P&L Envy

Good morning folks,
One of the things that make this business so challenging is keeping your emotions in check. On my journey I have tried to help others identify the challenges that lie ahead for those considering embarking on their own journey in this competitive and challenging industry. 

I learned early on was I needed to focus on my performance, find my strengths, find my niche, and find my weaknesses. 

In the beginning I would see the P&L of other traders and while I am aware that it was supposed to inspire me and show me that it could be done. It also made me envious and led me to trying to emulate their style. I was emotionally charged with the thought of beating or matching their performance. Yes I will admit it! 

I had P&L envy!

I am competitive by nature and I would let the success of others get into my head. Especially if I tried to follow them into a trade and they made money and somehow I found a way to lose money. I was trying so hard to be someone else I lost focus of defining who I am as a trader. I was not discovering where my strengths were and what style of trade works best for me. Trying to match or beat someones P&L would only lead to me taking foolish trades without well defined setups, or I would take on more size than I was really comfortable with. I would chase into stocks giving me anxiety as soon as I entered the trade. 

This business is competitive enough! Don't get sucked up into the dream of a certain lifestyle or focus your energy on someones P&L. Focus on yours! It's good to know that the lifestyle can be achieved but take it with a grain of salt. 

I am not saying you should not have goals. I believe everyone should have a vision board of things they want to achieve in life. 

Another persons performance has no impact on your P&L. They have completely different circumstances, account size, tolerance for risk, trading styles and execution planning.  
It takes a tremendous amount of hard work, discipline, and consistency to be successful in this business. If you become a disciplined consistent trader your account will grow, success will be achieved and you can enjoy the lifestyle you desire. Keep your head clear, identify and reduce the amount of emotional triggers that may be impacting your performance and you will be on a more stable road to success! 

China rate cut and blowout earnings from some big tech players are setting the tone for this morning. Gap up days are my least favorite day to try and trade.
Cyber security stocks could be under pressure off of FTNT disappointing guidance. 
Gold and miners could be a hot sector along with big cap tech
FB BABA MSFT GOOG AMZN AAPL  

Also watching SUNE and ERII from yesterdays morning watch 

Stocks on my radar premarket

Bullish and may have a swing or lottos in play

Cautiously optimistic

Very Cautious may even present a short opportunity .

BXLT MACK

PharmaEngine Announces FDA Approves Merrimack's ONIVYDE

Balance sheet issues Black label concerns full disclosure I took a Small position into the panic sell yesterday in the 8.35 range Listened to their conference call last night and am impressed for how quickly they are able to go to market. I lost a friend to pancreatic cancer years ago and I can tell you he was taken way too fast he was diagnosed and weeks later he was gone. Its a terrible disease and I think he would have risked the side effects to have a little more time 

I think the debt issues will work themselves out and its not like the balance sheet is a surprise but approval is  
Relypsa Inc (NASDAQ: RLYP) shares climbed 9.69 percent to $12.90 in pre-market trading after dipping 27.18 percent on Thursday.
Full disclosure I took a small swing @ 12.68 in this one also> currently under water FDA approvals seem to be a negative catalyst lately. Another Black label concern. FDA apparently misstated some info that is supposed to be corrected. Holding it for a snap back play plenty of cash on the balance sheet   

GIMO	Gigamon Reports Q3 EPS $0.22 vs. Est. $0.17, Rev. $56.7M vs. Est. $54.68M

Earnings winner and gapper > don't chase it but could set up intraday thin floater clean balance sheet raised guidance