Very happy to read this. Now go trade like you can and make yourself some good dough. Remember to stick to your rules!!
Hi, Neke, It is probably a nice way to go, but you probably can kiss your goal goodbye now if the risk is limited to 6K.
From Neke's post......... "Risk will be incrementally sized up as performance improves, and a buffer appears."
This type of trading is vastly similar to the style of trading I did about 15 years ago. I made enormous gains and losses. In the end, for me, this type of trading could not make a career so it was eventually put to rest, and I trade entirely differently now.
It is tax deferred - you are taxed when using the money during your retirement period. Not untaxed. Positives - You don't pay taxes on the money until starting withdrawal. - You don't have to turn in reams of paper accounting for each and every trade - if you are making money, the money grows at a faster rate than if taxed yearly. Also, you can actually start a withdrawal plan when younger - details are available from the govt/knowledgeable financial advisors. Negatives: Losses cannot be claimed and as said above, early withdrawals are hit
Without knowing how you "trade now" and how you "traded then", being this vague does not make sense and is not of much help to neke or anyone else following neke's journal. It is vastly similar how? You went for large gains? Had large losses? Averaged down? Kept a public journal? Had a similar account size? Traded similar equities? Used similar money management? Aggressively sized up? ???
i can PM some stock if you want with technicals and if you do not like it u dont buy here is one NEU... nice head and shoulder possibility of touching 95 or higher
There is no Holy Grail when it comes to trading. Most people understand that fortunes are made in decades of hard work and then can be lost overnight. 1. Preservation of capital 2. Managing the fear and greed 3. Discipline 4. Commitment to self education 5. Understanding psychology of the market 6. Understanding yourself 7. Realistic returns 8. Enjoying trading