In case you follow my blog and wondering why I am not doing any updates.
There are two reasons:
1. I am spending most of my time trying to work on the new site which will offer different calculators to help me with trading. I am trying to spend all my free time on the site.
2. As I am spending most of my time on the new site, I don’t really have time to plan for the trading and I am unable to trade. Every day morning, I log in to the chat and look at all the alerts but I have lost all the courage to actually do the trade and this is a serious problem. I am not feeling ‘sure’ about any trade. May be it is because I have not prepared? May be it is because I have a winning streak of 7 trades and I don’t want to break it? I hope it’s not the latter because that would be a serious problem.
Anyway, you must check out the chatroom. There are plenty of good alerts going on and you can make some serious money if you are prepared.
Did I mention that the ‘Oracle’ Muddy and the awesome Laura has linked to my site from their Dark Side Trading Blog? Thanks guys, you rock!
On a related note, I was reading Kirk Report. He did 74 trades in whole of 2007. 74! He is a full time trader and he did only 74 trades. I am trading since 2 months and so far I have done 32 trades. Am I overtrading?
RJ.
11 responses so far ↓
1 iL Torello // Dec 2, 2008 at 3:38 am
RJ…Always nice hearing from you!Pretty cool find on the Kirk Report.
2 Greg // Dec 2, 2008 at 11:24 am
Kirk isn’t a trader much anymore, more of a blogger/writer these days.
3 Charlie G. // Dec 2, 2008 at 4:22 pm
Looking forward to the new site. I have been following the Kirk Report for a couple months. It’s crazy that his entire track record for those years is under 100 trades annually. I recently signed up for the $50 as a member, and I do get the impression that he is more active than 74 trades a year, because he has numerous portfolios. I may be wrong, and haven’t poured through the member site archives but it appears he does more trades than that – BUT the lesson / point is the same, he made a boat load of green on that list of trades.
4 YngvaiMalmsteve // Dec 2, 2008 at 9:18 pm
There are some really good traders out there who trade very little…they wait for perfect or near-perfect setups. Marcel Link talks about this in his book “High Probability Trading.” He knew one trader who traded very little compared to the others. The others made fun of how little he traded and how picky he was, but he actually performed better than all of the other traders.
5 YngvaiMalmsteve // Dec 3, 2008 at 3:42 am
Hey, RJ, I created a Correlation Calculator for Stockfetcher. It’s posted on my blog
6 Ron // Dec 3, 2008 at 12:20 pm
Hello RJ,
Look forward to the new calculators.
I mainly read kirk report for the links
have a good day
Ron
7 Charlie G. // Dec 3, 2008 at 9:27 pm
RJ, I poked around the Kirk Report’s website a bit and saw a post where he said in 2007 on average he spent 27 hours a week blogging and only 1/2 hour per week trading. He planned this year to spend more time trading and also focusing on increasing his results, which he wasn’t pleased with! I think there is still a lesson here that you can be precise and lean with a trading strategy, but it does sound like only making 74 trades in one year was very much a function of having a very popular website (and his posts are very long and well written!) Looking forward to your new site and your reports on your trades.
8 Adam // Dec 5, 2008 at 11:49 pm
RJ congrats on the 7 straight! great work and even greater returns! cant wait to see the new site
-Adam
9 johnnyvento // Dec 11, 2008 at 12:19 am
I noticed he made half his year profits from trading one stock (QLD). I suppose being able to trade a few well has its benefits.
10 Jeepee // Dec 27, 2008 at 1:29 pm
Hey Ramta, its been a while since I posted as well. Been trading cautiously after a few setbacks, but I am back. I intend to get more serious day trading in 2009.
Anyway I wanted to wish you a Merry Christmas, as Succesfull New Year and good luck in all your undertakings! JP
11 goodluck // Jan 4, 2009 at 3:08 pm
good luck. are you still developing the web site? how’s it coming?
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