I need to post about our trades and current positions, but until then, enjoy the run. A first time race report: Not sure how to do a real race report, so as a first attempt, please bear with me on the learning curve. My goal has been to run in the Boston Marathon. However, as arguably the most prestigious race out there, there are certain qualifications that have to be met in order to participate. The first, and probably the most daunting challenge is the qualifying time. These times are broken down by your age and as of the 2013 race, they were significantly lowered. As an 18-35 year old male, I now needed to run 3:05:00 or better {down from 3:10:59} just to be considered as qualifying. The time was lowered because last year, they had so many qualifying applicants that they chopped it off by time and my age bracket had to be sub 3:08:40 {more than 2 minutes faster}. In order for me to get this goal accomplished, I was going to need a tune-up race prior to going to Champaign for my next full marathon.

The Cary Grove Hillstrider's Half Marathon is the self-proclaimed hardest half mary in northern Illinois. Sounds like the perfect type of race to get the competitive juices flowing again and to work out some racing strategy before getting into a full. It was unseasonably warm as we prepared to start. The 8 am temperature was 68 and though that doesn't seem exceptionally hot, it would play a factor in my performance later on that morning. This was a non-tagged race, meaning that when the gun sounded you ran and if you were in the back of the pack, well you were just going to have a slower time.

My half marathon goal was 1:27 to 1:28. I figured that would be a sufficient time because the goal for a full was 3:00 {ensuring that even if they lowered the BQ time bracket for my age group I should still be able to run 2013}. I wanted to go run hard enough that I had very little left in the tank at the race's end. This strategy would prove strangely detrimental later in the race even though it seemed like an excellent idea at the time. My training partner had previously run this race and offered a couple of suggestions:

1. The hills are intense and there is no shame in running them a bit slower than pace.

2. Open it up on the downhill portion

3. Save something for the last 1.5 miles...

Here's the map

Miles 1-3
The course shape resembles that of a figure eight, starting and finishing at the local high school. The first three miles begin with a gradual decent and then an impressive drop down to one of the race's lowest points.

I was a bit slow getting out of the gate as I nestled in the front of the 7-minutes per mile group. As a result my first mile was relatively slow time {in race time} but it felt much faster to me due to all of the weaving and grinding it took to break free from the masses. The decent down the that first big hill was fast and though I was tempted to really open it all up, I restrained myself, thinking it would be intelligent save it for the climb I knew was just around the next big turn. My three mile split was 19:46 and pace wise, that was near perfect for what I was hoping to run.

Miles 4-8
These miles were marked with rolling hills though they were nothing too over-powering. Only one of them would need to be rerun and it was a steep grade in the front and a gradual decline. I attacked the first few inclines pretty quickly, shortening my stride and pounding up them right at race pace. I could feel the burn starting to grow in my quads, but from what I remembered of the course map, there would be a long, gradual decline again around mile 7. Banking on this, I pressed forward. I had found a group of 4 runners that we're running 6:45 miles very consistently so I began drafting with them as we eased down mile 7. As mile 8 approached, I first noticed the sign for one of the hills; it said "hill #4" and also named it, though I can't remember what it said. This was a hard hill and I felt my energy truly beginning to wane. Thankfully there were Cliff Gels at the base of the hill and with that blast of sugar I could feel my energy levels rebounding even as I reached the backside of hill #4.

Miles 9-13.1
Mile 9 was the switch back point where you were back on a section of road you'd already run. It was a relatively flat, straight shot that would eventually bank to the south and head up that first huge hill we'd descended to begin the race. My speed was holding fairly constant, but as the sun beat down and the racers around me could sense the finish creeping closer, the speeds quickened. My 9th mile would wind up being my fastest {6:25} and in retrospect, when coupled with the hill that ended after mile 10; my race future had already been written. I remember passing another runner as I climbed hill #5 and he championed me on a great race and a powerful climb. As I forged ahead I could feel myself creeping very close to the dreaded "red-line". I knew that line, and I knew that if I crossed it, I might end up like my first half mary {first attempt}. I was forced with a decision point: slow down and lose valuable minutes or press ahead, cross the line and pray that I make it to the end. I knew that hill #6 still loomed ahead; I remembered my partner's warning to save something for the grueling finish, I made the call. I slowed. I gave up 35 seconds per mile in an effort to finish strong.

Mile 12 held the final hill, but realistically it was a set of 3 softly rolling humps. Unfortunately the damage had been done, I was now struggling to maintain my final mile at a respectable pace. I was unable to dig any deeper to tap any hidden energies. I was over the line, struggling to reach the finish. As I came down the chute, I faced my feared time. 1:30:14 as I crossed the line, two to three minutes late. Though I felt exhausted at the time of crossing, I knew that I had made a fatal flaw in crossing the red-line. It tricked me in to being far more defeated than I actually was. In retrospect, it wasn't the end of the world. I'd run a good race, on hills, and I had finished within a few minutes of my goal. I had done 13.1 at a pace that will hopefully carry me to a qualifying time in just a few short weeks. My public stats can be found on MapMyRun.com 

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Blowing up, not Blowing out

Back in June '11, after a few beers, I began to shoot my mouth off about my athletic prowess as a runner. Though I hadn't run since 8th grade cross country, I was sure that I could still do it and furthermore, proclaimed that I would be running at least a half {if not a full} marathon by the year's end.

