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Wednesday, August 20, 2008

The Enemy of the Millionaire and Poor Man Alike ... (VIDEO)

Challenge Accounts:

Investing Account Balance:
Stock / Futures Trading Balance: $954.13
Online Savings Balance: $47.39

Personal Trading Thoughts: I might actually look for a short bias position in the market, but I'd like a small rally to sell from before I do so. If we can get a rally in Gold, we might see a small pullback from the US Dollar.

Personal Investing Thoughts: DRIP remains on for all of my stocks. I have my eye on a few stocks for my long term investment portfolio. But also I have in mind that there are signs of weakness in the midst of this relief rally. In addition, September is a month of extreme seasonal weakness. Therefore, I will wait. Sometimes, the best thing you can do with investing, is know when to just wait.

When I was 24 years old? I was making what I considered to be a lot of money. And it was then that I discovered the enemy of everyone's net worth ...

(This post contains video. If you cannot see the included, click this link to go to the exact entry ...)

Tomorrow I will discuss "The New Robber Barons".

* * *

Challenge Project Account Balances and
Money Management Numbers:

Investing Account Balance:
Stock / Futures Trading Balance: $954.13
Online Savings Balance: $47.39

Total Trades: 6
Largest Inter-trade Drawdown: $86.51
Consecutive Losing Trades (Drawdown): 2
Average Drawdown: $56.63
Average Loss: $74.27
Accuracy Rate: 33%
Average Reward: $175.34
Risk : Reward Ratio: 1 : 2.1
Trading Money Gain / (Loss): Up + $53.84

This is not an investment or trading recommendation. The losses in trading can be very real, and depending on the investment vehicle, can exceed your initial investment. I am not a licensed trading or investment adviser, or financial planner. But I do have 12 years of experience in trading and investing in these markets. The Challenge accounts are run for the education of other traders who should make their own decisions based off their own research, and tolerance for risk.

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