Avoiding burn-out

brettmaynard

Junior member
20 5
Dear Traders,

The need to make cash has been on my mind, I've been burning a lot without making much, but I was stressed and not really considering my personal finances.

I'm relaxing in North Wales after a hectic holiday in Isreal and Occupied Palastinian Territories. I will take the next 4-5 days to relax before heading back to Essex.

Once in Essex, I have a few things to take care of (who doesn't?) but I need to start generating some income. I will read the posts in the thread about New To Trading to see where to start (It is 20 years since I last traded shares). I'm a bit worried because one of my girlfriend'd Father was a keen private trader (very intelligent) and lost both his and his wife's pension trading shares, so I need to be careful, I am familiar with Risk Management - so should probably rely on my training.

Thank you for all your help. You have been 100% spot on to date.

Best Regards,

Brett
 

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brettmaynard

Junior member
20 5
Dear Traders,

I'm back in Essex now for the last couple of days and will stay here for atleast two weeks. I spoke above of risk management and think I'm making some good decisions. I'm going for minimum outlay/risk and maximum return. The two aspects I'm currently working on are :-

1) Home: I'm living in hotels at the moment, which is costing approximately £100/night. I have a garden flat in Essex with no mortgage. So I've reluctantly told the tenant I would like to move back into the flat myself. The current contract expires Feb/2020, but I have explained my situation to the letting agent and hopefully the tenant may find somewhere else sooner. Moving back into my own home will decrease my outgoings to £100's/month, give me a sustainable base to work from and provide me with good transport links to London and beyond.

2) Inheritance: My Father died in 2007 and I was not in good mental health since, however that has improved (since you told me to stay in Marriott Marble Arch actually) and I am now able to peruse his estate which could be worth upto USD$1,000,000. My mental health continues to improve daily, but to continue to do so, I must keep my stress low, therefore I am trying to seek the help of HSBC Bereavement Team at Canary Wharf and companies who feature on BBC1 daytime television programme Hier Hunters. Again it is a strategy of risk management, minimum outlay in hope of maximum return.

Thank you so much for all your help when I was mentally unwell recently. Advising me to stay at Marriott Marble Arch was just what I needed.

Best Regards,

Brett
 
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TWI

Senior member
2,527 252
If you want a lower stress approach and have around $1m to invest you may want to investigate tactical asset allocation methods for the bulk of the money and keep an account separate from that strategy which you can be more aggressive with. I would suggest you read Meb Fabers book Global Asset Allocation, its a free PDF if you go to his website. I would not however suggest investing in his funds, rather look at a site like Allocate Smartly and construct a portfolio which suits your risk tolerance. The most important thing is to get to the point where you are covering living costs and have some faith in consistency of return. The upside is determined only by your tolerance for downside and that is the brutally honest part. This is just my advice. I have been a full time trader for many years and despite some tough experiences in the past, today I live relatively stress free and have more freedom in life than most people I know. I wish you every success.
 
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brettmaynard

Junior member
20 5
Dear TWI,

Thank you very much for taking the time to send such a detailed reply. It is extremely good advice!

USD$1m is a lot of money. I only have about GDP£30k in cash and about £200k in assets (mortgage free flat), although I maybe coming into a lot more money soon by way of Inheritance, so I will look at your recommended reading incase the inheritance works out.

Thank you again for taking the time to send such a detailed and informative guide, it is very much appreciated especially from an experienced trader such as yourself.

I also wish you every success.

Best Regards,

Brett
 
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