The Beginning
The Rules
The Thoughts
There isn’t much suspense here if you have gone this far reading into my Blog. I have accepted his offer… but not without coming up with my own rules either.
I’ve learned a lot from different Day-traders by reading their Blog. Therefore, I also want to contribute to the Day-trade Blog community. In addition to providing a monthly profit/lost update to him, I also want to Blog my transactions and decision making processes for others to reference. But since I have agreed to keep his identity a secret, it doesn’t take much to figure out his identity from those who already know me personally. Therefore, in agreement to allowing me to Blog my day-trading, I have also agreed to withhold my identify from my Blog. Which eventually led me to come up with "Closet Daytrader" as my Blog's name.
I also told him that I have decided to trade “secretly” from work, whenever I could. My working environment allows me some freedom, to a certain level. Therefore, if I bring my own laptop to work, I can monitor stock prices and entry/exit opportunities throughout the day. I will sign-up for a wireless network card from a cellular company, so that I can get high-speed Internet access for my laptop while at work. I didn’t want to use the network connection from work, because I do already feel guilty for day-trading while at work. The last thing I want is to get myself into trouble by exposing myself via my work’s network. I don’t want my work’s I.T. department to pick up the streaming data and trace it back to me.
As much as I want to start right away, I told him that I don't think I can dive right into action immediately. I will need time to prepare myself both systematically, and operationally. It means that there will be changes to my daily routine, both at work, and at home. I need to do some research to find out which on-line broker best suit my trading style. I also need to find out what other trading aides are available to me. There will be a lot of work ahead of me and I cannot wait to get started!
Most importantly, if you have read this far... I want to assure you that I will try my very best to blog my progress!
Thank you for reading!
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ReplyDeleteSOunds like a great opportunity! I wish you luck...and a little advice. When you start trading trade lot sizes you are comfortable with...don't be afraid to take small losses before they grow. And don't be afraid to take small profits before they slip back to break even. It can be astounding how fast the little trades add up. Also...as far as a broker take a look at MB Trading.I have had them for 5 years and they are fantastic.
ReplyDeleteI had a similar situation to yours when a friend put money in his account (25k) and I traded it for him. I built it up to $145k in 6 months, and didnt trade for half that time much at all. I have a blog I started recently... dayandswingtrading.com You are welcome to visit if you would like. Good luck!!