Trade The Journey

Trade The Journey

Think First before you move!

Welcome to Better Financial Times if this is your first visit. Welcome Back if your returning — peace, and prosperity to everyone reading and realizing that both are the result of your actions.

If what sounded like a Rant or complaint came across in my previous post, my apologies, I’m usually reserved. Nothing agitates me more than self-created problems or expenses.

When trading/investing, you have to remove this limiting thinking from your perspective, or you’ll meet your doom at the hands of bad memories. In this realm, the market is always right, and all of your mistakes are self-created even if their not.

I mean you still lose money if you’re wrong, right?

To add from Mark Douglas, if you broaden your expectations of what could happen, then you’re always right.

It takes a conscious choice or a higher awareness to accumulate money and ultimately, wealth. A lapse in judgement, lasting no more than five seconds could destroy it.

I say this not open old wounds but to inspire everyone to operate with purposeful cautious intent including myself. With economic uncertainty increasing and the whispers of a looming recession growing louder, the economy could take a turn for the worst.

The economy hasn’t fully recovered from the “Great Recession” and is being propped up by temporary support (debt). Unfortunately, the United States economy is based heavily on consumer sentiment and spending.

So watch the news but listen to the conversations of the people. You don’t need expensive indicators or a professional with a nice suit to help forecast and prepare for the future.

Case in point, Peter Lynch, who reguarly earned close to a thrity percent return annually, made some of his best selections sitting on a bench at the mall. He would observe the mall traffic and select businesses based on the traffic to be researched at home.

Moving along, all is well on my end. You may have noticed that I’ve taken a break from blogging about technical and financial analysis for the time being.

I’ve delved into both forms of analysis to understand better how a stock’s price moves. Ironically, neither has provided a direct path towards the unlimited profits as I had hoped.

Identifying a pattern on the chart sounds great and even looks better when highlighted on a chart. The question you could present to the writer is how many of those patterns did you find in real-time?

After the fact, everyone has the answers and reasons why their plan worked. In my short experience, very few of the systems that are promoted as a consistent generator of revenue seldom work for everyone.

Most times, that particular person may have found a system that works for them. For example, I may have an edge in supply chain management knowledge due to work experience in the field.

With my experience in supply chain management, I have identified an edge that could be profitable in numerous sectors. However, how likely is it that I can recall all of the information I know?

Not likely. I may be more apt to describe a remedy of the potential problem Walmart is facing without fully detailing why it is occurring.

How did I do this week?

I would save about average. An interesting experience occurred:

A family member found an envelope containing money and a letter detailing a pledge to make the right decisions. At first glance, they thought it was a letter I had written, but it turned out to be my sister.
After being told up of the mix-up, the family member replied, “I should have known you didn’t write that letter, you’re tight with your money.”

I replied, “I am sure am.” Interestingly enough, I did not find it the least bit offensive even though it was intended to be.

Why?

Because I am comfortable with who I am and I am frugal. Although this family member may see me as being cheap or tight-wad, I’ll always have money. What they don’t know is that I have no problem spending money. I’m careful about how I spend money because too me its a resource.

If you want to find a faster way to reach your credit limit and accumulate debt, believe that you only live once and should enjoy the moment.

You do only live once and you should enjoy the moment but let your actions and thoughts demonstrate that, not your wallet.

This week I’d like to give myself a “B”. I’ve saved a lot of money by purchasing the items I enjoy and frequently use from a wholesale retailer.

Eager to complete my monthly cash flow statement from the previous week. Results posted next week.

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