I'm taking a mulligan
I'm starting over with the record keeping starting Monday, and no, it has nothing to do with my horrible month of September. Speaking of which, I got totally crushed this month. I managed to lose a not insignificant percentage while the market was up over 1%. I don't have my records here with me, but suffice to say, it was ugly. It took me all the way down to an average loss/month of about 1/4 percent. Yuck!
The reasons for my mulligan are:
1) I now have my trading account up and running, and I want to integrate it into the mix on equal footing. This is the most important reason.
2) I purposefully spent the first few months making major shifts in strategy. That led to some major painful losses, but it was also done on purpose, as I admitted up front this was something new for me and would be a learning process for a while. It was to be sure. However, I believe I now have the major issues ironed out and I have a strategy I'm happy with. Also, the portfolio is almost fully on plan with only a handfull of leftovers from my directionless past few months, and all but a couple of those either accidentally conformed to my current plan from the beginning, or have managed to maneuver themselves into conformity over time. I don't want the taint from the "old days" going forward.
3) My accounts are both fully funded, with only one spot open in my IRA. This is a very good starting point. I hate starting from scratch with oodles of idle cash counting against me. Raising cash during play is part of the game, but starting from scratch is a handicap for sure.
4) Nobody reads or knows about my blog anyway:)
So, I'm starting from the beginning starting Monday. I'll be spending time over the weekend building the spreadsheets I'll need.
Going forward, I think I'll be able to start posting charts! I stumbled upon a damn nice utility that I've been playing with for the past couple days. I think it is going to be a real winner. I'll tell all about it once I know for sure that it works. Hint: I found it on boogster's blog. Check him out. He's a good read.
I'm also toying with the idea of starting my own site and including a blog. I have other interests I'd like to incorporate into a complete site, namely poker and flying. When I'm not scanning for stocks or chasing the kids around, I'm hopefully flying a Cessna up there somewhere or playing poker. Anyway, I just find blogger to be very difficult for me to organize. Hard to describe, but it just fits like somebody else's underwear. See?
Oh, one more thing. I described my morning activity in an entry before I left for work. Later in the day I shorted HMY at 13.75.
The reasons for my mulligan are:
1) I now have my trading account up and running, and I want to integrate it into the mix on equal footing. This is the most important reason.
2) I purposefully spent the first few months making major shifts in strategy. That led to some major painful losses, but it was also done on purpose, as I admitted up front this was something new for me and would be a learning process for a while. It was to be sure. However, I believe I now have the major issues ironed out and I have a strategy I'm happy with. Also, the portfolio is almost fully on plan with only a handfull of leftovers from my directionless past few months, and all but a couple of those either accidentally conformed to my current plan from the beginning, or have managed to maneuver themselves into conformity over time. I don't want the taint from the "old days" going forward.
3) My accounts are both fully funded, with only one spot open in my IRA. This is a very good starting point. I hate starting from scratch with oodles of idle cash counting against me. Raising cash during play is part of the game, but starting from scratch is a handicap for sure.
4) Nobody reads or knows about my blog anyway:)
So, I'm starting from the beginning starting Monday. I'll be spending time over the weekend building the spreadsheets I'll need.
Going forward, I think I'll be able to start posting charts! I stumbled upon a damn nice utility that I've been playing with for the past couple days. I think it is going to be a real winner. I'll tell all about it once I know for sure that it works. Hint: I found it on boogster's blog. Check him out. He's a good read.
I'm also toying with the idea of starting my own site and including a blog. I have other interests I'd like to incorporate into a complete site, namely poker and flying. When I'm not scanning for stocks or chasing the kids around, I'm hopefully flying a Cessna up there somewhere or playing poker. Anyway, I just find blogger to be very difficult for me to organize. Hard to describe, but it just fits like somebody else's underwear. See?
Oh, one more thing. I described my morning activity in an entry before I left for work. Later in the day I shorted HMY at 13.75.
posted by mccrok @ 10:16 PM
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