Most readers know I started 2017 with an account of $110,000. Also, most readers know I had a nice year! I started 2018 with a similar starting balance having removed a little over $50,000 from my account. I’m not, and never will be a big money guy. I need enough money to take care of my family, enjoy some of the nice things in life, have security and be a little generous with family, friends and charities I believe in. That’s it! That’s my life! My daughter is a CPA, my son is a Lieutenant with the FDNY, soon to be a Captain. They are both educated and they are both doing great in life…according to my standards lol. They might feel a little differently! Maybe they would want a little more. Me, I believe in a little struggle in life. I don’t mean struggling to eat. I mean keeping your thinking cap on, working a little harder to get that better car or bigger house. Not having large amounts of cash thrown at you. Being proud of what you did and appreciating what you have, knowing you worked hard for what you have. This is my life. I’m not “Mr Wonderful” who can’t get enough. He, and many like him will know one day that money isn’t everything. We will all face a time in life where money cannot buy us happiness or more time. You could have asked Steve Jobs that. He said, “I would give all my money for someone to take my disease, I cannot find one taker.”
Why am I writing about this? Because I’m trying to explain that money isn’t everything. I’m trying to explain why I removed $50,000 out of my account. My goal is to be successful at whatever I do. I can get the same successful feeling starting with $100,000 as I can with starting with $200,000. To me it’s all about the challenge. I’m a grandfather! At this point in my life I don’t need the extra risk and stress. I want the challenge of turning $100,000 into $200,000. I feel better having a little nest egg. Having said that, let’s take a look at my 2018 starting balances.
My figures are accurate but not exact. The figures below are screen shots of my account balances, and they were taken while the market was open. When the market is open the figures are always changing because I have multiple position and they fluctuate.
I started 2017 with $110,000. I wanted to start 2018 with a total of $120,000 in the market. This $120,000 is a combination of my trading account and my “Gift Account.” If you’re not familiar with my gift account I will be posting about it soon. It’s an account I spun off my trading account. I buy small amounts of stock with the profits of my trading account and transfer it to a separate account. These stocks will be given to young family members as gifts on different occasions.
Below is a screen shot of my trading account value. This was taken on Jan 2, 2018, about 45 minutes into trading, first day of trading. I was not near my computer for the opening bell of the year so it’s not the exact opening balance. I removed the $50,000 and the last monthly $4000 after the last day of 2017. It takes into the next trading day to see the balance change. This is why I could not take the trading balance over the weekend. I was waiting for the $50,000 and the $4000 to be adjusted out of my account.
Opening account balance for “Trading Account” 2018
Below is the “Gift Account” starting balance for 2018.
Opening account balance for “Gift Account” 2018
I started 2018 with a total of $120,486 in the stock market.
2018 started off well. I didn’t make any trades yet but my positions are moving nicely. Let’s hope the “Trump Train” keeps chugging along. I would like to get even with all my positions I’m holding; to my buy-in price. Here’s a screen shot of my balance after 4 trading days. This is my “Trading Account” only. It went from $95,125 to $113,969. My “Gift Account” is up to $25,812.
As you can see my trading account is up $18,844 in 4 days. This really doesn’t mean much because I’m still holding the positions. Anything can happen after the weekend. Let’s hope we keep moving up.
I hope this all makes sense. This is where I’m starting 2018. Let’s see where I can take it for the year. Let’s hope up!
If you have any questions on my starting account balances please write me an email.
Steve
The Options Coach
Sage advise on money is not everything. I agree. Thanks for re-stating that at the beginning of the trading year. It keeps everything in perspective.