njrookie's random thoughts
A collection of my posts on investment, trading, and life...
Pretty much all cash now for trading and 401k account. So it is ok to recap for the year.
1 trading - Much more careful with money for most part of the year after last year's huge draw down. Got overconfident and became fearless in Dec in front of FOMC and turned a great hand into a losing trade due to bad risk management. Gave back a big chunk of money and also caused a stressful weekend. Ended year up about 130% for a mid 6 figure account. Could be worse if LD did not drag me to UT/AZ for the summer. I am sure I would have scaled in too early. Plan to keep 10% of family asset in this category for active trading. But will raise more cash outside trading account for emergency.
2 first time ST 401k accounts for a few rounds. Very limited choices. Ended up with a 6% gain for the year across all accounts. Base is much larger now. So even small % gain can make some difference. 30% of household asset is here.
3 RE - close 3 THs and 3 SFHs with cash, including two bought inside Roth IRA accounts. IRA has its advantages and disadvantages for RE investing. One more SFH scheduled to close in Jan 16, also in Roth, after which we should gross 25k rents per month. Net is about 1/2. No longer qualify for loans or credits. RE is tying up 60% of our money.
4 Raised over 100 chickens and ducks this year, not counting those hatched and sold as chicks. Two incubators. Getting really skilled in butchering / plucking birds. Planning to hatch and raise ducks for meat and eggs next year.
Overall an OK year. Family networth up about 30%. On pace to (at least have the option to) leave W2 in 3 years. Still need to tighten up risk management for 2016. Patience is a virtue. Also plan to lengthen trading time frame and also management 401k money more actively based on intermediate time frame views. Plan to sell 2-3 SFHs to release liquidity / raise cash as well as to reduce risk exposure.
Wish the best for all TT brothers and sisters for 2016.
Just my 2c
