My Journey to Financial Freedom and Success In Life

, I did not have the time to update promptly as I was busy with some personal matters.



Someone told me these in May:
a) Market is news driven
b) Market makers in Wall Street are moving money away to eg. big companies who have been there in the past and done that, where the profits really is etc.
c) Avoid stock which rely on US consumers spending as it is depleting fast

Any truth to these statements?

We are always second guessing..... what news next (+ve/-ve?)......., where are the money moving to eg. oil, commodity, forex etc etc......., Is Wall Street also affected by global spendings?.........

Sigh.

It has been a roller coaster ride since beginning of Jun. How much longer will this last? My guess is for a while longer.

But, really, I don't care anymore (there are no longer any fundamentals and increasingly technical analysis too).

So, I just have to learn how to pick up the profits and go. Who cares how the market is doing!! Selfish? Maybe?


- Dow Jones Industrial Average broke the 12,000 phychological barrier last week.
- Banks are potentially faced with more write off from the sub-prime crisis episode.
- Even giant like General Electric stock tanked.

Let me recap why I started this blog. To share with all my journey from how I started from scratch after leaving my full-time day job to create wealth thru multiple sources of income.

One quarter had passed since and how am I progressing? You decide as these are my achievements so far from 14 Mar 08 till today.



1) From my Equities Options Trading account, I withdrew US$5K in realised profits with another 45% profits being compounded into my existing portfolio
2) I am getting some advertisement income
3) I am about to complete my methodology and hope to sell it for $$$ and royalty fees

All these were my goals set when I attended the Wealth Academy programme earlier this year. Thanks to my group members and of course my gurus who one way or another motivated and spurred me on.

If you are new to my blog, please read my previous blog updates otherwise, this may not make sense.

Meanwhile, for those trading in the market, Trade Confidently and Wisely.

SWEET is the word.

Muaaah. After about 2 months of options trading, I have decided to reward myself by withdrawing my FIRST US$5K from my online trading account. It is like my first paycheck. Can you imagine the feeling? Hooray!!!

Also, on a brighter note, US economy seems to be less negative (note my choice of words here) with recent economic reports released.


- 3 major indices in US crawled up for 3 straight days last week although DJIA was down 134 points yesterday .
- Crude Oil price soften from high of US$135/barrel (but my guess is, it will never go back to the sub US$120 level)for the time being.
The US Commerce Department said on 29 May (Thu) that GDP grew at a 0.9 percent annual rate in the first quarter. That marked an upward revision from 0.6 percent rate estimated a month ago and an increase from the fourth quarter's 0.6 percent gain. That is 50% gain man. Ha Ha Ha, sounds like a very big margin but just a meagre increase of 0.3%
- My guess is Fed will increase interest rate soon. This will be good to curb currrent inflation.

All seems to be positive for the time being.

How am I progressing?




ANALYSIS

Goal #1:
Hope you like my more frequent updates now. Actually, when I was blogging, I chance upon this blog about airline crews. You may wish to take a look at it, quite interesting and juicy. Here is the link:Click Here


Goal #2:

I was more cautious the last 2 weeks so I did not trade much. But a surprising 20% is still not bad. Now, my account has US$5K less after my withdrawal. Well, at least I have a healthy portfolio with the $$$ I compounded over the last 2 months which allow me to own a basket of stock options. hehehe

Goal #3:
I started adding meat to my methodology. Completed my first chapter. I also consulted a few people to ask for comment. Looking forward to test is on guinea pigs soon.


So much about myself. How about YOU. Yes, YOU..... Have you acted yet? If not WHY? Here I go again, "only you can help yourself".

Meanwhile, trade WISELY and CONFIDENTLY.