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It’s been a while since I posted to AtticManTrader.Com. The first quarter of 2010 has been an absolute rollercoaster for me. My mind has been on many many things and although I’ve kept an eye on the markets, I’ve not been in the right frame of mind to trade.
Now that’s not to say that I have not been busy on various business related activities! As you may know if you’ve visited www.AtticManTrader.com before, you’ll see that I started developing a section on ProBlogging. The idea of developing this section was pretty simple. I wanted to offer a similar level of transparency and honesty around the development of an online business. There’s currently not much content in this section (Ok, Ok, I’m intrinsically lazy….) – but I aim to change that – I’ve been working with a couple of small business owners on developing business models focused on the monetisation of websites. This is not a new area – infact, some may argue it’s becoming over-saturated. However, we will be recording our findings on a new blog that we are currently setting up. I don’t want this to deflect from the focus of this blog, but given it’s part of what the AtticManTrader is working on, it feels the right thing to do to blog about it.
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Hi Dan,
Good to hear your update. You might have written it somewhere in your blog posts that I haven’t read, but what is your long-term goal: do you prefer to build something more tangible and only use trading as a way to accumulate initial capital; or your goal is to build a trading business?
I have been trading options exclusively for almost a year now and had my ups and downs. Recently I have more and more convinced myself to develop a written business plan for my trading – so I am back to learn from your “template.”
Hope all is well!
Stephen Mao
Hi Stephen,
Thanks for dropping by. When I set this website up, my trading goal was to become consistent and to then build a capital base to enable me to trade for a living. My style as a trader lends itself to strategies that can deliver 20-30% returns per annum, which although pretty good (based on commercial returns) means I need a trading account of at least 200k, and probably nearer 300k in order to make this viable.
I’m currently addressing this ‘lack of capital’ with a couple of other business ventures!
It’s really great that you have decided to focus on creating a plan. Treating trading (or indeed any money making venture) as a business, is really the only way to make it successful. Good luck in the development of the plan