(06-04-2021, 12:42 PM)Real-Me Wrote: [ -> ]I'm just about to start my own OF journal this evening so I enjoyed reading your experiences so far.
With regards to investing I would get a copy of 'The naked trader' by Robbie Burns (Its entertaining & full of the basic info you need to start investing (you can read a sample on amazon or google books) & if you are serious about investing consider subscribing to a service such as Stockopedia.
Hey @
Real-Me thanks for reading and enjoying my journal mate.
Ok ill definately look into that book, I appreciate the advice. Stockopedia ok thank you.
I have a question for you, @
Shannon, @
4Kingdoms, @
CatMan and anyone else that knows about all this but ill ask it in my post below.
Also @
Real-Me good luck with OF and ill be reading your journal too.
17/180
Day 17 ON - Friday June 4 - ON #2 - part 3
2 things:
1) I forgot to mention but earlier in the day I lost my cool but it was brief and short. I was speaking to my mum about dads dangerous behaviour in the garden and called him somethng I wont repeat. It wasnt a swear word or anything of that kind but yet it was disrespectful and derogatory and I tried to control myself yet it came out. Mum was fine about it but I wasnt and I guess still not as he doesnt deserve any of that from me even though he didnt hear me say it as I was inside the house.
2) I just had an argument with my bro. However I was in control more than I may have been otherwise and I didnt actually feel he was able to get under my skin so much as he usually can. Once I physically was away from him and the kitchen where this verbal argument took place I still felt unaffected though I wasnt at all pleased. I hope that doesnt sound like a contradiction though.
I have managed to do all my packing for my trip and I am being more productive it seems but the real test again is once im at uni do I procrastinate or not.
I also have a book I will be taking back with me that is kind of a handbook of all things I need to check and know for my future profession and I opened it and suddenly found what I was looking. A particular piece of information that I never knew anything about or heard of for over 2 years that others around me at uni seemed to have so it was amazing to find it but also not feel any fear about it. The fact I even opened anything was good enough for me when I would probably avoid it until I had a reason/deadline to both.
So from my last few posts some of you have kindly given and shared information regarding share investing as im literally illiterate in all this.
So I have a question for you all what about forex trading? I am always hearing of forex traders that have made a living and a very good living from this. So what do you know about this? thank you
I've given you the pointers I thought were worthwhile to get going, but I can't tell you what to do. You have to look that up and decide what you think for yourself. I am not a licensed financial advisor. Sorry.
That last post definitely sounds like OF at works.
As to forex... that's more on the gambling side of things than the investing side of things, so unless you don't mind losing your money to learn how to do it, and then potentially still losing your money... or buying and holding for a good trade regardless of the time it takes... be very careful with it.
I know a lot about FOREX. Incredible money can be made in it. Insane losses can also occur. Like most things...
It's insanely advanced. Don't even think about it, if you didn't even know what paper trading is. Which is indicative of you not knowing what you're doing, so it's dangerous to invest at that point.
If you're still going to uni...it sounds like you don't have much money for investing to begin with. Probably not a good idea to dabble in it until that situation changes. I tell people to have zero debt BEFORE they ever consider investing. Sounds great to invest and "get 7% per year return while my debts are fixed rate at (insert below 7% rate here)"...until a market correction happens like we've seen recently. It ruins people every time...but yet some still try to think they're special...
Doesn't seem like you have the temperament for investing currently. A lot of anxiety about things in general, investing requires a strong stomach and resistance to irrational emotions from others in the market, as I said earlier. Maybe after uni, and you're debt free, established properly, then it could be time, after OF V3 excavates enough stuff.
You seem to need to learn what you're doing first anyway. That's all the advice I can give you without sounding redundant or going into granular detail in what I invest in which I won't do. Different investment threshold, different risk tolerance etc.
All the best.
I love the advice Catman! Great stuff.
(06-04-2021, 09:37 PM)Shannon Wrote: [ -> ]I love the advice Catman! Great stuff.
I also totally agree with Shannon & Catman you have to learn as much as you can before jumping in the water ...and also be very aware of your own emotions when trading.
(06-04-2021, 06:15 PM)CatMan Wrote: [ -> ]I know a lot about FOREX. Incredible money can be made in it. Insane losses can also occur. Like most things...
