Okay, just to clarify, I’m not (insert your favourite expert trader here).
Quite the contrary, I’m a complete novice. I know jack-all about the markets – but I want to learn.
Ever since I was a child, I often (strangely) dreamed about trading the markets.
I tried to read derivative books when they started to gain popularity, but they were probably a bit too advanced for me back then (although you could successfully argue that they are still too advanced for most people).
After reading a few basic trading books, I finally dipped my toes in the murky green waters in November 2008, just after the global financial crisis (GFC) hit.
No, it wasn’t a suicide complex that prompted me to do so, rather the knowledge that the “I’m gonna” attitude often leads nowhere.
I made a few trades, and surprisingly made a little bit of money – enough to think I was the next big thing.
My trading strategy? Simply looked at charts and making a guess. Stupid, but it paid off.
However, as often happens, I got lazy, and on the next trade in February 2009 (AIO, I think), gave back my gains and then some. It wasn’t that I didn’t cut my losses (though I had been guilty of that previously), I had traded from the wrong account, and was using the bank’s money – hence the massive fine (not cool). Even worse, I watched AIO soar… I think it’s been up 70ish% at the time of writing.
I haven’t been in the market since then, deciding that if I was to do something, I’d do it properly (see, common sense does prevail).
As a result, I’ve been reading heavily on technical analysis trading books, going to meetings (no, not that type) and just generally trying to understand market movements and trading psychology better.
This blog is the lovechild of the above combination – it’s my way of being accountable to myself, to commit to becoming a better trader, and perhaps a better person (though that may prove to be a stretch).
I hope you can join me on this journey.
PS – black is my favourite colour, followed closely by British racing green.