17Jun19
A counterpart to self; a complementary mastermind. Moving forward in word and deed, I will speak of the movement as it develops. “Slow motion better than no motion,” and “Slow is smooth, smooth is fast.”
Since returning from cruise, one month ago today, I have slowed in some areas of my study. I am 21 books into my year’s goal of 44 before starting to implement a trading strategy. The texts have been eye opening in many areas. Multiple exchanges and markets, forex trading, market strategies, financial markets, day and swing trading, technical analysis, retirement planning, and my passion, the energy market.
Touching on multiple areas, I plan to revisit energy later this year or next year with a greater understanding and actionable items for 2020. Next year is right around the corner and financial goals are being formulated. Essentially, my goal is to match my current salary. I’ve at least heard of capital gains taxes, and I’ll get to experience the 20% or so of it by that time hopefully.
My other actionable item before next year is to become familiar with trading software that can allow for higher speed buys and sells. MetaTrader4 and Plus500 have good reviews from my reading. I’ll be paper trading for the rest of this year. Meanwhile, I’m increasing the balance in my Robin Hood brokerage account.
Beyond these items, my life is consumed with family, work, and school. Spirituality is reemerging and I’m finding solace in the simple things once more. The big questions are:
What are you trading 01Jan20?
How often will you be holding your trades?
21Jun19
In the spirit of thinking outside the box, this entry will include vocabulary I’ve picked up so far mostly, with insights into my planning ahead. I have had little time to read in the last few days. I understand compound interest – P1=P(1+i)N. With our 15-year retirement goal, starting with $20,000, 30% is our golden number for i. With my personal account, starting with $1000, i=45%. So those are my realistic goals going forward. This means that each month when I start trading, I should be getting greater than 45% returns. However impractical it seems right now, it is my goal.
Terms I’m becoming familiar with include volatility, trading exchanges, technical indicator, delta, gamma, MACD, RSE, ADRs (I want to acquire them… was thinking about Nikon, learned they were a Japanese company), multiple Net Value terms, balance sheets, 10K, quarterly and annual reports, NASDAQ, AMEX, NYSE, TYO, Chicago Exchange for commodities, P/E ratios, basis points, automated trading strategies, options, futures, forex, bull and bearish markets, seasonal trends are big to me, opening and closing prices. 9:30 est, 24 hour forex, bonds, securities, derivatives, OTC stocks, longs and shorts, limit orders, stop orders, DOW, small, mid, and large cap, dollar-cost averaging, equity, REITs,
The application of these concepts must be secure. The structure of the market sectors is a key picture I’m working on developing. Parent companies and all their children can drastically increase the strength behind trading decisions, especially within the energy sector. “Money today is worth more than money tomorrow,” so I need to put my dollars to work asap.
03Aug19
A failed grad class later, evaluating my moves, I am at only slightly hopeful. The trader is yet emerging, and as a baby cries as his 1st teeth push through his gums, pain is a daily occurrence. Timing hindered my success in my summer grad course. A slower, more concentrated effort now takes school’s place. I have downloaded MetaTrader4 and used it only twice so far.
I have also opened a LinkedIn account and will begin to build my resume and network. 2 books more have been completed, and I’ll list them at the end of this post – January to the present. I’ll begin my blog anew with this post also. I feel as though my life is academia is over. Acquiring a bachelor’s degree was a personal goal to prove something to myself and others. Pride guided my next decision to get into a graduate studies program at a more well known school. I settled on Purdue and spent days and then weeks on the leg work. After successfully completing one class, losing count of the sleepless nights, I waited a year to take the next one.
My oldest aunt passed during the middle of the class. I packed up the family and we made the funeral. I fell back in the class, and it hurt for a week or too. Now that it’s over, I look back and take the L. My goal has never been to get another job working for someone else. Academia in many ways prepares you for just that. My work and family do not permit me to take on the responsibilities of a time-critical graduate level course. This is the perfect season to continue studying independently; a perfect time to network and apply information from my research.
Books so far in 2019:
- Energy Trading and Risk Management // Mack, Iris
- How to Day Trade for a Living // Aziz, Andrew
- Power System Economics 2nd Ed. // Kirshen, Daniel
- Day Trading University // Ken Calhoun
- The Guide to Stock Market Investing // Jason Kelly
- Profitable Day and Swing Trading // Harry, Boxer
- Keene on the Market // Andrew Keene
- Money: Master the Game // Tony Robbins
- The Playbook: Inside Look... Think like Pro Trader // Mike Bellafore
- Digital Decarbonization // Council of Foreign Relations
- Secrets of Antigravitc Propulsion // LaViolete
- Automated Options Trading // Izraylezich
- Using the Financial Pages // Romesh Vaitilingam
- Essentials of Forex Trading // James Chen
- How to Retire Early // Robin Charlton
- Naked Forex // Dr. Walter Peters
- Insider Buy - Superstocks // Jesse Stine
- Commodities for Dummies // Amine Bouchentour
- Seasonality in the Stock Markey // Jay Kaeppel
- What Works on Walstreet // O'hannessey
- The Investopedia Guide to Wall Speak
- Trade Like an Oneill Disciple // Gil Morales
Some of these were amazing, others were boring the entire way through. Something was gained from each of them. Often I liken research to putting together a jigsaw puzzle, which i love to do. The more pieces you have, the more intimately you understand what picture you're putting together. Experts would attest to this slow approach. Besides, I love research. More to come.
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