I’m going to try something I haven’t done since maybe 2012-13, which is to grow my money by trading actively.
I haven’t done much active trading in close to two years, because I don’t have the time I used to, to devote to watching the market swings and making calls, neither am I as free of responsibility as I used to be. These days I’m almost always busy, and with active trading you need lots of time to stay on top of the markets and your trades.
However, I miss those days when I’d swing a trade over a weekend for 40%, or short a stock and lock in close to 150% in a week. It came with pretty hard losses too but overall, you made money faster and the payoff was more visible. I want to try it again.
I’ll create a new account with $500 which is money I won’t lose sleep over in case of a total loss. My goal is $5,000 by March, without adding any additional capital to the account. I’ll document the entire process on here, with screenshots (where privacy allows) and analysis. It should be a good enough learning process for those of you who aren’t familiar with trading. In the event that I’ve lost my touch and I lose everything, you’ll also see it in real time.
I will start it at the end of this month, to give myself a few weeks of catching up to learn the process and my instruments again, since I’m very rusty. Long term investing affords you the freedom to not keep up with the markets every single day, and it’ll take a bit of time to get back in the flow of things.
Watch this space.