July 2016 Failure is not an Option!

Starting again, yes starting again.
I read a quote once that said, "The only people who fail are those who quit."
Of course, I have also read, "Insanity is doing the same thing over and over and over and getting the same results."
OK, I am guilty of both.
I keep persevering;  yet, I haven't changed my habits much.
However, on July 17, 2016 I am beginning another chapter of change.
OK, what am I doing...and how am I changing?
First, I am back into Stock Trading again.  I still believe that I can be good at this once I really learn and apply the instruction I have and now am receiving.  Application is the key, and eliminating emotion is essential.  Make my plan and work my plan.  I have signed up with Penny Pro and will link it for anyone who wants to join in.
So far - Steve and Jeff have reminded me of these things "essential" for success in trading;  and I will grade myself on each of these points for the past few years:

1.  Only trade with money I can afford to lose
      C - because I work own a business, I won't be majorly affected by my losses.
2.  Limit my trades
      B - due to my low level of funds in my account, I have always limited my trades
3.  Don't let my emotions get the best of me.
      D - truly an emotional person, and my gut wants to run my life.  Affected many
              trades, missing the profit and taking a greater loss waiting for the upturn.
4.  Cut your losses quickly.
      D - though I have gotten better at this, the emotional part of me has wanted to hold on.  Not having Level II or
               reading the Investor blogs has keep me too long in trades. 
5.  PLAN YOUR TRADE & TRADE YOUR PLAN.
      F - I rarely have planned and written down the plan.  So, being just in my head, it is forgotten when emotions
               take over.
6.  Patience, plenty of trades to come.
      B - I have patience, maybe tooooooo much....for when you run out of money by staying too
               long in a trade, you can't trade anymore. 
7.  Take the easy trades (five 10% compared to the one 50%) -- "Compound effect" rule.
      F - rarely have I taken on purpose 10%;  wanted the home run.
8.  Avoid dumping money into a bad trade (risks of double down)
      D - been there, done that.
9.  Don't trade blind (have level 2 and charts)
      C - had charts, but no Level 2
10. Don't trade just to trade.
      B - I usually am looking for the best trade, and don't just to do it...or feel I have to.

What's new in from July 17, 2016:
     * Taking classes again, but from Penny Pro and following their plan of learning.
     *  Signed up for Level II with my broker.  All starts July 17th.
     *  Having a plan for each stock and writing it down;  journaling my progress in a written diary
          which I will use to post on this blog. 
     *  Goal to make 5% or more a day from $ 500- which compounded over 1 month (20 days)
           would create a total of about $ 1325.00. My goal for July 31 is to have $ 815.00 in my
           trading account.   Taking the "easy trades."
           Goals (compounding with 5% daily) =  $ 2158   by August 31
                                                                                5717         Sept 30  
                                                                                15,158      Oct 31
                                                                                40,208      Nov 30
                                                                               112,875     Dec 31 ******* 
                       (PS -  will project a charge where I make 5% daily in July, Aug, Sept;  than 4% daily in
                              Oct;  3% daily in Nov.; 2% daily in Dec. -- just to see what that would create by Dec. 31) 
      *    Sticking to my "stops" when a stock goes down.
    
OK, this is going to be fun -- I believe.  Tomorrow....write down trades....    
  

The new baby Blog has a birthday, August 5, 2013!   Having signed up with a new Stock Alert and Training Service, Jason Bond Picks.com, I'm ready to try again.  It has been a rough go, learning about trading stocks and making a living out of it.  I have reasonable success, but not as consistent as I would like.  Since I run a business full-time, it's always been difficult to blend my trading stocks into the week.  However, I have continually been interested and committed to learning.  I am a slow learner who makes many mistakes, however, I realize for me, it's a marathon.

Each evening, I am going to retrace the day and report on how my trading went.  I plan on starting out mirroring my mentor, who has been very successful and extremely enthusiastic.  This is difficult for me, for I want to do it my way.  Can I release my will, to achieve what my heart truly wants?  This is the task ahead.

I have not, and will not give up!

"On the desert of despair lies the bones of those who, on the verge of victory, sat down to rest and died."  

What can be accomplished when I achieve success in this field?

1.  I can regular support my family in ways that show them I truly love them all.
2.  I can regularly express my thanks to my Lord Jesus through my finances.
3.  I can be free to serve people with my time.
4.  I can better share more resources with those in great need.
5.  I can release myself from responsibilities to share my talents in ways that influence others to  become better people.
6.  I can teach others who wish the skills and methods I have learned to become financially strong.

"Ten Commandments of Trading" - SUNDAY LESSONS

On this beautiful Sunday morn, I am up early and enjoying my cup of java - drinking in worship music - feeling the cool of the breeze - reflecting on the Tec's Top Ten http://tecnasty.com/Tec_s_Top_Ten.html :

1. TAKE YOUR PROFIT
2. TRADE THE CHARTS
3. REMOVE EMOTION FROM YOUR TRADING
4. DON'T MARRY THE STOCKS YOU TRADE
5. DON'T CHASE A RUNNING STOCK (or CATCH A FALLING KNIFE)
   
6. ASK FOR THOUGHTS, THEY CAN'T HURT
7. DON'T BELIEVE THE HYPE (or the BASHING)
   
8. SET YOUR ENTRY AND YOUR EXIT
9. PROTECT YOURSELF, SET A STOP LOSS
   
10. MAKE A CHOICE AND STICK TO IT

Though I cannot say I have completely been true to these "commandments," I am finding myself moving closer and closer conforming to them. For me, "removing the emotions from your trading" is one of the toughest. The key is to keep learning and weaving these into the tapestry of our trading quilt....and over time, with developed discipline to these principles, a profitable picture will be birthed. It does take work, and it does take experience!