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Friday, September 12, 2008

Practical Goal Construction

Quotations of the Day:

"The reason most people never reach their goals is that they don't define them, or ever seriously consider them as believable or achievable. Winners can tell you where they are going, what they plan to do along the way, and who will be sharing the adventure with them." - Denis Watley

* * *

Challenge Accounts:

Investing Account Balance: $434.78
Stock / Futures Trading Balance: $954.13
Online Savings Balance: $47.51

Personal Trading Thoughts: I am still within the CRBC trade where I entered at $3.09, and tightened my profit stop up to lock in profits; and we're moving higher today. I'd like to take profits around $5.09. We'll see how it shapes up.

Personal Investing Thoughts: We remain in the channel that we've been stuck in for a month. Just waiting for a breakout. I wonder if the market will remain this way until the election. DRIP remains on for every dividend investment stock I continue to hold.

You've heard it said: "You need to have goals". That's about as helpful as "Buy low, sell high" How? How do you construct goals and work towards them? Well, this is what's worked for me ... ... (video included)

Tomorrow is the "Week in Review".

* * *

Challenge Project Account Balances and
Money Management Numbers:

Investing Account Balance:
Stock / Futures Trading Balance: $954.13
Online Savings Balance: $47.51

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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