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hencleye
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Introduce Yourself Here - Don't Be Shy!!
hencleye replied to trading4life's topic in Beginners Forum
Doesn't make sense to me not to have one. I get a giggle out of some of the ridiculous expectations like "I plan to make 20% per month". While certainly possible, I think its better to have a more realistic goal and exceed it. I think it's easier to handle the euphoria of winning than to eat a big slice of humble pie. -
Introduce Yourself Here - Don't Be Shy!!
hencleye replied to trading4life's topic in Beginners Forum
Hello everyone, Just wanted to introduce myself and share where I am and where I want to go in my trading journey. Where I came from: My wife and I are both currently active duty military. I have been investing in stocks, bonds, and mutual funds for the last 10 years with moderate success. I have a business degree that specialized in finance which initially turned me on to fundamental analysis/Buffet style stock investing. I was a big believer in dollar cost averaging and long term buy and hold strategies and to be honest, I still think that they are viable ways to make money. About a year ago my uncle started swing trading and getting into technical analysis. I started following his blog and all his indicators, charts, and stratistics really grabbed my attention and I decided to l wanted to learn more. I did what appears to be the usual beginner thing and bought a bunch of books and read them. After bouncing my education against what I was reading I started to believe that all the fundamental analysis I was doing was already done by others and priced into the stock. I became a full convert to technical analysis. Where I am now: I attempted to use some systems I read about and worked on tweaking them to my own comfort level by paper trading. Paper trading doesn't work for me. I just couldn't take it seriously and so I decided to start swing trading my Roth IRA. I suscribed to a news letter that provides reccomendations of trending stocks. Every recommendation has come with a fully marked up chart and an explanation of the trade. Some of the trades will not work with my financial management plan which so far, has allowed me to out perform the news letter. I do not expect to keep outperforming. I have also recently started trading with my regular brokerage account. Where I want to go: Since my wife and I will both be retiring from the military in the next 5 to 6 years I will have a very nice start on meeting my goal of $6000 per month in passive income (2013 dollars). I hope to use cash flowing real estate and trading to earn the rest of the income. I hope to average a 12% net return over the next five years with all years netting at least 1% over the S&P. I am just looking to grow my equity curve until I retire and then assess the situation. Where I don't think I want to go: I don't think I'm interested in day trading, however my uncle has started day trading E-mini's and he can be very pursuasive. Strenghts & Weakness I believe that my personal strenghts are the financial management and the mental aspects of trading. I do not depend on trading to make a living and since I work full time I do not burn myself out in front of a computer. I do realize that I still have more to learn in these areas and that if I do start to depend on trading income the mental aspect will change drastically. My weakness is in the "system". I find it hard to develop "my own" system. I'm not opposed to continuing to use news letters as long as it works but there is an element of satisfaction missing. I have tried to manipulate other peoples systems but have not really gotten anywhere with that. I guess that about covers the introduction. I look forward to the opportunity to learn from everyone.