Sorry for being so inactive, life has been a bitch and a half recently and I’m finding that staying positive and enthusiastic is becoming harder and harder. On top of regular work, I’m taking a semester of summer school to finish up college - I’ll be done in 2 weeks!!
School is a complete time drain. It’s the most irritating time drain in the world simply because I’m paying them, normally the other way around is well worth my time. With the end of school comes the prospect of having most of my time back. More time to dedicate to research, more time to dedicate to trading, more time to dedicate to DJing (did I mention I’m a DJ :P) - more time to dedicate to things that truly make me happy.
So with this in my future, why am I finding it hard to be positive? Simple, I’m broke. We called oil perfectly, we called DRYS perfectly but the one thing beyond our control is timing. One day after options expiration all of my plays hit, or at least would have shown a profit. I’ve been racking my brains for the past week trying to figure out a way to hedge against timing but this unpredictable element is just a bitch in nature.
So, with the brokerage account drained thanks to being off by ONE day and the bank account looking bleak as ever, I think massive change is in my future. This site was created to be a learning tool for readers and as a vehicle for J and I to note our trades. I’ll be dedicated to the success of this website until the internet ceases to exist but of course money is one of the most important things and without it it’s hard to, well, trade.
I’ve been mulling around the idea of selling my car and using half of the proceeds to start trading again. The strategy is going to be a lot more conservative with a focus on risk management and consistency, instead of naked positions relying on a one sided movement. Using simple strategies like strangles and straddles I’m confident I can rack up consistent gains, minimize losses, and use compound gains to my advantage.
Obviously, living without a car would be a huge disadvantage but I feel like a sacrifice has to be made on my part. If nothing else I’ll learn a lot by putting myself in a situation that most would consider absolutely nuts. But, what if this doesn’t work? Then I’ll be sending my resume out to investment firms in search of something that I haven’t needed in a long time: a full time job.
I am, however, excited the change will come with the release of BULLY BANK VERSION 2.0. The new site will have TONS more content, it will be more interactive and look a lot cleaner. It really is the next level manifestation of our vision for Bully Bank. I’m super excited about it and can’t wait for you guys to check out the new sections and of course, the new look :).
I’ll keep you guys updated on what I decide to do. As it stands it looks like the car is out (I’ll miss my beater, lol) but life is unpredictable.
Hope your all having a fabulous week so far.
Cheers,
Nik