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Thursday, March 25, 2010

Justifying the personal cheat

I am entering this entry from my iPod, sort of on experiment.

The personal cheat, to me, refers to me no longer doing my own work when it comes to researching, chart analysis and whatnot. My original goal was to do this mostly on my own.

So, am I cheating on myself?

Of the past two and one half years I have tried quite a number of this stock related, done a ton of reading, trials and trades. I mentioned to my wife tonight that I feel odd having absolutely nothing to do with trading. All I have to do is to watch for a few emails, log into the trading room for a couple of hours and execute a handful of trades each day.

This is so easy that it feels like cheating.

This is so easy that it must be too good to be true.

This is so easy and I will keep doing this as long as it keeps working.

I worked out what the services are costing on a monthly basis, including Optioneer data and my esignal charting that I have almost stopped using. Approximately $830. $500 of that is daytrading room fees.

GASP!!!

While that sounds rather high I have also clocked in about that in commissions in March alone. It is true that it takes money to make money. All of this is going to be covered through trading profits where in thx past I have just gone out of pocket considering it all as hobby expenses... although this will be the highest fee month yet.

Tomorrow I look forward to cheating the market makers out of more of their money.

Jeff.
Ultimately I am finding that these are going to be worth it in the end.

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