Hello my fellow friends,
I am now posting a journal since I started to convert my previous occupation (running businesses) into trading/investing for real. I want to make sure I succeed under all circumstances. Or else how would I pay for chow
I am 2X years old, I have been running things since I was 13 , a few failures a few successes, those successes made me a happy man, those failures made me even stronger.
Capital:
I have a nice size capital, I trade with usually around $100 K Buying power, and scale up to $200k
Psychology:
I have no self esteem issues, I don't do revenge trading, I do get frustrated and over trade, I definately know I'm a mini me compared to the mighty market.
Me = stupid
I am risk adverse, I know how to lose, 0.3% stops mental.
but of course even with these stops;
Me = stupid.
So I'm bound to have slippage
Position size:
Right now I use $60k , until I can get a nice profit so I can reward myself with a bigger size $120-150k
$60k allows me to buy around 2000-3000 shares of $30 stocks
Once I put on a $60k , it should make money immediately, immediately afterwards I will initiate another position in a 2nd stock to put me around $100k invested.
Strategy:
nasdaq stocks.
One or two opportunities day at extreme rallys or sells.
I will only sell at extreme rallies, buy at extreme sells.
I will short more often then I buy, for some reason,
Short is my friend, Its sort of like what one of the ET members said
"once I hit the "buy" button, it automatically steals my money"
so I use this to my advantage and change this into the "Short" button.
Stops:
0.3%
Thats all I allow the market to take from me
Trades:
I only allow myself 1 or 2 trades a day,
That means If I get stpped out twice, thats it buddy,
Go home. You should have been more patient instead of shorting everything or longing everything on sight.
Next time you'll know better then throw away your opportunities.
Again Me = stupid.
Experience: Been trading on and off for 2 years, almost full time since Last year doing position trading.
Goals: 1-2% each trade , Month = 2-3% a month
Trading windows. 6-9 times a month.
My goal of this journal is, I want to make it to a full time trader because I need a used porsche and live in a hotter area in NYC , I need to make money and I need more $$$$$
I missed out on the real estate boom of 2000, I cry myself to sleep almost every night.
I'm here for the money, I will under no cicumstances mess with myself and do dumb things.
Me = stupid.
Stating that, I'm bound to do dumb things
Money Goals: with a capital of $200-400k , I'm hoping to do 1% per trade and make $2k- $4k each successful trade, If I can accomplish $10k a month, I'd be happy for that time.
but I'd like to hit $20k a month. When I hit $20k a month, I'd probably want to hit $40k a month, When I hit $40k a month, I'd probably just be skipping in place all day.
Although I am only using $60k right now, because Me = stupid.
Stupid people can't be managing $400k until they prove themselfs!
Considering Me = stupid, Thats a mighty task for a youngling like me.
Time to walk the treachrous path.
AIM in profile
I am now posting a journal since I started to convert my previous occupation (running businesses) into trading/investing for real. I want to make sure I succeed under all circumstances. Or else how would I pay for chow
I am 2X years old, I have been running things since I was 13 , a few failures a few successes, those successes made me a happy man, those failures made me even stronger.
Capital:
I have a nice size capital, I trade with usually around $100 K Buying power, and scale up to $200k
Psychology:
I have no self esteem issues, I don't do revenge trading, I do get frustrated and over trade, I definately know I'm a mini me compared to the mighty market.
Me = stupid
I am risk adverse, I know how to lose, 0.3% stops mental.
but of course even with these stops;
Me = stupid.
So I'm bound to have slippage
Position size:
Right now I use $60k , until I can get a nice profit so I can reward myself with a bigger size $120-150k
$60k allows me to buy around 2000-3000 shares of $30 stocks
Once I put on a $60k , it should make money immediately, immediately afterwards I will initiate another position in a 2nd stock to put me around $100k invested.
Strategy:
nasdaq stocks.
One or two opportunities day at extreme rallys or sells.
I will only sell at extreme rallies, buy at extreme sells.
I will short more often then I buy, for some reason,
Short is my friend, Its sort of like what one of the ET members said
"once I hit the "buy" button, it automatically steals my money"
so I use this to my advantage and change this into the "Short" button.
Stops:
0.3%
Thats all I allow the market to take from me
Trades:
I only allow myself 1 or 2 trades a day,
That means If I get stpped out twice, thats it buddy,
Go home. You should have been more patient instead of shorting everything or longing everything on sight.
Next time you'll know better then throw away your opportunities.
Again Me = stupid.
Experience: Been trading on and off for 2 years, almost full time since Last year doing position trading.
Goals: 1-2% each trade , Month = 2-3% a month
Trading windows. 6-9 times a month.
My goal of this journal is, I want to make it to a full time trader because I need a used porsche and live in a hotter area in NYC , I need to make money and I need more $$$$$
I missed out on the real estate boom of 2000, I cry myself to sleep almost every night.
I'm here for the money, I will under no cicumstances mess with myself and do dumb things.
Me = stupid.
Stating that, I'm bound to do dumb things
Money Goals: with a capital of $200-400k , I'm hoping to do 1% per trade and make $2k- $4k each successful trade, If I can accomplish $10k a month, I'd be happy for that time.
but I'd like to hit $20k a month. When I hit $20k a month, I'd probably want to hit $40k a month, When I hit $40k a month, I'd probably just be skipping in place all day.
Although I am only using $60k right now, because Me = stupid.
Stupid people can't be managing $400k until they prove themselfs!
Considering Me = stupid, Thats a mighty task for a youngling like me.
Time to walk the treachrous path.
AIM in profile