It's insanely advanced. Don't even think about it, if you didn't even know what paper trading is. Which is indicative of you not knowing what you're doing, so it's dangerous to invest at that point.
If you're still going to uni...it sounds like you don't have much money for investing to begin with. Probably not a good idea to dabble in it until that situation changes. I tell people to have zero debt BEFORE they ever consider investing. Sounds great to invest and "get 7% per year return while my debts are fixed rate at (insert below 7% rate here)"...until a market correction happens like we've seen recently. It ruins people every time...but yet some still try to think they're special...
Doesn't seem like you have the temperament for investing currently. A lot of anxiety about things in general, investing requires a strong stomach and resistance to irrational emotions from others in the market, as I said earlier. Maybe after uni, and you're debt free, established properly, then it could be time, after OF V3 excavates enough stuff.
You seem to need to learn what you're doing first anyway. That's all the advice I can give you without sounding redundant or going into granular detail in what I invest in which I won't do. Different investment threshold, different risk tolerance etc.
All the best.
Wow great advice @
CatMan thanks bro! When I am ready however what or where is the best place to learn?
thanks @
Shannon and @
Real-Me too. Just when you see so many on youtube etc claiming to be making so much that they are financially independent or living a grand live it does become appealing.
18/180
Day 18 OFF - Saturday June 5 - OFF #1 - part 1
I managed to fall asleep around 6.30-7am earlier than the day before.
I woke tired but not as too tired.
I remembered the dream I had and made a conscious effort to actually replay it so that I could share it. Is it relevant or sub related I have no idea at all but here are what I can remember and can share clearly.....
So I was flying a 2 winged old fashioned bi plane. All I remember is I would fly in the streets of an average town and then in a park. I would sweep low to the ground then pull up and fly. I cant recall much else.
Next I was at a party and met a guy who was a swinger and young and seemed a little childish. I then whilst mingling met his parter who I ended up grinding with and she was happy to fuck me there and then but I felt reluctant, not sure why either i didnt fancy her or something else but my morals or something kicked in.
Next her man as a joke pretended to be a person with some disability and approached a trio of old women grey like the woman/grandma in the tweety and sylvester cartoons for money whilst winking at us. I was amazed at his acting it was funny as it was obvious how well he was doing it.
Anyway they caught his was a con and 1 of them chased him down the hallway as we all watched.
That was it so wanted to share.
I will try to log on and share anything else of importance but as im flying I may not be able to log on as such until early next week but will try.
18/180
Day 18 OFF - Saturday June 5 - OFF #1 - part 2
some things I forgot now remembered.
I woke at some point within an hour I felt fear and anxiety i think about returning back to uni etc.
I also am out of it. My mind feels ok but physically im tired and my sis said I seem to be out of it today like a zombie not fully alert. I do feel this and since i recall the dream perhaps I woke up during deep sleep.
(06-04-2021, 11:01 PM)Real-Me Wrote: [ -> ] (06-04-2021, 09:37 PM)Shannon Wrote: [ -> ]I love the advice Catman! Great stuff.
I also totally agree with Shannon & Catman you have to learn as much as you can before jumping in the water ...and also be very aware of your own emotions when trading.
This is another great point. I experimented using paper trades and small amounts ($20-25) and found that evert time I traded based on thorough research and understanding I was making money and every time I let myself buy or sell based on emotion I lost money.
(06-05-2021, 08:18 AM)Shannon Wrote: [ -> ] (06-04-2021, 11:01 PM)Real-Me Wrote: [ -> ] (06-04-2021, 09:37 PM)Shannon Wrote: [ -> ]I love the advice Catman! Great stuff.
I also totally agree with Shannon & Catman you have to learn as much as you can before jumping in the water ...and also be very aware of your own emotions when trading.
This is another great point. I experimented using paper trades and small amounts ($20-25) and found that evert time I traded based on thorough research and understanding I was making money and every time I let myself buy or sell based on emotion I lost money.
Paper trade is done via the virtual market on an app is that correct?
and how do you research and what is it you research or how can a novice like me learn this?
18/180
Day 18 OFF - Saturday June 5 - OFF #1 - part 3
I have been extremely tired and exhausted ALL day today. Literally not been this tired at all during the last 18days and dont recall being this tired in the last 2-3months for sure.
I am very very tired.
--
Tomorrow begins day 19 and 2nd day off then no more 3 days off but 2days on.