I've been seriously considering taking the summer off from trading. Skipping over the details, I just have WAY too much going on. I'm curious as to how many traders have ever taken the summer off, and what your experience was when you came back. I'm not talking about years, only a couple of months. Did you feel refreshed? Lost? Out of sync? Was it like riding a bike? Riding a rocket? Thanks for sharing.
Go for it, won't regret it, i promise. First plan what you like to see and do, then you won't end up with crappy places
I know many ex-pit traders who used to lease out their seats during the summer....they only traded sept-may......
The last few years I have been taking the month of August off (if I do trade, it's just to put on or take off some swing positions...or just to trade the opening half hour). I also take a handful of weeks in June and July. The majority of trader's money is earned from Sept-May, so why fight the slow months? Take time and relax...the market will be here when you get back.
I'm not sure it'll be that kind of vacation. Maybe a week in Mexico, and a week somewhere overseas. I'd like to go to Australia, like on safari. That'd be fun. I just have so much stuff I'm dealing with right now, that I can't keep spending 18 hours a day completely focused on a dozen different aspects of money. I know it sounds like a good problem to have, but it's not. I'm selling my house. I'm buying a new one that isn't finished yet (its a bigger pain in the ass than you'd think). I've been in discussions about taking a consulting job (short term thing) in the fall, I've been trying to research a type of second career (if you can call it that) unrelated to consulting or trading. More like an investment opportunity away from the markets... An immediate relative in my family is pregnant, another older family member has been sick. A person I've been seeing is starting to get serious about commitment, maybe too serious... And that's just the surface. I haven't been fishing for a long time. Hell, for the first time in my life I just payed someone to mow my lawn. Maybe right now IS a good time to take a break and then come back and deal with everything that is going on. I don't know, I guess that's why I started this poll, to see what all of you ETers think. I just think a short-term break could keep me from having a long-term break down... mental breakdown, the trading has been fine, just everything else is all happening at once. As far as the choppy summer months, I'm not too worried about that. I've always traded them before, but never with this much stuff going on all at once. Great, now I'm the one sounding whiny! Damn, now I'm a hypocrite! Aaaaahhhhhhh!!!
I guess that's another good question to ask... How many of you have been totally burned out before taking break? Any luck?
I do "parking" when I take off on a planned basis. Usually I work for a government or the UN on a specific problem solving project with a team that I lead. I pick a trading cycle period that is longer than my absence, then as the count down occurs, my hot list is culled for money velocity and assuring candidates are past FBO. A likely candidate has a very wide channel and is knocking down 100% every 2 to 4 months. No climax runs in the subset, however.
Thank you Grob. I closed all of my mid & long-term investments in early May. I'm still short a few ETFs mid-term... I'll still have some market exposure, but if I do take a leave of absence it'll be limited. I just think I'd get drawn back into trading full-throttle at the first sign of any really good movement... After seeing my poll results, I've decided I still need more votes before I make a decision. Poll & Post people. This is a major decision for me. I really think I need all of ET to decide on a decision for me. I can't do it myself, and I know none of you would ever steer me the wrong direction. Is that enough satire Johnny Walker? Still not enough!?! Does no one on ET have kids? Either that or you all just have great family values and loving relationships with your children... definitely not the former...
I unplug 3 - 4 times a year. While I haven't ever spent an entire summer away from trading, I never bothered to even read the financial section of the paper while 'offline' and on holiday. I move everything into cash before we simply pack up the kids, and head somewhere fun. Sometimes, we spend a week - maybe two - just enjoying life, away from home and away from the computer screen. Have I missed significant market moves while offline? I couldn't tell you. I never bothered to check. Something tells me, 30 years from now, what happened on whatever trading day we spent on a beach someplace won't matter nearly as much as if I neglected to take the time to enjoy life with the family. Could I have made more money by trading while on vacation? Sure, but the market will always be there to provide you the money you need. Children, on the other hand, tend to grow up - and fast. You don't need an ET poll to provide you advice. You already know the right choice to make. Enjoy the summer, and we'll see you when you get back. - Spydertrader
Oh get off it, Jack. In this modern age, no one of any insignificance whatsoever can escape mention on the web. Go Google John T. Hershey and tell me what you have done lately. No disrespect, mind. I am a burnt out old supreme egotist myself. I DO understand. I look back on my own past glories with fond nostalgia. Or as Yogi wrote: "Ah, nostalgia! It isn't what it used to be!"