Journal of a Novice-Level Speculator

Quote from Pension_Admin:

Definitely, if someone has a good track record would surely beat someone with just a piece of paper. Getting the track record is much more harder than getting the CFA designation. That may be why most of the CFA charterholders I've seen are mutual fund managers instead of hedge fund managers.

PA
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FWIW, I passed the 3 in 1981 and never renewed it. Never needed to. I don't have any customers, and just trade my own account and have never needed an audit to get customers. Still, I get offers all the time from people in the industry, shoving huge bucks in my face, because if you're good, people know. However, I'm only good in the grains, for my own account, and I'm comfortable with that.

Jeff
 
Today my trade got closed out. NZD/USD was too strong. It was heavily supported and refuse to go down. I had to close the trade before it makes a higher high.

Account Balance
Before: $900
After: $1,033

I went to an interview today. I don't think I did too well, but at least better than yesterday. Hopefully I'll get invited for the second interview.

Through preparing for the 2 interviews, I got a bit behind with my study. I have to do some catch up over the weekend.

PA
 
Quote from nokomisjeff:

FWIW, I passed the 3 in 1981 and never renewed it. Never needed to. I don't have any customers, and just trade my own account and have never needed an audit to get customers. Still, I get offers all the time from people in the industry, shoving huge bucks in my face, because if you're good, people know. However, I'm only good in the grains, for my own account, and I'm comfortable with that.

Jeff
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Nice! One day, when I have enough money and trade well enough, I will probably toss my designation aside. Until then, I'll have to rely on it to live by.

I'll just day dream about not needing the designation for now. :)


PA
 
No trading today.

Learned some statistic and sent out a job application.

I spent most of the day trying to fix my computer, because Firefox keep crashing on me. :(
 
No trading today.

I just did more studying. I started the accounting section, and so far things make sense. I guess the hard part will be memorizing all the concepts.

I sent out another job application. I plan to send more out tomorrow. Being unemployed really have an effect on my emotion. I am wondering if I ever gonna be able to get another office job.

I still haven't heard anything back after the interviews I did last week. We are already in the middle of the week, so I am feeling a little bit down.


PA
 
No trading today.

I pretty much did the same thing as yesterday, except learning a bit of VBA.

I also downloaded this booked called Twenty-Eight Years in Wall Street by Henry Clews. I don't know what this book is about or the difference between this book and the one called Fifty Years in Wall Street, but I found out somewhere that Henry was a good trader-like Jesse. So, I am gonna read it whenever I get some free time.

BTW: The book is over 800 pages! :eek:

PA
 
50 years on wall street was the edited version of 28 years. The first 3 paragraphs of chapter 3(I think) give the best, most failsafe system for making money in stocks. Every crash Ive been through since 1987, I've used Clews system and made a lot of money.....It has been profitable every crash since 1912.
 
Quote from nokomisjeff:

50 years on wall street was the edited version of 28 years. The first 3 paragraphs of chapter 3(I think) give the best, most failsafe system for making money in stocks. Every crash Ive been through since 1987, I've used Clews system and made a lot of money.....It has been profitable every crash since 1912.
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Thanks for letting me know the difference between the two versions and I appreciate the pointer. I am going to read chapter 3 tonight.

BTW: Thanks for the book as well! I actually got the book from your website. :D You got a nice library of investment classics there!

PA
 
No trading again today.

Just learned a bit more about pension accounting and a bit of VBA.

Tomorrow I gotta finish the whole pension accounting section. My goal is to finish the accounting section over the weekend and start doing the questions next week.


PA
 
Again no trading today.

I did some accounting questions and also sent out a couple more resumes.

Gonna learn more about the "Do Loop" function in VBA before I go to bed.


PA
 
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