First race I ran was September 11th and it was one of the Chicago's Half Marathons. I finished...though its not exactly clear how. At some point, dehydration, hypoglycemia, and sheer lack of training caught up with me. I staggered the last few meters to the finish, woke up in the ambulance to some EMTs asking me questions, passed out again to wake up in the ER, passed out demanding that they don't cut my shirt off or destroy my iPod, woke up and passed out again.

I had hit the the runner's Red Line and had pushed my body past its working zone. Suddenly I had a new respect for the running and the toll it can extract from your body if you're ill prepared or not properly conditioned. In a strange, quasi world, it reminded me of trading.

It was as if the race had become a metaphor of my trading. Maybe I staggered to the finish, but the results had been less than impressive. My time of 1:38 was nothing spectacular and my arrival at the ER was ultimately a kick in the shins. It was as if I had just been trading huge, slinging futures here and there until the weight of my own position caused me to puke. All traders that have longevity in this business seem to have an innate sense of when to hit the eject button on a loser. Strangely in a race, that eject button was the finish line, but to hit in an orderly fashion, would have required me to walk. In my mind Walking was the same as Puking a position. I wasn't willing to make that trade. The results are documented in my permanent medical history.

I've made the puke trade countless times. It never feels good during the vomiting session, but the relief shortly thereafter is always euphorically refreshing. I'm reminded of one of the few stories I can recall from my uncle Al before he passed away. After listening to any problem you might have had he'd calmly say, "It doesn't matter how many times you've fallen off the horse, it only matters how quickly you get back on." I attacked running with renewed vigor. I adjusted my methodology, changed my diet, trained differently...almost as if I had gone back to the desk, found the charts and worked a new strategy for the next time my positions went awry.

I don't share this to say that I've got it all figured out in either of these areas {running or trading}. But I will say that I continue to do both regardless of the beat downs. The goal for me isn't to just finish the race or exit the trade, it is to smash my personal best and to squeeze every last tick out of the winners. More running tales later on, but for now, back to the grind of the trading day.

~LH

Goals for 2012

I'm no Jim Collins and this wont be a post filled with BHAGs. Rather, I just want to lay out a few macro bullet points about what I'd like to accomplish over the next 12 months. This will be my acid tester. A little strip that I've placed out there for everyone to poke at...and maybe hold me accountable to.

Goals for 2012 {1-5 Corporate, 6-8 Personal}

1. Create a sustainable trade in the EuroDollar Future's market. Not just taking blind risk {e.g. "Let's buy that spread because it feels cheap."} instead, making educated assumptions on risk and return and trading it with a directional bias at all times.
2. Manage my electronic trading more efficiently. Whether that is my auto-traders, auto-spreaders, or just my click trading, I want it to be done with more streamlined efficiency. I want to be able to watch the code work as planned and react accordingly if something gets derailed. 
3. Profits: I'd like to hit the % break by the end of Q3 2012. This will require at more effort than I'm currently exerting and wont be an easy goal. If we can achieve this prior to Sept 30, 2012, I'll have a legitimate shot at a personal financial best for a fiscal calendar.
4. Grow as a team. I've mentioned that we're adding another member next week. My goal is that he doesn't make a dime for the first three months. REALLY. The last thing I want is someone that thinks they have it all figured out. However, I do want him to succeed, and to wildly pass even his personal goals and aspirations. This will only be possible it we {the three of us} can figure out how to work as a team and how to build each other up and not destroy the boat we're all sailing on. I want to be an integral part of that growth and mentoring.
5. Begin to ask the question(s) about what the next steps are. Do we expand in terms of personnel? Allow ourselves to take on customer funds? What is the next level of our trading experience? 
6. Write MORE. I maintain a couple of blogs and a pair of Twitter accounts. I want to make sure that I respect what's in me to write and actually put most of my thoughts {trading related} on here.
7. Continue running. Specifically, I want to run the Illinois Marathon {Champaign, April 27-29} in under 3 hours. That should allow me to qualify for the 2013 Boston Marathon. I also want to run Chicago, however, its too far away for me to pick out a finishing time as of now.
8. Finally, I want to do some type of educational growth in my life. Whether that is continuing education or a refresher course or perhaps heading back to school for some type of graduate work, I'd like to reengage with learning.

That's it. I'm sure there are a bunch more. However, as I try to distill them down to the macro themes, these are the ones that keep emerging. Hold me/we/us to them.

as a fun link, read this Jim Collins post...it just makes sense

~LH