Wednesday, October 28, 2020

Reaching Further in Life

It looks like I'm getting used to staying in any volatile market with its high and low cycles now. I have been honing on when the right time to exit the market is, whether with some profit or taking a loss. It's starting to become more apparent with my routine analysis as I risk really small to try to improve on my accuracy. Once I'm ready, I plan to start scaling my investments. Since I'm doing swing trading for my speculations, I don't really need to stay in the market for a really long time in contrast to how I'm investing in the majority of my stocks. 

I read a book a few years ago by a self-proclaimed millionaire trader. He said that it's good to combine trading in mainly stocks, options, and Forex to become wealthy. This is where I see myself going eventually too, but for trading in stocks and options I'll just leave it to some pros I've chosen to hold my hand for a nominal fee.

I really think my main specialty in  trading deals with Forex. Currently, I'm combining it with a stock portfolio and have one losing options trade. It's all dealing with calculated risk and I've found out that I'm going to need bigger capital than $6000 to make some reasonable option calls that my service provider is recommending weekly. I'm going to have to wait for that someday by saving more and continuing to invest in cheaper stocks.