Good thoughts and massive amounts of positive energy are currently being directed toward MAXIMUS and his family.
In his absence, I have been asked by the good folks here at iBC to serve as his replacement. As is my custom, I plan to do so with honor and will give it my best to do an admirable job.
Without a doubt, 2012 was my shittiest year as a trader/investor (since I started in 2002). Unfortunately, this stark reality has led me to reevaluate my strategy. Often, we need the taste horrendous defeat in order to learn more about our weaknesses and how to best combat them in the future.
As I have (painfully) discovered in 2012, my weakness lies in the options market. I gained a false sense of confidence through making my 2011 by successfully trading options in August and September.
In 2012, I have repeatedly been gouged by taking on positions that I should have just let be (or traded the underlying). Therefore, in 2013, the number one change to my strategy is simple (in practice): NO OPTIONS. Ever. While the allure of making 500% on a weekly options trade is strong, I WILL NOT get sucked into that vortex in 2013.
Going forward into 2013, I am going to use this forum to run a model $1million portfolio (which will mirror what I’m doing in my actual portfolio). My performance goal will be simple (well, simply stated): a 2% monthly return. I will delve much deeper into ‘what to expect’ in an upcoming post.
Follow along and enjoy the ride (or mock me, if that is your thing).
Comments always welcome.
My best to you all.