Archive for October, 2010

Small Capital Project – September 2010

Sunday, October 3rd, 2010

Another month where we marked time.  I said at the outset of this project that day trading, fast though it seems to be, requires great patience if we are to achieve our goal. Now, eight months down the track, we’ve had a few slower months, and it would be all too easy to grow impatient and start varying from our strategy. 

It is important, though, to keep the big picture in mind. After just eight months in the market, we have a return of 73.2% in the pocket! It behoves us to trade carefully and maintain discipline so that we can conserve most of this gain through poor runs, and grow it quickly when the good times return.  (Using TradeOnAUTO software, I’m spending less than 5 minutes a day on trading, so I’m more than happy with the return on effort.)

In one of his many good trading books, Larry Williams made the comment that, in trading, "you never know when Christmas is coming!"  That is so very true…