Trading History Up 20 pips but still a loss
December 8, 2005 by Trader Rich
I’ve been keeping track of all my trades on this site since November 29th and it can be viewed at any time at My Trade History.
Since then, I’ve really been learning thanks to what I’ve read and from all of your comments. Since 11/29, I am actually up 20 pips but down $ -10.02. I know this is not good performance but I was blowing through my account last month.
Unless I can consistently be profitable month to month, I won’t even think about quitting my day job. That is why I am now going to set a quit day job date. This will be the day that I finally feel comfortable with my income from trading and the day I will quit my day job. OCTOBER 1st, 2006. I don’t know how realistic this is but that’s what I’m shooting for.
Who’s with me.
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I’m right there with you, Rich… learning all I can, learning it as fast as I can, testing it obsessively. I plan to quit my day job through this as well, and where I’ve always wanted to (for me that’s Ibiza) as my income will no longer be tied to local clients but can be produced anywhere with an internet connection. Let’s test the power of focused, group manifestation, shall we? (Check out Eker’s “Secrets of the Millionaire Mind”.)
I’m right there with you, Rich… learning all I can, learning it as fast as I can, testing it obsessively. I plan to quit my day job through this as well, and where I’ve always wanted to (for me that’s Ibiza) as my income will no longer be tied to local clients but can be produced anywhere with an internet connection. Let’s test the power of focused, group manifestation, shall we? (Check out Eker’s “Secrets of the Millionaire Mind”.)
Andrei, how have you been doing trading and how long have you been doing it?
Andrei, how have you been doing trading and how long have you been doing it?
I’m one step ahead of you on that one Andrei, trading from tax free Panama for 2 years now. If the book you mentioned is a lot like Napolean Hill’s “Think And Grow Rich” I have that as a pdf for anyone interested… Ibiza! Cafe del Mar here I come!
I’m one step ahead of you on that one Andrei, trading from tax free Panama for 2 years now. If the book you mentioned is a lot like Napolean Hill’s “Think And Grow Rich” I have that as a pdf for anyone interested… Ibiza! Cafe del Mar here I come!
I AM WITH YOU!! Go for it, i say… Who doesn’t want to quit their day job.. Like u, i have that as my aim as well. But of course, as u say (wisdom is wisdom after all), i too, am going to wait until i get comfortable with my [b]performance[/b] (something i will have to think of as measured over time - and not exactly over “performance” outright) and income from trading before i finally do the “quit” thing.Go for it!! I wish u well.
I AM WITH YOU!! Go for it, i say… Who doesn’t want to quit their day job.. Like u, i have that as my aim as well. But of course, as u say (wisdom is wisdom after all), i too, am going to wait until i get comfortable with my [b]performance[/b] (something i will have to think of as measured over time - and not exactly over “performance” outright) and income from trading before i finally do the “quit” thing.Go for it!! I wish u well.
Rich, I’ve traded securities for about 4 years now (actually trading, as opposed to sitting back and “investing”, which I did for some time before that and always to the same result - one bad day wipes out 2-3 years of gains); but I’m relatively new to Forex. I started reading heavily about it about 6 months back, and about 2 months ago moved off of a demo account to a real one for the first time. The main thing that got me was the volatility - I can make in a day in Forex what I make all month on stocks, and with far less capital commited. Some things from securities certainly translate over (like technical analysis), but it is also a unique beast requiring it’s own strategies as well. So learning right along with ya!
Brian, Panama is tax free?? Do you actually live there, or do you use a broker based out of there? Man, counting the days… I think leaving the States will be even more freeing than leaving the job. I loved Hill’s book! “Millionaire Mind” is certainly in the same direction, but especially the second part of it gets quite specific with differences between how rich people think vs. poor and middle-class. I caught myself on more than a couple of them, and am working on establishing new patterns. I’ve come to the conclusion that just as important as building up your vehicle (for some a career/job, for us our trading skills), is the internal work. You can start earning more money, but to keep it and become richer you need to be a different person than you were when you struggled. Otherwise you’re just going to struggle at another level. Yeah, I miss the breezy mornings chilling at Cafe Del Mar (don’t miss the tiny $8 Cokes though). The Blue Marlin was one of my favorite hangs… there’s nothing quite like having a DJ spin while you’re laying on the beach.
Jeff, best of luck to you, man… may we all walk off our jobs together, then!
Rich, I’ve traded securities for about 4 years now (actually trading, as opposed to sitting back and “investing”, which I did for some time before that and always to the same result - one bad day wipes out 2-3 years of gains); but I’m relatively new to Forex. I started reading heavily about it about 6 months back, and about 2 months ago moved off of a demo account to a real one for the first time. The main thing that got me was the volatility - I can make in a day in Forex what I make all month on stocks, and with far less capital commited. Some things from securities certainly translate over (like technical analysis), but it is also a unique beast requiring it’s own strategies as well. So learning right along with ya!
Brian, Panama is tax free?? Do you actually live there, or do you use a broker based out of there? Man, counting the days… I think leaving the States will be even more freeing than leaving the job. I loved Hill’s book! “Millionaire Mind” is certainly in the same direction, but especially the second part of it gets quite specific with differences between how rich people think vs. poor and middle-class. I caught myself on more than a couple of them, and am working on establishing new patterns. I’ve come to the conclusion that just as important as building up your vehicle (for some a career/job, for us our trading skills), is the internal work. You can start earning more money, but to keep it and become richer you need to be a different person than you were when you struggled. Otherwise you’re just going to struggle at another level. Yeah, I miss the breezy mornings chilling at Cafe Del Mar (don’t miss the tiny $8 Cokes though). The Blue Marlin was one of my favorite hangs… there’s nothing quite like having a DJ spin while you’re laying on the beach.
Jeff, best of luck to you, man… may we all walk off our jobs together, then!
Andrei, i think so long as u “realize” (ie, withdraw - correct if i am wrong here) ur profits in the US, there will be some sort of a tax regulation on it. And yes - Panama is tax free to my knowledge.
And yes, may we walk off our jobs together!!
I must say, though, u probably have a mighty good platform to learn from for ur 9-to-5…
Andrei, i think so long as u “realize” (ie, withdraw - correct if i am wrong here) ur profits in the US, there will be some sort of a tax regulation on it. And yes - Panama is tax free to my knowledge.
And yes, may we walk off our jobs together!!
I must say, though, u probably have a mighty good platform to learn from for ur 9-to-5…
Yes Andrei, I do live in and trade from Panama - I use the 3 flag rule of the Perpetual Tourist: 1. Be from a Country that won’t tax you when you are away (that includes Canada but not US) 2. Invest in a country that does not tax foreigners: all my trading is done through the US - they don’t tax foreign investors other than dividends- I therefore don’t trade dividend paying stocks. 3. Live in a country that does not tax income made outside of that country - like Panama. (US citizens can get a +/- $75K deduction when living offshore but can only go back 35 days a year, Canadians can go back 6 months less a day/year and still pay no tax) btw, did I mention how hot it is today?
Yes Andrei, I do live in and trade from Panama - I use the 3 flag rule of the Perpetual Tourist: 1. Be from a Country that won’t tax you when you are away (that includes Canada but not US) 2. Invest in a country that does not tax foreigners: all my trading is done through the US - they don’t tax foreign investors other than dividends- I therefore don’t trade dividend paying stocks. 3. Live in a country that does not tax income made outside of that country - like Panama. (US citizens can get a +/- $75K deduction when living offshore but can only go back 35 days a year, Canadians can go back 6 months less a day/year and still pay no tax) btw, did I mention how hot it is today?