On Time

img_20161123_163927When I started investing a long time ago, I was in university, the internet existed but it was not so widely used as today,  and I guess that when I bought into that saving account at my Barclays bank I made my first decision not to worry too much about the investment procedures and daily management and let the interest compound and do its work.

Eventually I moved onto Bonds, when it was still half profitable to have them, and after a minor spell of assisted investments (all of which unfortunately ended up being not profitable at all), I started taking care of my own finances as best as I could.

Initially the essence of my strategy was to try to have as much time as possible, investing in “lazy portfolios”, and then I stumbled upon dividend oriented investing, on top of which I am adding now an hefty trading from options.

I am writing from an hotel room in Minsk, the weather outside is bitter (and I am being nice), and I have been spending a good 2 hours to figure out why in the world the accounts that I have with my broker do not match the same accounts that I keep in my Sheets file… Eventually I figured out that it’s down to rounding, but I have lost a lot of time to get those 84 cents of a dollar to come up from the various reports, only to call the search off and manually updating my accounts to reflect this difference.

So much for the not time consuming investments!!

But I did miss “time” during last week! As I am busy working and cannot be in front of a computer, I could not trade actively and I have taken quite an hefty hit in November from an option play that I had lined up, I am not upset or anything (win some/loose some), but I keep asking myself: “what if I had time to trade that day, instead of being in Moscow running around clients?”.

Bottom line, I can see that my trading style is taking more efforts nowadays, maybe I am doing something wrong, maybe it’s just the beginning, who knows. Mrs.Stalflare always tells me that I seem to be doing this checking and stuff a lot and that it’s becoming like a second job to me…

Funny, a second job.

I am starting to have crazy ideas about stopping my current line of employment and dedicate myself completely to trading, but right now the money that I manage to make every year are not enough to cover for the loss of income that I’d have from not having my wage. I still feel that my skills are not up to scratch at all, but maybe it’s just me looking down on “me” as usual…

On the other side I’d have more time at hand, maybe I’d have a more enjoyable life, maybe I could spend time with my dad more, maybe I’d have more chances to train and be fit, maybe…

Oh, it’s time to go to eat now.

Yes… Time.

 

I am curious, How much do you devote to financial related matters during your week?

 

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8 thoughts on “On Time

  1. My option trading takes less than 10 minutes a day, some days 1 minute, a quick look at my risk spreadsheet, some days up to 20 minutes when I need to manage a lot of trades.

    There was a time I used to look all day at the screen… These days are luckily over…

    Liked by 1 person

    1. Ciao ATL,
      When you refer to a risk spreadsheet what kind of calculations do you actually have in there? Only 10 minutes a day, that’s splendid actually! I am much over that right now… 😦

      Like

  2. Hey Stal,

    I know them, those busy periods. Sometimes I have lots of time, other times I suffer from a serious lack of it.

    I can’t give you much advice on the options trading, but what I can say is: don’t start if you can’t finish. I notice it really upsets you that the lack of time prevented you from finishing your options and thus losing money. It would upset me too, of course.

    Just skip a month if you’re really busy 🙂

    Like

    1. Ciao WDYR,
      Thanks for the comment! Well, I guess you are right, there are times when I have plenty of time at hand, others where I can hardly switch on the computer… Option trading doesn’t require a huge amount of time to get it done, but it does require a lot more attention to small details that can change the outcome of a trade. On that I still have to learn a lot and the lesson that I have got it’s useful towards that. But you are right, I am slowing down a little as I expect that the next few months are going to be rather tough… 😦
      ciao and thanks again!
      Stal

      Liked by 1 person

  3. Hi Stal,
    I spent a similar amount of trying to account for rounding errors in an old 401k account this weekend. I gave up and entered the transactions manually. But sometimes I find that kind of mechanical work therapeutic as I can think about other things while doing it.

    As for Time, well you’re only ever given so much & can only spend it once so be careful how you spend it.

    I’m not big on Options as you know; it seems there’s a certain amount of over-confidence building which leads to more risk taking and more expensive ‘lessons’. Personally I think it’s better to find another use of your time to generate side-income.

    Have a safe trip in Minsk & best wishes,
    -DL

    Like

    1. Ciao DL,

      Actually the manual inputting, error searching, is probably part of my obsessive-compulsive soul! 🙂 So in a way I actually like it too… “In a way” 😛

      As to Options, the matter at hand is quite vast, and so far for me it has been a learning trip since the start. The more I walk on this road the more I find new things to learn and of course to experience (and loose money on). But if I look back at my dividend investing it was the same for me at the start, so I am not too worried about it right now.

      Overconfidence is an aspect of the game, but it can also happen with stocks, on that I try to stick to the plan as much as possible, so far managing this aspect decently (I think), though changes of plans (and therefore mistakes) did happen here too.

      My real cross at the moment is the fact that the work that I am doing doesn’t allow me to concentrate as much as would like on trading, having a reflection on the performance that I can dish out and eating up some “free time” that I would have loved to have used for myself. Right now I am holding all together, trying to slowly decrease the amount of work that I have to do, eventually my aim is to move solely on trading and leave the rat race that sometimes I feel I am stuck into. Hard to do, but…. 🙂

      Like

  4. Ciao Stal!

    I think its up to you. You make yourself crazy. Try to look at the markets only a few minutes to half an hour a day.
    You dont need more to be successful. if you look more on the screen I think its a little bit in this direction: you are overtrading, or do you not ?
    time is your friend. let the time make your wins.
    I am doing it like ambertree, 10 minutes in the morning, 10 minutes in the afternoon. And i am trading the accounts for my family as well. I think this should be enough to make annual returns between 12 und 24 percent.

    best regards
    Chri

    Like

  5. CIao Chris,
    Thanks for stopping by. Actually if I analyze very carefully my trading style the time that I spend is NOT that much, but I have far too much meat on my plate right now and this brings the lack of time to do things properly. But surely I am not at your level (20 minutes a day!! WOW) I look and read articles and stuff like that for much longer time… Need to improve there!
    Ciao caio
    Stal

    Like

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