Looking Back at 2000

Ever since I started this column, I've taken time out early each year for an in-depth review of the past 12 months. This review has always taken the form of an "interview" -- with the questioner being none other than myself.

In fact, this is something I've been doing for the past 25 years, with a written record going back quite a while. (Upon quick review, 99% of my early years seemed to focus entirely on my dating life. It's as if I never had a job until I got married!)

This interview, which will span this weekend and next, also serves to update many of you on where I am with my trading, and what changes and modifications I've made. In addition, I've included a healthy dose of personal information, as this has had a direct impact on my success this past year. I always enjoy doing these columns because they're therapeutic. I hope you enjoy reading them.

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Q: So, GBS, Mr. Chartman, da Crusher, and lord-knows-what, I'll let you have the opening salvo. Tell me about your year.

GBS: OK, here goes. In short, the year 2000 ... stunk.

Q: Wow. Any specific reason?

GBS: Well, let's put it this way: You know those lists you always see that name the top 10 stress producers?

Q: You mean like losing your job, moving, etc?

GBS: Right. I think in the past 24 months I've experienced just about every single one, either directly or indirectly, with most coming to a head this past year.

Q: Sounds depressing. Any specifics you want to share?

GBS: No, most of the stuff is very personal, and I'm sure the readers struggle with their own problems. Let's just say I'm happy to move on to 2001.

Q: Then without getting specific, did the problems you encountered this past year affect your trading?

GBS: I honestly don't know. I do know that my worst period was April to August, and that was also a very stressful time for me. So, while I'd like to think I could separate my trading from the rest of my life, maybe I wasn't seeing things as clearly as I might have.

Q: The market was very choppy during that period. And you pretty much have a trending method. Do you think that was the problem?

GBS: Oh, it might have been that. But I've always adapted well in choppy markets. No, maybe in thinking about it, I should have just taken that time off completely. I mean, there were a few nice trends during those months that I completely failed to capitalize on.

Q: That makes me wonder: During that period, did you think about taking time off?

GBS: Yes, on occasion, a little voice would whisper that I should take a few weeks vacation. And, in fact, there were a few days I did take off because I just couldn't muster the energy to go through even five charts, let alone 500.

Q: Yes, but you continued to write nearly seven days a week during that time. Surely that must have been difficult?

GBS: Honestly -- and most writers will tell you this -- after you have the first few words down, you enter a different world, and it's easy. But, boy, there were a few days I'd do nothing but stare at the screen for hours. I was not a happy camper.

Q: But you seem OK now. So how'd you get from being an unhappy camper to where you are today?

GBS: I am extremely, extremely fortunate to have a small number of very good friends. Some are traders, some aren't, but they all understand both my personal and business life, and did what great friends do -- they listened.

Q: So your friends helped get you through a rough patch?

GBS: Right, and that support structure, if you will, is something everyone needs, most especially traders. Most traders are essentially flying solo. I think that's good for the most part, but every once in a while, you just need to vent to a real live person.

Q: Agreed. Now, all that aside, though, what was your final year-end tally?

GBS: Net of commissions, I was up about 40%.

Q: Well, that's not too bad, all things considered. Are you happy with that, though?

GBS: No. In fact, I'm not happy at all. It was a dreadful performance.

Q: Well, the numbers aren't too bad. Why do you say dreadful?

GBS: Oh, I had a bang-up year going into the first quarter, like everyone else. And in the last quarter, I was fine. However, like I said earlier, it was the middle of the year where I just stunk. And what really irritates me is that we had a beautiful trending market -- albeit downward -- for the better part of that, and I just didn't take advantage of it as I should have.