Trade The Journey

Trade The Journey

Weekly Progress: Where yo Money At?

Hello to All – Hopefully enjoyed the fourth of July, I certainly did. On a side note, what a brilliant move by the great Jerry West to secure both Kwahi Leonard and Paul Geroge.

 

He played the situation beautifully. I knew the Lakers would have some challenges when he signed on as an advisor for the Clippers. Along with the Lakers, he also engineered the Warriors championship era. But I digress.

How did I do this week? I want to say pretty well compared to the previous weeks’ lack of money management success.

I held my discretionary expenses to a minimum and reinvested back into my business. While typing, I noticed that I neglected to mention my credit health in most of my previous posts.

I’d say that my credit health is improving monthly.

 

Credit is an invention that I despise with each passing day. To keep stable cash flow in some of the previous months, I used my credit card. I kept some of the expenses on my credit card.

 

This credit cards’ initial purpose was to improve my credit score. The card helped me to improve my rating and now its time to move on. However, I won’t close the account after paying down or off because I’ve had the card for years. Canceling an old card could hurt my score. So most likely I’d keep the balance to a payable minimum each month.

 

I may stop using it completely.

 

As I skim through the different credit cards available, my eyes go first to the fees and then the rewards.

Since I’m looking to improve my rating, I think that a card with limited fees and good rewards/cashback program would be a good idea. Low financial pundits recommend using a credit card to pay monthly bills, and some don’t.

I use it to pay some bills which I may change in the future. This may not be the best idea because you are indeed hampering your future cash flow if you begin to miss payments. But you do receive cash back while improving your rating if you can manage to make the payments on time. This is one of the many suggestions, use with caution and your discretion.

 

In investments, I did purchase a stock for technical reasons. The fundamentals I have to admit I did not adequately factor in. This was purely a technical move. The one thing I didn’t thoroughly think of when purchasing the stock was an entry and exit point.

I just entered into the position. I also did not fully appreciate how stable the stock was which means I won’t profit from any immediate volatility. Entering the position, I focused on the upside. I did not factor in volatility.

I’m interested to see how the stock moves this week. The problem I foresee is that this will turn out to be a position that needs to be held for much longer than I anticipated.


The results are predicated on earning an enormous profit but on learning how to play the market with real money involved. Paper trading just doesn’t work me. So far, I think I checked my paper trading account once in the last two months. My real account, once a day.

Surprisingly, I made a small profit on the stock. Purely luck. Oh Yes, luck exists in the market but don’t ever confuse it with skill.

This weeks grade is a “C“. My goal this week is to make sushi my only food purchase.

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