The Longevity of a Trading Blog

Koi, Photo by DanCentury

I'll get straight to the point. I want to make sure that this blog has longevity. By that I mean that if you were to come read one of my blog post one year after it was written, it would still be relevant. There are so many blogs out on the web that post 'daily market updates' or 'recommended stock picks' and they are easy enough to find. I don't want this blog to become a blog where each post has a limited shelf life. If you are looking for a daily market analysis, I have posted some links (on the left side) with good blogs that have just that type of information.

Over the life of the ProfitMonkey blog, I hope to cover topics on combining fundamental and technical analysis and how best to bring these to types of analysis together for investing success. From this same perspective I'll cover some additional important topics:

1. Elliott Wave principal;
2. Understanding trends;
3. Trader and investor mind set;
4. Behavioral economics;
5. Trading plans;
6. Trading styles;
7. Managing your money;
8. What's important in a balance sheet;
9. Managing emotions and admitting when you're wrong - accepting failure;
10. The simplicity of market movement;
11. Don't panic - the importance of patience when trading;
12. Why timing is everything;

If you have any other questions or ideas that you'd like to see on the blog, comment below and I'll add it to the list.

Trade well,

Dan

My Opening Gambit

Photo by JasonBrown2013

This blog has been around for some time in some iteration or another.

I've had some trouble trying to figure out what this blog's niche could be so that it doesn't just end up being another blog analyzing the markets, giving stock picks or just being simply generic. I have read so many technical analysis blogs and frankly, I'm bored of them. There must be hundreds if not thousands of these type of blogs. So what can I do differently... Well, the answer is, not that much, but I can try to be as useful giving my opinion on the markets along with some techniques that I use to be a successful investor.

I say investor for a couple reasons:

1. Although I have tried my hand at day trading, I have never been successful enough. I know when I've been beaten so I have moved on.
2. I do trade stocks, options and futures, but I hold positions longer than a day. I have found that holding trades longer produce better returns/results with lower risk. I consider myself more an investor than a trader, although you could make the argument either way. I'm no Warren Buffet.
3. I use both fundamental and technical data to make my purchase decisions. Fundamental (and other macro) data often drive the decision to enter the trade while technical data is very useful for timing an entry and exit.

One final idea that I believe will provide the niche I'm looking for here to answer a question that I repeatedly get from friends who don't trade for their own accounts. "How do I get started trading stocks or options?" Trying to answer this question has been tricky and I feel that there really isn't a single resource available on the the internet to answer this question simply and clearly and without bias. I'm talking about breaking things down to their absolute basics and that is what I hope to accomplish. Whether I succeed remains to be seen, but I'm willing to give it a try.

I expect to be writing a blog post 2 or 3 times a week to start and then see how the blog evolves. Along the way, feedback will always be welcome and I'll make efforts to integrate ideas and comments as they are added by readers.

I hope this blog will become a useful tool for any trader or investor as a repository of knowledge and information; helping each individual on their own unique journey to profiting from the financial markets.

Trade well,

Dan