Day #23: a look inside my trading journal, & FIRE meetup
Wednesday, October 2nd, 2019
|Jasraj S Hothi||Oct 3, 2019||1|
I have a couple of exciting things to share with you today.
First of all, my trading journal. I started it this week and I’m loving logging my trades and slowly building up an archive I can look back on. I hope to notice trends and - most important - measure how I am doing. It is my intention to generate consist returns on my demo account, before I consider going live.
I am using a ‘marginal gains’ approach. For example, if one has £20 to start with, and each week grows the £20 by ~22%, and then takes that new ‘pot’ and grows that amount by 22% in week 2… and so on, for the whole year, i.e. a period of 52weeks… guess what? After 52 weeks, you’ll have £1million. Mind-blowing, right? Marginal gains are, like, amazing. And, yes, I’m not saying that - in practise - I will endure 52 straight weeks of consecutive growth, but that’s the sort of approach I’ll be taking here.
So, here’s what my Trading Journal looks like. I’ve already added extra fields and played around with colours and whatnot. It’s taking shape nicely :)
The second thing is, I went to a FIRE (Financial Independence Retire Early meetup), actually kinda by mistake.
So, I’m part of a community called theHumblePenny; it’s run by a guy called Ken and his wife, and I’m in their Facebook group. I’m actually doing one of their introductory courses to investing (this one) - it’s great! In short, FX aside, I’ve finally (it’s been on ‘my radar’ for a couple of years now) started taking action with this whole financial savviness/investing lark. I want to make my money work for me, I do not want to trade my hours for time, I want my money to make money, through various streams, and passively. (For me, part of that will be from my writing, and part of that from investing - in ETFs, stocks and - perhaps FX).
Anyhow, Ken said on the FB group that he’d popping to a pub this evening for a drink; I had mis-read his message, thinking that he was coming from a meetup when, in actual fact, he was going to the meetup… at the pub!
In short, it was awesome. I met some great people with similar values and who, too, are into things like personal development, doing work they care about, and with attitudes to money similar to mine. I even heard a couple of guys (Sak and Eric) who are ‘financially free’. It was very inspiring, and it was interesting to see that there is not one right answer to getting there.
As well as meeting some great people, myself and Ken left at the same time and we got to chat over a late-night pizza. Ken is great, and him and his story/blog are inspiring. It was great to meet Ken in-person and it feels awesome to be taking moves forward towards me becoming (financially) ‘free’.
Above: myself, Ken and pizza.
My mission is to be in control of my time and my energy (#introvert), and being financially free is a big piece of that puzzle.
I’m fully intending to go to the next meetup in November. Here’s the meetup page, and there’s also a London Facebook group - from which this meetup first started (there’ve only been 2 so far), below:
London Financial Independence Meetup Group -> over here
Financial Independence London Facebook Group -> over here.
Today’s been a good day, even if it’s been a long one and I’m no doubt going to have an introvert hangover tomorrow :)
Month 1, Day 23