First I’d like to say a big thanks to the following for the information I’ve gathered the last 6 months, then I will get into the thread proper…
- Babypips - Fantastic Education section and forum
- VP (no nonsense forex) - Youtube channel & Blog with alot of good information and bones of a strategy
- Not another trading podcast - Sam & Josh are putting together a really good resource and are approachable & helpful.
- Dillon Grech - Helpful Youtube Vids, Discord Server and Tradingview indicators.
- Mihkel00 - Tradingview user & programmer. Handy all in one nnfx compatible indicator.
- Babypips members - @BenP @The_Baller @Trendswithbenefits & others for lots of good content and info
So about me…
I’ve been an electrical/electronics tech, Automation Engineer, Commissioning Engineer & a few other roles for the last 18 years. Starting in the RAF, moving into the Oil Industry and working all over the world.
It’s been fun, but all through it money has been like water through my fingers… lots of water embarrassingly.
Now I’m simply tired of being away and have spent the last short time accumulating some value in both Stocks and Cryptos.
It’s been a good year or two, and at the same time I’ve cut my outgoings massively enabling me to accumulate more.
What i realised though, I didn’t know what I was saving for… After some time I settled on what my goals were, then I wondered how to get there. After some time I formulated a plan.
- Financial Freedom - I’m in charge. Nobody tells me where to be, what to do, what to wear etc
- Time Freedom - No point having financial freedom, but working 150 hours a week for it!
How do i get there???
- Expenses - Cut bills and costs, stop wasting money. Create Free cash to invest.
- Investing - Invest in markets that are trending. Stocks & Crypto booming, take profits while going is good.
- Trading - Learn a skill that I’ll be able to reinvest Stock/Crypto Profits in to generate long term steady gains.
- Reinvest long term - Property/Dividend paying assets to reduce reliance on trading and earn when sleeping.
So my investing has gone quite well, having read a few books and learned to confidently know what I was looking for I was able to identify companies with good fundamentals. I’ve taken some profits over time and my portfolio is growing. This I know is also very much helped for the last 10 months by a market that has pretty much only been going one direction (this may be about to change, at some point it will).
Equity markets by their nature will always boom and bust, so this for me is a way to make hay when the sun is shining, and needs to be treated as a non permanent source of funds.
My crypto portfolio is growing nicely. However, we all know Cryptos are also boom and bust, following historic trends I’d expect the bull market to end and a large correction in Sept/Oct to expect to be taking profits in September or there abouts.
So that leaves me looking at other options, where does the money go when the Equities market slows? Where does the money go from Crypto? Currency. So i began my research.
Now I’ve always been one for a good strategy game growing up, playing probabilities and working out a strategy.
This lead me to finding Babypips, reading all the terms, looking if there was any way not so much to “beat the market” but to find an edge of some kind.
Algos, patterns… mind blown.
Demos… Brokers… Trading212, IG, Oanda… so many options.
And after quite a time I’ve ended up settling myself up an Algorithm on TradingView based on the NNFX principles. My Oanda Account setup and Funded.
I still have work to do on this, but I got a 14% gain in December, 15% in Jan and 17.5% in Feb in Demo.
I also have a Demo running based on @The_Baller journal, so far with a decent bit of unrealised profit.
I like the Risk Management part of NNFX so believe this will be more likely my main bread winner, but if i can run anything alongside it for extra cash and for interest I will over time.
So here we stand on the last day of Feb 2021 ready to make my first LIVE trades on my Spread Betting account tomorrow night!
I’ll go into more details about my Rules, my Strategy and a little about the Algo as time goes on.
I just wanted to create this first post, as much as anything to force myself to journal this journey.
I know it’s not a good idea to set myself tight goals, but my long term goal is to try to get to a point, with Risk Management, to a 2.5% monthly ROI minimum, with anything above that amount split between compounding the account and other investments.
Will this happen? Is it unrealistic? Will I far exceed this goal?
Time will tell!
Thanks for reading, and please feel free to give your 2c, guide me, tell me I’m being a ****.
Anything constructive, or simply a bit of banter welcome!