Today after the Close we talked about vacation. When to take it. What to get out of it. And why it is important. Let’s discuss.
You cannot trade everyday. You will burn out. Your trading will suffer. You will make less for the year if you do not take time to recharge as opposed to trading everyday. Danny Lee on our desk would trade everyday if we let him. There are days after the Close on Fridays I know he is pissed that the markets will be closed the next day. I just ordered him to take a vacation. I learned in law school that you reach a point of diminishing returns. At least this is what I allowed myself to think when I couldn’t understand some Federal Tax statutes. But as a trader you must recharge. And the weekends are not enough.
I take at least two vacations a year. I would like to take four but I never get around to it. This is the huge disadvantage of being a partner. The last week in August, the XMas holidays, and when it is really cold in February/March are times I try and get away. Usually I never make it happen for the XMas holiday. Ripper. But I should.
I like to find a nice beach for my vacation. Long runs on the beach clear my head. The sun beating down on me, sweat dripping, physically exhausted, with a perfect view of the water is just about as good as it gets for me. Maybe this is because I grew up on the water in Long Island and this reminds me of simpler days.
I am very creative when I am away. Some guys on our desk joke that I send them more work to do when I am on vacation then when in NYC. This is accurate. I think of different ways to trade and train. I think of new ways for our business to grow. And I clearly see what is important. Before returning I create a mission statement for my trading and my trading business, my prop desk. And as a result my trading and business improves.
We get so bogged down in details during the week. Today I made ten phone calls, had seven meetings, wrote 50 emails, traded the open and close and it is still not 6PM. And I still have to get my laundry, finish this blog, and finish a chapter for my book. How can you think creatively in such an environment? I spend too much of my time reacting and very little creating. But getting away helps me refocus on what is most important and develop a plan that I can execute.
Also I just get tired without a vacation. Lately I have not been sleeping well. Each day is a physical struggle to survive. I could use, we all could use, a few days in a row where we catch 9 solid hours of sleep. And my mind could use a break. All day long I challenge my brain to run as productively as it can. At the end of most days my brain hurts from all the thought. A week away to ask less of it is a good thing.
The last week in August historically is the best time to vacation. Save the Open, generally you will not miss much. And since you need a vacation and this is usually a slow week this is a great time to get away. I never understand the young guys on our desk who take off the first week in August, or some time in July. Those are not the times to take off. But the last week in August and even the first week in September are historically reliable weeks to recharge without missing much market action.
If any are excited about where they are going on vacation, I hope you share with us. For me it will be the Outerbanks. A huge house on the ocean. A pool (got to get some laps in), a desk overlooking the ocean (great reading location), a grill (marinated salmon), tennis (US Open season), golf (wait I thought I wanted to eliminate stress), and friends coming in and out for visits (those I don’t find annoying). Now that is what I call a vacation……Chop!
16 Comments on “Vacation….Chop!”
Enjoy your R+R. Been going to OBX almost my entire life; hope you have a blast!
Enjoy your R+R. Been going to OBX almost my entire life; hope you have a blast!
Well deserved. Have a blast!
Well deserved. Have a blast!
Well deserved. Have a blast!
funny how people from up north go to NC for the beach and people from NC go to SC…
funny how people from up north go to NC for the beach and people from NC go to SC…
funny how people from up north go to NC for the beach and people from NC go to SC…
Which books will you be reading?
Which books will you be reading?
Which books will you be reading?
Estes park for me this year. Hike until I can’t walk and great fly fishing. Golf isn’t very good there, but hey, the mountain air at high elevations in the rockies in a cabin is a total recharge. Back at you early September.
Bon voyage!
Bon voyage!
Bon voyage!
Have a safe trip!