"Don't go chasing waterfalls..."
Or maybe do.
Events From Week 5
The Upwork catastrophe remains unsolved; however, there is some movement. A person with some authority is investigating the matter. Fingers crossed.
Series 65 Study:
Unit 1-5 review and tests, and unit 19 study. (+4 hours)
Newsletter subscribers:
65 (-1)
Prop Firm $50K day trading account:
Total Days Traded: 20
Balance: $55,712.45 (+11.42%)
Week 5 Metrics:
Another tough week, but positive (barely).
Finally, some losing days.
One big loss was all I did on Monday (losing day).
Tuesday was working back up.
Wednesday chop city, wins, but bigger losers. (losing day)
Thursday was so much chop early, I stopped and went to bed.
Friday was multiple trades riding the trend.
What I Built / Shipped / Posted
I made my first push to my GitHub profile. I forked and updated an older library that I’ll be using for my analysis. One grabs data from tradingview. Another package I pushed contains functions and methods for creating images from that data, including custom indicators and other features. I intend to create Jupyter (or Google Colab) notebooks that people can use or review to verify my work. I also took some time this weekend to start updating some of my custom trading indicators in TradingView’s ecosystem. Here’s a screenshot of the swing trading one.
What I Learned
“AI is changing the world.
This is not a new revelation for me. I have stayed reasonably close to the front of the wave in generative AI’s evolution. I am not on the bleeding edge, but I utilize AI to streamline many of my processes. I have been thinking about how to leverage this as a creator as well. Not to write my newsletters for me, but to replicate the steps I take in research and analysis. I want to make that process simple enough that anyone can plug and play to see the market the way I do.
Not everyone has time to scan charts for good setups. Not everyone knows how to gather and clean data. Not everyone knows how to backtest a trading idea. These are all things AI can do for you.
One ongoing debate in the tech industry is whether AI will replace most (all) jobs. This is probably true to a degree. In my view, until these models start thinking for themselves (instead of repackaging existing material in new ways), an intelligent person with a clear idea at the keyboard steering the AI will likely produce more valuable results and insights. Therefore, it’s not as if people will not be a part of the system. New types of models are unlocking creativity that was previously unattainable. You can bring almost any idea to life without knowing exactly how to build it. If you have some domain experience, your results will be even better.
The online trading spaces I frequent are seeing AI integrations appear in various forms, some more effective than others. I think just handing AI money to trade is an inefficient approach right now. Can it be successful? Sure, but people with no market experience can also be successful. Many in online financial analysis are taking their hands off the wheel too quickly, before even trying with steering assistance.
I want to build and showcase tools that provide that assistance. There is a healthy segment of market participants who wish to conduct research and learn, but realistically, they will never have the time to do so. In my experience, losses stem more from poor trading systems and execution errors than from flawed ideas. If you can feed ideas to an AI that can synthesize and process at a much higher speed, and let it handle that side of the execution work effortlessly, I think that could open the door to profitability for people who have not yet learned how to trade well.
What's Going On Next Week
More Series 65 studying, starting the SIE study.
A weekly trade idea post on Tradingview on Friday.
August Day Trading review.
🤪 Off-Topic Corner
There are a ton of French tourists in Bali. It’s kinda wild. I’ve never encountered so many in any single location we’ve visited so far. I’m not entirely sure why this is. Typically, it’s Germans.
My Current Location: Munduk, Bali, Indonesia
It’s really lovely here. Our life pace is so slow. Wake up, have breakfast, head to a cafe for coffee and work, or go for a hike. Lunch, relax, dinner, relax and then sleep or relax until trading time. Food is good. Coffee is good. Weather is good. Hikes are good. I can’t complain too much (aside from a little better internet). Here’s a shot of a pretty waterfall less than a 30-minute walk away.
Thanks for following my "finance in public" journey!
If you have any questions or comments, drop them below! I’d love to hear from you.