Friday, October 26, 2007

Getting Rid of Covestor

You might have noticed that I deleted my Covestor Badge on the left which displayed my performance. I was up about 25% a couple months ago and now I'm down about 20%. The dip in performance was mainly me trying to figure out my methods. Unfortunately I had to use my capital to figure it out because I feel it's the best way. No one knows how they will react to something until the shit hits the fan. I've learned tremendously what works for me and what doesn't based on that.


Also, I can tell it's been screwing with my Ego. There's been a few times where I won't get out of a losing trade because I don't want it to hurt my performance trend line and I'll wait and wait and all I'm thinking about is Covestor and how I compare with other traders. I was thinking about this late last night before I went to bed. I noticed that Covestor added a new Ranking section so you can see how you fare against other traders. I saw all the people making 800% and it bummed me out. So, I won't be having that badge up here anymore. It's not about winning and losing money it's about making good or bad trades and I feel I've been making a lot of good trades even though they turned out to be losers because I traded my plan.


I need to focus on what I do, not what everyone else does and then compare myself to them. That's what I've been doing and it's messing up my ability to think objectively.

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