have, but I’ll do it anyway.
I will reduce the frequency of emails here. Ideally, I want one high-quality article a month and then some trade reviews, probably through a video format. Haven’t decided yet, but there will be fewer emails for sure. I’d appreciate your feedback on this folks.
Nothing too fancy, but enough to put me outside of my comfort zone.
Here’s a little bonus video where I share one of my statistical analysis on inside days.
Too many more great days of pain, happiness, and growth!
Thanks for reading :)
RC
PS: Hopefully should be done with the series of videos ‘How I Trade’ by the end of next week. More than 10 hours of video available very soon for you. Stay tuned & let me know if you’re interested.
I find your content both thoughtful and inspiring. Thank you for your insightful contributions. In 2024, my top priority is to develop tactics to curb impulsive decision-making and avoid making unnecessary trades when I'm feeling bored.
Happy Christmas!
Best of luck in 2024! Appreciate the work you put into your articles.