First and Foremost I would like to thank the administrator's and everyone who helped make this forum such a great place for beginner's and seasoned trader's alike, Thanks! It's people like me who greatly appreciate's what I learned from this site and it's because of this site I've learned a valuable lesson I believe I will take with me forever until my days end. And That is by helping others because of the ones who paved the way by helping me. This probably is the only website I have ever been to where I gained a fortune! But not with cash or currency, but In Value. Until I came across this forum, I was always real shrewd,shallow and cold hearted to my fellow man because Thats just what life had given me. So in essence, I was just giving it right back! But It is, here where I learned How to "Fish" instead of having someone else fish for me. And With My Deepest Appreciation I will "continue" with the tradition of helping others as others here and in life has helped me.
With that being Said I hope this thread will be a Rosetta stone for new beginner's to help manage and organize their portfolio as well as a how to guide for money management. Consider this a portfolio management tool because I am welcoming everyone "Including Myself" to leave their comments about their own portfolio management tools,techniques,plans etc..
here's an example of what I use;
1) Regardless of account size, divide the balance into five (5) equal parts.
Consider these 'sub-accounts' within one larger account and treat them
as such.
2) STICK TO A TRADING PLAN REMEMBERING NOT TO INVEST NO MORE THAN U COULD AFFORD TO LOOSE AND WHAT U CAN AND CANNOT AFFORD TO INVEST.
This will prevent you from 'loading the boat' in one market move that may
not be as profitable as others and to help you from going broke on one trade.
3) When a trade is closed, ADD THE PROFIT TO THE INITIAL AMOUNT AND
REINVEST
THE ENTIRE NEW BALANCE IN THE NEXT ENTRY (this way you are
compounding
profits trade to trade).
4) Continue until 'sub-accounts' have reached short or long term goals. At this point, add
sub-accounts.
Initially, Having a Trading plan that has risk management,trade management and having a proven strong profitable plan will always help build your portfolio!
With that being Said I hope this thread will be a Rosetta stone for new beginner's to help manage and organize their portfolio as well as a how to guide for money management. Consider this a portfolio management tool because I am welcoming everyone "Including Myself" to leave their comments about their own portfolio management tools,techniques,plans etc..
here's an example of what I use;
1) Regardless of account size, divide the balance into five (5) equal parts.
Consider these 'sub-accounts' within one larger account and treat them
as such.
2) STICK TO A TRADING PLAN REMEMBERING NOT TO INVEST NO MORE THAN U COULD AFFORD TO LOOSE AND WHAT U CAN AND CANNOT AFFORD TO INVEST.
This will prevent you from 'loading the boat' in one market move that may
not be as profitable as others and to help you from going broke on one trade.
3) When a trade is closed, ADD THE PROFIT TO THE INITIAL AMOUNT AND
REINVEST
THE ENTIRE NEW BALANCE IN THE NEXT ENTRY (this way you are
compounding
profits trade to trade).
4) Continue until 'sub-accounts' have reached short or long term goals. At this point, add
sub-accounts.
Initially, Having a Trading plan that has risk management,trade management and having a proven strong profitable plan will always help build your portfolio!
Comment