My 2007 goal
I know we’re already 1/4 of the way into the year, but I’m just starting to post on this blog which I’ve had running for a long time. So, I thought I’d start with my 2007 goals.
This year, I did something I’ve not done before, I set out a clear goal for 2007 for myself. My goal is — master stock market trading and investing.
I’m pursuing this goal in earnest and what a ride it has been so far this year. I am actively trading in the markets now, though it is currently with very, very small amounts of money as I am still just learning.
My advice to anyone else who wants to start out and tackle this goal is this. First, realize that it’s not easy, but it can be learned. Second, start out with very, very small amounts of money. Third, make it your goal to to LEARN how to trade, not to make a lot of money.
When I first got started, I was really anxious and impatient because I felt like I had wasted so many years of my life not investing and I wanted to catch up and get started. That was an unwise emotion to start out with. It’s not a quick game. It takes a lot of practice.
If your goal is to make a lot of money, and especially if you have an impatient time horizon, you will risk more money to do so. If your goal is to learn to trade, you can risk very little and make very little, but at least you learned. Then, some day down the road, I will start stepping up the amounts little by little.
At least that’s my approach for now. We’ll see how the year progresses. One thing I can say for sure is this — I know about 100,000 times more now about trading than I did in December. So, in that sense, things are going well.