Archive for September, 2007

Your questions answered

Friday, September 28th, 2007

I am dedicated and have discipline, is that enough to succeed? Also I have problems with exits, it’s not fear or greed it’s just when to exit.

If we look at the first question, the name of the game is definitely discipline. When the Turtle experiment occurred several decades ago only some of the team chosen was able to satisfy the founder’s targets. The rest failed and it was a simple matter of discipline, nothing else.

As cliché as this sounds nowadays, I think we need to make sure we don’t see trading as the fun filled theme park it can sometimes appear to be. If you get the results you want from trading, then you can go spend that money at a fun filled theme park. Trading is just a means to get there and I have never found the act of trading itself exciting, I have always found it boring (as opposed to analyzing which I find quite exciting).

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Is your trading doing better than my….

Thursday, September 13th, 2007

Laundromat?

I decided I wanted to buy a Laundromat. I had $50,000 to spend and wanted to ensure it met the following criteria. Firstly, it had to be in good condition, and in a location where it will still be a viable business in 10 years time. Secondly, and more importantly for my objectives, it had to be able to return me a return on investment of 20% per year, over the next 5 years, and require no more than 1 hour of my time a week.

After searching for a while, I found a Laundromat in good condition and in a very nice location for $40,000. The books suggested that it actually made more than 20% per annum, in fact closer to 45%, but at the same time, it involved around 15 hours per week. The owner was providing a laundry service that took her approximately 15 hours a week and she was pretty much running the service, organizing maintenance and emptying the machines of their cash in that 15 hours.

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Be true to yourself…

Tuesday, September 4th, 2007

and you’ll find the edge.

I remember hearing him say ‘we’ve been selling this course for years and not one person has ever complained!’ Those are words of poetry are they not? It depends if you’ve been around the block a few times.

To cut a long story short however, this was not the case, because I had been in the trenches with many students of this course and found that although no one had the heart to complain, some were struggling.

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