Spending Money

Account Balance:  $11055.00

So, I have been able to generate $1000 of trading income on my $10,000.00 of initial capital.
I will reward myself by withdrawing $100 as my "income" from my trading account and use it to pay down the $10K principal + interest.  The goal for the month of November is to generate another $1000 of trading income,  which will allow me to withdraw another $100 from my trading account.  If things go real well, I'd like to withdraw $150 or more each and every month.  But first things first, and that is to reach my goal for November which should be doable - it took me 15 business days to generate the first $1000, and I will have 20 trading days in November to reach the same goal.


The 100% win rate did come to an end a couple days after I made the previous post.  Losing trades does negatively affect my confidence.  Winning trades only marginally improves my confidence.  The key to maintaining my confidence (and also consistency) is to follow the rules:

1) Always do my homework and plan out the price levels to take trades
2) Wait for the market to tell me what it is doing
3) Execute
4) Stay out of trouble - take losses early, and avoid taking any trades that are not part of the plan.

Flying Start

12 trades this week.  100% win rate.  Average win size:  0.91 points

So far so good, I feel good about these results.  At this rate I will reach my profit target in a couple of weeks.  The challenge is to remain consistent.

Borrow to Trade

I have borrowed $10K at 3.25% interest, and the goal is to use this money for short term trading with a target of $1200.0 net profit within 12 months.

The 3.25% interest is tax deductible.  Each $100 profit earned to be used to pay down the loan principal.  $100 net profit per month from short term trading is doable, but I will need to be patient and disciplined.  I need to first establish that I can consistently net $100 profit per month.