(binned per thread starter’s request) The 80-20

I've been introduced to a group of traders who reckon I might be good enough to join. Might being the operative word. The performance entry requirements are simply eye-watering, but it allows me access to ridiculous amounts of capital so it's worth the pressure. It'll take 4 months ish to complete the three challenges, failure in any one means I'm out. So I thought I'd add journal here for a bit of reflection.

So the first challenge called Reckless and is supposed to be the 'fun' one - which I have to kick off some day next week to start the clock. Restore a dormant b book account to 2.5 times it's original level in 6 trading weeks (30 trading days), using and only using whatever's left. Excludes my holidays, they're kind like that. This is like trading with one hand behind your back because the execution will be terrible. And not only that, it's in addition to my normal trading so it's a right pain in the ass. And it's a fair old return they're asking... it's so big I'm not going to detail it here until the end of the 4 months (assuming I get that far) so as not to attract the divs.

Anyway, will tinker around next week to get myself up to speed and hit it here at some point.

I've made some back of the fag packet calculations, and I'm going to need some serious risk, around 6 trades a day, some balls of steel, plenty of volatility and no retail price tinkering. Overall outlook - hairy.

till next week...

Relevant. First 15 pages will do it

https://www.elitetrader.com/et/threads/why-is-the-obvious-not-so-obvious.151802/

How can a black or white, yes or no, "Newtonian" thinking mind perceive the grey, constant buy and sell, probabilistic state of price?

Its really obvious, but it isn't.

With timing.
From the East: https://en.wikipedia.org/wiki/Honma_Munehisa
From the West: http://classics.mit.edu/Plato/timaeus.html

Years back I went caving. It's a claustrophobe's nightmare, full of tight corners, one-way passages, tight squeezes and pitch black save for your headtorch. The guide- one of a handful of an international cave rescue response team - took us through one cave and just before we left via a tight passageway to the next, said to us. "How you going to find your way back?".
I was hoping to follow you, I said.
"and if something happens to me, then what?".

That's exactly the kind of nightmare I was hoping to avoid.

He told me, "look backwards before you go forwards. How else are you going to recognise where to go on your return?"

We looked back at the cave entrance, studying the shapes, the shadows, memorising the pattern, creating an image we would recognise some hours later.

This could be about your life given it's NYE ... or something else. Whatever you extract from it, go well.

That is so wise - thanks for sharing.