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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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Struggling to pull the trigger?

Friday, August 31st, 2007

Even when everything lines up?

A friend of mine, David made an interesting comment, which is not unique, I’ve experienced it and so have most other traders. He said, “I see a set up I like such as a hammer and everything else lines up, but I just don’t have the balls to pull the trigger”. I proceeded to tell him why this occurs, and I hope it will make a difference to his trading.

Pulling the trigger comes with a variety of emotions, and I’m sure you know what I’m talking about. One of the more powerful emotions is fear, and this emotion alone will prevent traders from entering a trade, despite having everything line up, exactly how they’d like it.

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Try not to focus on having to be right

Tuesday, August 21st, 2007

Trading the markets is a learning game

Are you one of those traders who always needs to be right? Maybe you’re like that in most areas of your life. Novice traders fall into this category more so than any other level of trader. The need to be right stems from not being able to accept criticism, and this stems from having an emotional attachment to criticism.

Think about this for a second; our desire to be right all the time most likely came from our earlier years where we were taught that mistakes are wrong. The biggest problem with this way of thinking is that there is an emotional attachment to the mistakes such as feeling inferior or inadequate. Because of these undesirable feelings, we strive to be correct all the time.

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The tale of 100 traders

Friday, August 17th, 2007

How long can you hold on for?

100 traders were given a stock pick from a highly reputable trader/advisor. The pick came with entry price, stop loss and method of trail. [His accuracy in the past made him second to none, however very few of his clients can make the sort of returns he does, even though they follow his picks religiously.]

Of the 100 traders that entered the trade (all at roughly the same price), only 5 went on to make double digit returns, and only 1 went on to make a triple digit return. 50 broke even, 40 lost money and the remaining 14 had mixed results but all were less than double digit returns. So what happened?

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Win a complete trading system course

Sunday, August 12th, 2007

Here’s your chance

The Dow30 (DJIA) presented a perfect short trade on the 9th on the hourly chart.
What presented as a trade began forming around the end of July and the 1st of Aug, and made its final completion on the 8th where it said to me, Dean, here is a possible short.

I want you to go to the hourly chart of the DOW and tell me exactly what it was I saw. If you can do that I will give you a free copy of my book, the Financial Market Fisherman.

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Trading does not have to be a lonely business

Tuesday, August 7th, 2007

Seeking support from friends

You may have heard before, trading can be a lonely business. But this can depend on whether you choose to do it alone or whether you choose to seek support. For many, trading will be a lonely business, and also a very frustrating one.

Seeking support from others is actually a natural process, and also a reciprocating affair. You should seek others support with the intention of having a mutual friendship, but also to make yourself accountable.

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The Stock Markets Tumble

Friday, August 3rd, 2007

Did you see it coming?

I would like to ask any reader if your intuition predicted either of the following; the sharp drop in the major indexes, the sharp rise in the US Dollar, or the sharp rise in the Japanese Yen (unwinding of carry trades)?

Intuition is our most powerful sense, it enables us to read someone’s energy frequency (good mood/bad mood), before they even walk through the door. It also gives us the ability to assess and analyze a situation at a sub-conscious level before other factors become involved.

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How to turn $20,000 into 1 million

Saturday, July 28th, 2007

In less than 6 years!

I witnessed an interesting experiment the other day using an compounding calculator. The presenter started with $20,000 and compounded it monthly, starting with 2%, and showed that it would take 16 1/2 years (199 months) to turn that 20,000 into 1 million. At 3% it took just over 11 years (134 months), 4% 8 1/2 years (101 months), and at 5% it took just 7 years. Nothing new here.

However the presenter then added an extra element or dimension to the calculation, and that was - additional periodical deposits. Here is how it went; starting with $20,000 and compounding monthly at 2%, and adding $500 a month from another source, the 20,000 turned into 1 million in only 13 1/2 years, 3 years less than the example above without the periodical additional deposits. Depositing $1000 a month, compounding at 2% a month, the 20,000 turned into 1 million in only 11 1/2 years. In fact, if you take $20,000, compound it at 5% per month and deposit $1000 a month on top, you’ll turn that 20,000 into 1 million in 5 3/4 years, or just 69 months.

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Forex

Friday, July 20th, 2007

The Biggest Market On Earth

Forex is the common word used for Foreign Exchange, and is sometimes referred to as FX or Currencies. In the Futures markets currencies are bought and sold like any other commodity, but in the FX market, they are exchanged with each other, hence the term Foreign Exchange Market. This post will look at the Foreign Exchange Market.

If I am in Australia and I wish to buy US dollars, I will sell AU Dollars in order to do so. Therefore, I become a participant in the FX market. FX participants vary and may include tourists, shop owners, tellers, importers and exporters, banks and other financial institutions, fund managers, traders and investors. The FX market is open 24 hours a day and starts in New Zealand at 9am Monday morning their time and finishes the week in New York at 5pm Friday EST.

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