Underfunded to "properly" Funded

Ambush

Newbie
3 0
I've been facing a tough decision to be or not to be backed by outside funding. I'm sure there are many people out there in this situation. I also hope to make some good friends from this website. This is dedicated to my family and loved ones that have been very supportive of me. Thanks!

Let's break this down.

My choice: take trading on to "making millions"
I have goals to reach and I'm not going to reach them working for anyone for a thousand here and a thousand there. It's time to get big. And this is a choice that I have to deal with head-on.

Long-term goal: I want an orphanage with 12 - 120 children. I want to be able to raise these children and give them a good education. I was raised in a rough environment and am very blessed to know that truly anything is possible. Its time to help others experience the same.

To reach this goal I need to work hard but more importantly very smart. So, let me briefly outline the short-term plan.

For now, I will continue taking computer science classes while trading. My degree was in Psychology, which has helped me immensely. However, I want to take advantage of this time that I have. I don't have any children yet (not married either). The reason I chose computer science is because more and more I find myself stuck on a programming problem when dealing with my trading systems.

For this project, I have chosen to start with a very small dollar amount. That's usually how I like entering the market, with a "test". As time goes by I will add more money toward reaching my goals. So, in other words this journal does not reflect all of my trading. I will be mainly discussing trades regarding this fund. However, I will also be documenting other topics such as psychological aspects of trading, staying healthy to reach long-term goals, etc, etc.

Trading plan:
I will be starting out with "high probability" trades. This means that I will not be entering as much but my win-loss ratio will be high (70-90%). This also means that the per trade profit percentage will be lower in the beginning. Then after I build up some new equity, I will risk some of that by lowering the win-loss ratio closer to 50-60%. At that time, I will be taking on more losses but at the same time much greater gains.

Also, for the sake of the journal, I will also be documenting trading ideas, along with some of the reasons behind why I entered trades. I will try to post live trades as possible. But, I am not going to stress myself out over it. However, if I do not post them live, I will post either the trade blotter or a chart showing entry/exit, (or both) depending on where the journal heads. As much as I want to document the journal, I am not a teaching guru nor do I want to become one. So please excuse all writing errors. My main focus right now is trading and my classes.

If anyone has any questions please feel free to message me. I prefer PMs.

Disclosure:
Trading is very risky. Trading can result in losses beyond initial investment. This journal is to document my experiences and progress. And, it should never be considered trading advice.

Best to all of you,

Ambush
 

Ambush

Newbie
3 0
8/6/2013
first trade was a short
 

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