Current $500 Challenge Project Balances:
"The Three Sisters":
Investing "Sister" Balance: $845.73
Trading "Sister" Balance: $2,019.63
Side-pocket "Sister" Balance: $475.30
Total Challenge Project Funds: $3,340.66
Hi.
My name is Dan. I'm a trader, and an investor.
Some time ago, I began a "Low Funded Challenge Project". It is basically a demonstration of a model that anyone could at least follow along with on a weekly basis here on this blog. I usually put up an entry regarding this "Challenge Project" once a week, on Mondays. It is my attempt without cost, to help out the 'little guy' when it comes to investing and trading by providing an example, a 'model' as it were ... as run by myself as a professional trader with real money, in sub-accounts that I own; following my own three sisters portfolio management system; albeit modified a bit to operate with low funds. From time to time, I provide snapshots of the broker statements.
I've discussed my reasoning in the past as to why I feel it's important to do such a low funded 'passion project'.
But I've come to feel that there is a problem with the Challenge Project.
The problem, is that they are 'sub-accounts' that I have ...
(Video Included. If you're seeing this entry elsewhere and cannot see the Video? Click here to view the entry ...)
"The Three Sisters":
Investing "Sister" Balance: $845.73
Trading "Sister" Balance: $2,019.63
Side-pocket "Sister" Balance: $475.30
Total Challenge Project Funds: $3,340.66
Hi.
My name is Dan. I'm a trader, and an investor.
Some time ago, I began a "Low Funded Challenge Project". It is basically a demonstration of a model that anyone could at least follow along with on a weekly basis here on this blog. I usually put up an entry regarding this "Challenge Project" once a week, on Mondays. It is my attempt without cost, to help out the 'little guy' when it comes to investing and trading by providing an example, a 'model' as it were ... as run by myself as a professional trader with real money, in sub-accounts that I own; following my own three sisters portfolio management system; albeit modified a bit to operate with low funds. From time to time, I provide snapshots of the broker statements.
I've discussed my reasoning in the past as to why I feel it's important to do such a low funded 'passion project'.
But I've come to feel that there is a problem with the Challenge Project.
The problem, is that they are 'sub-accounts' that I have ...
(Video Included. If you're seeing this entry elsewhere and cannot see the Video? Click here to view the entry ...)
Ok ... so why do I call this surprise no. one? Because there is another surprise on the way. For this next surprise, you'll have to wait a few more months.
* * *
Note: 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 14 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.
* * *
Note: 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 14 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.
9 comments:
Wow
Wow indeed. I was trying to guess what the surprise was and this certainly wasnt it lol.
Thats cool though that you have found a way to rekindle your passion for what you do during the day. It shows that even working for yourself as a trader can turn into "a job". You gotta enjoy what you are doing and have fun or its just not worth it.
The passion in your voice sure was back that hadnt been there in this intensity for awhile.
you're the man DAN!!! Ever since I bumped into your blog over at informed trades (years ago now btw), you've always been putting your money where your mouth was and catering to those you REALLY want to get started with trading and the markets. I've always respected you for that and today is just one more example. Great job Dan!! I'm glad you're getting "revved up" again...a man needs a challenge indeed and what better way than through the CHALLENGE project!!! :)
Also do you think that in your posts and vlogs you could maybe talk more about and show us the way in which you strategically exit and shave off your positions and accounts to liquidation? I find that concept fascinating and would love to see and hear more from you about how you go about doing that more specifically.
As always thanks again man and rock on!! Looking forward to things!!! Hopefully you're going to Prague or something soon now too right?!?!!?
MT :)
Dan - that is awesome! :)
I remember Don Miller saying his transition to trading large block sizes was a way to keep himself interested and energized. It got me thinking that an even cooler thing would be if a seasoned pro trader would just trade a small 10k account. And you've read my mind, man!
This will be extremely interesting for me as I have an account almost exactly the same size as your challenge project. I look forward to the videos to come!
This is going to be great! This could potentially lead to bigger and better things. Airelon Hedge Fund LLC??
Making all your trades public might impose a different kind of pressure most of us don't deal with. I hope your ready for it!
I don't think he said anything about making his trades public. He didn't make his personal trades public before so I'm not expecting him to start now. I'm sure he'll keep us updated as to his progress though, and (hopefully) share some trades after they've been closed out. If I recall Dan's a wee bit paranoid when it comes to disclosing open positions! ;)
Hi Dan,
Just wondering if you
use anything other than think or swim
like quicken or something like that to
keep all your ducks in a row.
Or do you just use the good ol' pencil and
paper?
Just Curious,
r.k.
Heyya everyone,
I have tried my best to answer everyones comments and questions in this weeks podcast ...
Neesh,
Personally, I use Quicken software to keep track of the Quicken balances. I also use an OpenOffice spreadsheet to keep track of each trade for the Challenge Project, and the important money management statistics.
I hope this helps,
Dan
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