Sunday, January 1, 2012

2011 Year in Review

What a great year 2011 was. I'm looking forward to 2012 being bigger and better...

EDIT: At the time this blog entry was posted I had a Youtube video here. That has been removed but I want the rest of my content to be remain. Nothing hidden no past mistakes ignored. All out in the open.

Whether its investing or forex trading, I had two common themes in 2011 that kept coming up over and over.

One was portfolio management. Setting up the structure of the accounts and the rules in how money will be used and stored. I've tried using the "pile of cash" method where everything is in an account and you have vague ideas of what amount of money does what. It just didn't work for me primarily because without a high level of structure like I have with the Model Portfolio... its hard to take oneself seriously. Are you wanting to run your portfolio like a business or is it just a hobby? Neither is right or wrong but you might get different results from the two.

The other common theme of 2011 is psychology. As I mention in my video on psychology of emotions in finance, those that are successful in the markets do not have some superhuman ability that allows them to run a 4 minute mile or other feat of strength. They know what to do and when to do it. That "it" is what we need to learn and I believe it to be a control of emotion and a deep understanding of oneself.

These two themes will continue to be important ones as they will be my keys to success.

Disclaimer: The investments and trades in my videos and blog entries are not recommendations for others. I am not a financial planner, financial advisor, accountant, or tax adviser. The financial actions I talk about are for my own portfolio and money and only suited for my own risk tolerance, strategy, and ideas. Copying another person's financial moves can lead to large losses. Each person needs to do their due diligence in researching and planning their own actions in the financial markets.

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