For months I’ve been preparing for Round 2 of live trading with my new patterns. My plan was to start this month but it looks like it’ll have to be pushed back. I wanted to have at least $3,000 in my bank account so that I’ll have less pressure on me to make bad trades, as $3,000 usually covers bills and mortgages for all four properties. But the consecutive renovations and my novice handyman experience has kept me in the $1500 range since July. October looks like the first month that I’ll begin making some good money again, so I’ll have to wait until the end of next month. There are other… issues as well.
“If you believe in yourself, you can do anything.”
“There’s nothing you can’t accomplish once you put your mind to it.”
“There’s nothing to fear but fear itself.”
“You miss 100% of the shots you don’t take.”
Or how about my favorite one:
“I am ready to accept any challenges foolish enough to face me.”
These are all the typical inspirational quotes thrown at those who are about to take on a big challenge. But I’m stuck on something. 90% of people who get into the stock market fail. I can’t stop thinking about that percentage number. And those 90% aren’t idiots. Many of them are well-educated people who have more experience, more financial education, and more discipline than I do. I’m hardly well-educated and I’m no expert in finance… or anything for that matter. How the fuck can someone like me succeed where 90% have failed?! I see my patterns but I’m surely not the only one who thinks he found the magic pattern. And I’ve only found two, while others have hundreds of patterns they’ve discovered.
I’m not the first person to make a bit of money in the stock market, and then have dreams about retirement and trading on a beach. There are guys who have indicators and methods based on sound financial data. And me? I have… patterns. Even Bob Rogers referred to stock trading as a “zero sum game”. With all this stuff going against me, I think waiting until the end of October is the way to go... possibly November. After I quit the shipping depot, I can use a portion of my free weekend time to go over the prior week’s sim trades and possibly develop new patterns before live trading. For something this risky, it never hurts to get a little more experience before I try Round 2 again.
Hey.
Hmm.
Hehehe.
I love this blog.
I was supposed to end this post a couple lines ago. I usually read the post aloud before I publish it, to make sure the words sounds like me. So I read the part that went, “How the fuck can someone like me succeed where 90% have failed?” And that’s when it dawned on me that I was asking the wrong question. The real question is this: “How can I not try?” There is no consequence for this venture except to lose a max of $5,000 which I’ll have to pay back. I have 2 properties that can make me about $80,000 after a refinance which I can use to make everything right. And then there’s the pattern. Not the stock pattern, but MY pattern.
I was wrong when I said that I’m not an expert on anything, because I’m an expert on me. I have a pattern where I try and fail, then try again and succeed. Hell, I’ve documented many of those instances on this very blog. I did it in school, in real estate, and I’ll do it again with trading. I failed last year when I lost almost 50% of my investment in Round 1. Based on my life pattern, Round 2 will be a win. And as far as it “never hurts to get a little more experience before Round 2”, that’s not entirely true. Maybe if I were 25 and healthy I would agree. I’d take extra time to learn more stuff. But I’m 35 years old and my health is that of a man twice my age (or a dog half my age). I might go to sleep tonight, have an aneurism, and not wake to see tomorrow. I can lose my mind while driving and drive off a cliff. The thought of death doesn’t bother me, but the thought of leaving with this question unanswered is just… it’s annoying.
So I just applied for the $30,000 loan roughly ten minutes ago from Lending Tree. With my 755 credit score, I should be approved quickly with a good interest rate. Once the money is transferred to my bank account, I’ll put it in my TD Ameritrade brokerage account and get my 4 to 1 margin. It’ll be off to the races after that. You know, all the quotes in the world don't mean dick if the person reciting them doesn't have that confidence. Thanks blog. Sometimes I forget who I am and why I do what I do. It’s good to know that I’ll always have this blog to keep things honest.
“If you believe in yourself, you can do anything.”
“There’s nothing you can’t accomplish once you put your mind to it.”
“There’s nothing to fear but fear itself.”
“You miss 100% of the shots you don’t take.”
Or how about my favorite one:
“I am ready to accept any challenges foolish enough to face me.”
These are all the typical inspirational quotes thrown at those who are about to take on a big challenge. But I’m stuck on something. 90% of people who get into the stock market fail. I can’t stop thinking about that percentage number. And those 90% aren’t idiots. Many of them are well-educated people who have more experience, more financial education, and more discipline than I do. I’m hardly well-educated and I’m no expert in finance… or anything for that matter. How the fuck can someone like me succeed where 90% have failed?! I see my patterns but I’m surely not the only one who thinks he found the magic pattern. And I’ve only found two, while others have hundreds of patterns they’ve discovered.
I’m not the first person to make a bit of money in the stock market, and then have dreams about retirement and trading on a beach. There are guys who have indicators and methods based on sound financial data. And me? I have… patterns. Even Bob Rogers referred to stock trading as a “zero sum game”. With all this stuff going against me, I think waiting until the end of October is the way to go... possibly November. After I quit the shipping depot, I can use a portion of my free weekend time to go over the prior week’s sim trades and possibly develop new patterns before live trading. For something this risky, it never hurts to get a little more experience before I try Round 2 again.
Hey.
Hmm.
Hehehe.
I love this blog.
I was supposed to end this post a couple lines ago. I usually read the post aloud before I publish it, to make sure the words sounds like me. So I read the part that went, “How the fuck can someone like me succeed where 90% have failed?” And that’s when it dawned on me that I was asking the wrong question. The real question is this: “How can I not try?” There is no consequence for this venture except to lose a max of $5,000 which I’ll have to pay back. I have 2 properties that can make me about $80,000 after a refinance which I can use to make everything right. And then there’s the pattern. Not the stock pattern, but MY pattern.
I was wrong when I said that I’m not an expert on anything, because I’m an expert on me. I have a pattern where I try and fail, then try again and succeed. Hell, I’ve documented many of those instances on this very blog. I did it in school, in real estate, and I’ll do it again with trading. I failed last year when I lost almost 50% of my investment in Round 1. Based on my life pattern, Round 2 will be a win. And as far as it “never hurts to get a little more experience before Round 2”, that’s not entirely true. Maybe if I were 25 and healthy I would agree. I’d take extra time to learn more stuff. But I’m 35 years old and my health is that of a man twice my age (or a dog half my age). I might go to sleep tonight, have an aneurism, and not wake to see tomorrow. I can lose my mind while driving and drive off a cliff. The thought of death doesn’t bother me, but the thought of leaving with this question unanswered is just… it’s annoying.
So I just applied for the $30,000 loan roughly ten minutes ago from Lending Tree. With my 755 credit score, I should be approved quickly with a good interest rate. Once the money is transferred to my bank account, I’ll put it in my TD Ameritrade brokerage account and get my 4 to 1 margin. It’ll be off to the races after that. You know, all the quotes in the world don't mean dick if the person reciting them doesn't have that confidence. Thanks blog. Sometimes I forget who I am and why I do what I do. It’s good to know that I’ll always have this blog to keep things honest.
P.S.: What a post! PRM was right, this thing is too important to be called a "blog". Blogging sounds like something one does after eating too much food. I've gotta come up with a better name for this thing.
P.P.S.: I checked the market this morning and luckily saw my pattern develop with NFLX. So I made a sim trade and made $520 in less than an hour. Yeah, I'm definitely doing this!
P.P.S.: I checked the market this morning and luckily saw my pattern develop with NFLX. So I made a sim trade and made $520 in less than an hour. Yeah, I'm definitely doing this!
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