Thanks for sharing your experience with us on the forum. Yes, we can learn from each other's positive and negative outcomes. It is that critique and documentation that enhances our skills if we learn from them.
Investing is a serious activity. We have managed to make learning more fun and profitable. I laugh at myself when I think about some of some of the stupid mistakes I have made myself. Responding to emails have help me realized how common those mistakes are. I'm not alone!
Where do you find the time to answer all these messages? I'm working now, but hope to retire soon and do this as a sideshow.
It has been a while since I discussed my story of how I got started with this vision for this forum. I got a divorced a few years ago and purchased my ex's 50% share in the property. Four years later I sold the property and had about an $8,000 profit after paying commissions. I looked at my career and life and pondered on two possibilities.
1. The first was going back to school for my doctorate in educational administration. That track would cost me about $12,000 in tuition, books, etc. and three years of very hard work after a full day's work. We are basically talking about 7 days a week of on task book work. Upon earning the Dr. in front of my name in business circles I could expect maybe a $8,000 to $10,000 year pay raise perhaps 5 years down the road after the start of that journey!
2. The second was to apply the same personal effort and a research approach to learn how to successfully invest in the stock market. In other words, my final research paper or outcome would be the fact that I could successfully invest in the stock market myself and teach all others to do the same.
Well, you know that I went choice #2 and it was the startest move I have ever made. The extra degree would never have earned me what the stock market has provided and will continue to provide well into my retirement years 17 years away.
I reasoned if I'm smart enough to earn a doctorate degree I should be able to figure out what smart investors do. I tried many trading styles after reading several books and subscribed to many monthly newsletters with trading recommendations. I learned something from each and how and why they did what they did! I documented those features.
Now, it occured to me that the best way to learn something is to ask those who successfully have done something. The more people that confirm that technique the higher the probability that it would work for me! Hence, this forum has been a sounding board and research lab.
The flip side is also true. Look at what people do to lose money and just don't do that!
The neat part is that every reader of this forum who tries W.I.N.S. and succeeds will become a dependable reader and team player. That is, they usually email me in private and say thank you and tell me something. Heck, if people say they are successful then the information works. There is always room for improvement and may readers have made those suggestions and I added or modified the information. In other words, we are partners on this forum. My interest to make every reader a successful investor in order to tap their brains. I have not invented anything new other than to re-arrange old ideas that are out there! We have some exceptionally bright individuals willing to contribute. I would trust them over any stock broker, commercial book, or mutual fund manager.
The W.I.N.S. approach has evolved from covered call writing which is touted as being very conservative. I have to laugh about that statement. The books never talk about how to do CCing. There are some very good web sites with a break down of high % in premies and provide trading rules. "Necessity is the mother of invention." I love it! Humans can develop and design tools. Today's market place is violent and internet trading makes it a new ball game.
In short Johndee, I'm not married, I don't have kids, I have been blessed with a good career which I enjoy and good health. I make my own time and this is a priority in my life right now. I like to complete what I set out to do.
Thanks for your participation! Wishing you the "best of good buys!" |
