Well howdy do everyone and how are you doing?! Well it really has been ridiculously long since our last post together, and most of you probably think I have given up trading all together or disappeared! Well I haven’t given up trading and I certainly haven’t disappeared either…..well well well what have I been up to then you ask?!!
Well….Ok enough of the “Well” gags!…
The good news is I haven’t given up trading and I NEVER WILL do either as it is a passion of mine that I am studying and want to do tremendously well at and I will… Oh dear think I’ve spammed myself by now! Oh well!!! lol
Since moving house and home in February of 2016 this year, I had an eager and over exaggerated dream that trading would explode into success easily and I would be making consistent profits day in day out!
What I didn’t take into account was that although my dream was and still is going to happen, I failed to be realistic about it all and here’s why:
So Here’s Where I went Wrong
I started out my OptionsXpress account with just over £2000 which was equivalent to a little over $3000 when I opened my account in late 2015.
My biggest mistake was not taking into account my every day and monthly living expenses as well as the cost of moving house which is certainly not cheap, but is very exciting I must say 🙂
So because of my living expenses I annoyingly had to take all the money out of my account in the end which left me with no money to trade with properly at all 🙁
So basically I’m back to square one financially, but boy have I learned a lot!
Yeah But This Is What I’ve Learned From This Chapter
Yeah it is frustrating when things don’t go to plan, but through mistakes I learn something new every time which gives me the experience and realisation with what to do better, improve upon and/or change.
Depending on trading money to support me and my girlfriend(Oh yeah forgot to mention I’ve met the girl of my dreams, but that’s another story!) is not advisable at all, which has been a very good learning curve for me as for one; it puts far too much pressure on trying to trade, and two; relying on this is a sure way to take too high a risk with trading.
This Is What I’m Doing Now
So with the realisation of trying to trade with no actual income coming in from anywhere else and having to pay for living expenses and bills, I had to look for a real job again!!!
Oh Nooooooooooooooooo I failed forever and I can’t trade now because I’ve got a job again!!! Total nonsense! You on;y fail if you give up or don’t change for the better.
Well I applied for a job at Waitrose and got accepted, woo hoo! 🙂
Waitrose is a bit like Publix for you americans, but way better…… because they’re British and very nice 😉
So anyways I now work about 20-30 hours a week delivering groceries for customers which is very ideal as I will still have plenty of time left to trade and Live Life decently while I build up a steak to trade with and grow it into a monster steak :p
Of course the downside is that I will be paying for bills mostly with my earnings from working for Waitrose, but I also have a plan B which is coming together nicely.
There’s Now A “Plan B” Too!
Besides working for Waitrose I am also building an affiliate website on a particular topic in the outdoor niche which will earn me passive income once It goes live. It has nothing to do with trading at all, but like I’ve said before, I am an entrepreneur and will make a go at things that I am very passionate about.
With the money earned from my passive blog minus bills and expenses of course I will leverage it to trade a little more aggressively as it will be money that I can afford to lose if things goes wrong.
With an engaging quality website, people are making decent money every month whilst just maintaining the website a few hours a week. Don’t believe me then check out this website that professionally sells websites for people.
I have actually built an affiliate website before and made a little bit of money on the side, but I never worked hard enough to scale it out into something really decent and big. My sites were always small and neglected you could say, but the last website I built was making around $30-$50 a month which I know is nothing to shout about, but then the traffic it was receiving was also very small with approx 200-400 people visiting it per month.
So I am now super excited at building a monster website in my chosen niche, but I won’t reveal the topic as I want as little competition as possible of course! Sorry to disappoint, but I’ve seen it happen before where people have revealed their website and then a load of copy cats come along and ruin it all! Once it goes live I will however post all the earnings and expenses of course and commence trading again.
I am very excited to start trading again and also can’t wait to get my new website live and make a decent passive income while I sleep. If I can make around $2000 a month eventually with this new website then that will be awesome money to trade with and multiply!
As well as trading penny stocks and binary options I also want to get into the futures market which I intend to do. Until I have a decent steak back in play to trade with and I’m on top of my living expenses and bills I can only work hard at Waitrose and build my website into a monster for now.
Here’s What I’ve Learnt In A Nutty Nut Shell
- Don’t trade with money if you have ZERO income coming in.
- Don’t trade with money that you CAN’T afford to lose.
- Don’t put all your eggs in one basket!
- You MUST be able to pay bills with other money away from trading.
- Leverage money from income you CAN afford to lose if things go wrong.
- Love what you do OR where’s the fun in that!!!
So with all these great lessons and the long absence of our fun posts We’ve come a long way, but this time away from the trading world by gaining valuable motivation and other useful skills to boost us to the next level.
While I build my monster niche website and enjoy working for Waitrose I will keep things posted here with useful and fun information where I can.
There’s a reason why I put the Warren Buffet quote at the top, and although I’ve got a job again this does not lose my vision or dream as to what I want to do with my life in the long run of things. I have to say though that working for Waitrose is actually really good fun and they’re a lovely bunch of people where I work as well as an excellent company that look after you, which I never thought existed in the job world!
So while I build things back up again, I am technically starting from the beginning again, but this is all good though as there are loads of valuable lessons that have been learnt.
So moving on lets make waves and keep site of our dream to ultimate freedom by just taking one step at a time 🙂
On a final note the other valuable lesson I’ve learnt is that although trading is fun, living a life and enjoying everything else that you do is far more important! In other words don’t become addicted to trading by trying to trade every day from market open to close. Just be a part time trader when the time is right and enjoy the beauties of Life to the full with your family and friends 😀