Daily earnings YTD 2008, My Philosophy on this market.

Discussion in 'Journals' started by KINGOFSHORTS, Oct 3, 2008.

  1. So far I am averaging 635 a day trading (up days/down days averaged)

    For about 6 hours of work.

    I am very conservative with my work. I do not gamble, hedge any positions that might be a bit riskier and I will take my haircut quickly if I need to. If I take a loss I stop trading for the day and review my errors, how I went wrong and take notes. I keep emotion out of the trade and will not fall in love with any stock/position etc.. nor freak out if things seem a bit rocky.

    I keep a strong cash position as a cushion for my trading (when shorting etc..)

    Excess cash that is not used for trading goes to a long term investment pool, I always write calls on my pooled equities as a hedge if the situation calls for it, it provides cash used for reinvestment in addition to the dividends.

    I also live below my means, I do not like debt or leverage. so my debt situation is 0 other than the 4 years left in my mortgage(15 year loan). (I could pay the mortgage off but it would be a poor use of cash)