Who Am I?
I’m Pursuer of Wealth (PW) and I’m the primary author of www.PursuingWealth.com. I’m a 30'ish year old African-American male, recently married (March 2008), and have no kids (yet). I’ve been trading stocks and stock options, off and on, and with minimal success since 2005. I’m not rich (yet), but I’ll eventually get there if I’m disciplined and learn from my mistakes as well as my successes. I’m an average trader attempting to be a great trader. I’m not attempting to quit my day job and be a full time trader (it helps that I like my job), but I would at least like to replace my income in a year or two.
Interesting fact: My wife is Native American (Nez Perce) and I met her through eHarmony. Yes, it does work, and the people on TV are real. You can check us out HERE.
Activities: Varies depending on how I feel. My favorites so far are skydiving, white water rafting, and day hiking.
Education: B.S. in Mathematics and Statistics from Virginia State University
Occupation: Home Buyer Educator. I teach home ownership and financial literacy classes, along with counseling families in between.
Hometown: Ashland, Virginia (currently reside in North Central Idaho)
What and How Do I Trade?
I get my stock watch list from the Investor’s Business Daily. For the purposes of this site I only invest in stock options, but that will eventually change as my account size increases. I would consider myself a position trader, which means I hold my trades anywhere from a few days to a few months. I trade mainly trending stocks however; I’m learning how to trade breakouts.
Why Did I Start This Blog?
I started this Blog to document my trading journey. I will record my trades as well as my personal thoughts on trading. I always hear about these trading gurus who started with $5000, $10,000, or $30,000 and turned it into millions in a few years. This almost never encourages the small trader who starts with a little bit of money. You always here about their success after the fact and I have yet to find one who was willing to show you their actual trades. Their books seem to only sell you on the dream of creating wealth instead of sharing their actual step by step story. I think showing the actual trades and steps to get there would add a sense of credibility to what they say, but hey that’s just how I think. When I make money, you’ll see it. When I lose money, you’ll see it. And when I become a millionaire you won’t need to buy my book to see how I did it, you’ll just need to come here and read my Blog.
Why Did I Choose to Start with $1000?
I’m curious to see what an average trader can do with a $1000, and it should be easy to measure my results based on this amount. Another reason is that I wanted to inspire myself as well as others. I believe in my heart that I will eventually become a very successful trader. I want to look back on my journey and be in awe that I only started with a $1000, and I want others to realize that they can do the same. I fully intend to add no more money to my account. I must be successful or this trading experiment is over (I have 3 other accounts to fall back on)! If through my trading I lose my entire $1000 then I’ve proven that I don’t need more money, I need more education and discipline. Too many people throw good money after bad money, including myself, and I’ve had enough of that. It’s time to be held accountable for my actions. This Blog should help.
UPDATE: I completely screwed up with this portfolio. You can read the obituary HERE. I changed to just tracking my trade results.
Should You Listen To Me or Follow My Trades
NO!!! Make your own decisions, and decide what trading/investing style you’re comfortable with. What works for me might not work for you. I want you to be a smart investor, and a smart investor is one who finds the best trading system that works with their own unique character traits. They then find a vehicle (stocks, options, mutual funds, etc. etc.) and use it to create wealth. Take whatever you learn here and incorporate it with your own personality, but don’t do exactly what I do; it’s disempowering. If you want to follow someone’s trades than I would suggest you go find a multi-millionaire and mirror what he or she does.
If you’d like to contact me send an e-mail to pursuingwealth [at] gmail [dot] com
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