Tuesday, 11 October 2016

End of Year Goals Etc

Overall very happy with progress since opening new account. I would say I have exceeded any goals/reference point I had in mind.
That being said, I have probably taken more risks than I would have foreseen.

Going into the last 2.5 months want to set an idea for where I want to be:
(1) First, and most important goal is to stay consistent. Something in line with last months result would be ideal. 1-4 negative days each month for the rest of the year would be a massive win. I believe I have already set the basework for this to be possible; and don't think it's unrealistic at all! To be honest I think it is possible that I have a month where I don't have a single negative day.
So to achieve this goal, need to follow the frame-work I have set - also ensure I do actually take stop-losses. Marginally late is different to not at all!

(2) Pay off the rest of loan that took to open new account. This should be easily accomplished by the end of the year with minimal results. However, it is definitely priority.

(3) Somewhat result dependant: Looking to get some money set aside for likely account topups after some losses. Ideal scenario is to get enough money away so that it equals account balance (aka a complete blowup, wouldn't be end of world). Don't think it's realistic to achieve this by end of year; but can make some headway.

(4) Further ahead (probably next year): Look to slowly increase size of account, and therefore max sizes. By this point will have put in months of consistency so incrementally increasing size will be smart. Am only looking to do this after months of consistency - absolute profit is not the trigger to begin doing this.
Maximum size will be increased in proportion to account size - which will be increased by a fraction of profits. (i.e. 1/3 profits go to increasing account size, 1/3 to alternative investments, 1/3 to backup funds).

(5) With travel on the horizon, will be looking to pay off student loan incrementally throughout this. This is lowest priority, but can be done in conjunction with other goals slowly.

So: It all comes down to being consistent!

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