About
Welcome to the blog for moolala.org, my personal site covering my foray into stock trading and other money making adventures. I am a discretionary trader utilizing the impulse system and 3Ms as described by Dr. Alexander Elder in his book “Come Into My Trading Room”. I am a software programmer by day. And I like to think that I trade stocks whenever I am not working or spending time with my wife and daughter.
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Jim Cramer’s Real Money: Sane Investing in an Insane World by James J. Cramer |
I became really interested in making my money work for me (stock trading) because I was tired of only getting the 5-10% returns that my Vanguard index fund and my PayPal money market accounts were returning. After I started watching Jim Cramer’s Mad Money and reading his book in the spring of 2007, I decided to take the plunge and deposit a couple grand into a Zecco trading account that summer.
At first I did okay following what I had learned from Mr. Cramer; however, as we all know, the summer of 2007 through the spring of 2008 was not particularly kind to amateurs, professionals, and corporations alike (think housing and financial firms). Despite being down a bit, I decided that I could weather the storm. And I did–with the help of Dr. Alexander Elder. Well, not him personally, but his books: Come Into My trading Room and Entries and Exits.
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Come Into My Trading Room: A Complete Guide to Trading by Alexander Elder |
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Entries & Exits: Visits to 16 Trading Rooms (Wiley Trading) by Alexander Elder |
I am still not completely practicing the 3Ms that Dr. Elder teaches, but I am getting better. My main struggle is with record keeping and money management, specifically setting stops and cutting my losses. I know I am not the only one who has a hard time with money management, but that is no excuse. This blog is part of my attempt to keep better records through action plans and thought analysis. Also, I am writing a desktop software to help me keep better records and maintain a better money management system.
Note: I am in the midst of switching servers, so I have temporarily created this blog on WordPress.com. I normally would use Drupal as my content management system, but WordPress will do as I get back into blogging. It has severed nicely for the last few posts that I had done from Windows Live Writer.
