Yes, I've been trading for years, yet I'm still a novice. Yes, I've had some wins, but they're buried beneath many more losses. Yes, I still trade because though it's not always fun, the thought of being retirement age and having to work to survive has to be less fun.
If you're a veteran trader, my instablog posts will probably bore you. If you're new to trading or a 20-year rookie like me, you're probably better off reading the veterans' articles. But if you stick around, you just might learn something by learning from my mistakes.
My intentions of instablogging, if they don't kick me off for being so useless to their readers, is to share my ups and downs and disasters, hoping to learn from them as well as get some advice and encouragement from the few who'll read my posts. If no one reads, I'll break even -- which would be a win if it was a trade.
Recently, I've placed some trades, first time in years now that I've recovered from the initial shock of the price of having a child. And as my child grew, so did my concern of having the type of financial security I'll need to be able to provide for my child the way I feel she deserves.
So, how did I do it? The exact same way that has gotten me in trouble in the past. With reckless abandon justified by my glass almost full optimism of life.
Wanting to start with just enough that if I lost it all by the summer I could still feed my family, I started with $250. The stocks I bought included E-House (China) Holdings Limited (EJ); Alumina Ltd (AWC); Orient Paper, Inc. (ONP); and db X-trackers 2040 Target Date ETF (TDV) in an investment Roth IRA.
I then downloaded an app to follow my investments wherever my phone and I went. Though I know better than to check my portfolio's performance every couple of hours, the instantaneousness of my portfolio's value dropping simply amazed me. And just as instantly, I remember why I didn't miss trading for the past couple of years.
No worries. You only lose when you quit trying. And there is no try; just do or do not.
From today until retirement, I'm going to instablog my progress, what I did wrong, what I figured out, and just go from there. You're invited to take this journey with me or simply sit back and observe me squirming like a fish ripped out the stock market ocean.
And, of course, if you have any advice, please do share.