Plan to achieve financial freedom
By rocky777
@rocky777 (353)
India
June 14, 2007 6:11am CST
Here is how I plan to achieve financial freedom-
I plan to perfect my stock trading skills to earn a return of at least 6% per month which translates to about 100% return in a years time (compounded monthly) Then set aside some capital to start doubling my money every year and hopefully in 5 years time, I should have 32 times my capital, if all goes well. So I will start with one - thirtieth of my projected financial freedom number which is what I need to retire.
Anyone here who has thought out how he/she plans to achieve financial freedom?
1 person likes this
5 responses
@ranikrishnan (1683)
• India
21 Jun 07
i was planning to make myself a financial plan just like urs but was wondering where to start, i have plans to invest in shares, and i am right now reading about it to get more knowledge. and like u said i was to invest and reinvest my earnings to compund the returns, i have to plan it like u for short and long term. good luck and i have bookmarked ur blog for updates.
@ranikrishnan (1683)
• India
21 Jun 07
what i earn thru online writing is what i ant to invest as it is the surplus income i get out of my own brain, without any investment. so like u sad, i need to plan a concrete strategy and i will definately inform u when i make one for advice from ur side.
@optionsguru88 (310)
• Singapore
19 Jun 07
Hi :
It's good that you have a plan to use stocks trading as a way to build your financial freedom goal.
Thread carefully in this journey. You may have acquire the necessary trading skills but you need time & great effort to understand how the stock market works and slowly develop your market experiences.
I trade stock options myself so I know you have a long road ahead. But that doesn't mean you give up easily when things failed :)
Good luck in your trading journey, pal.
Yours Truly,
Tony Chai
a disabled options trader
http://options4u.blogspot.com
@optionsguru88 (310)
• Singapore
20 Jun 07
Hi :
Although I have been trading US stock options for the past 2 and a half years, I have gained much knowledge about options trading from books, resources from the internet the Options University Home-Study Course.
After building the foundation of the technicalities of the trading stock options, I realize I needed a more specific trading technique for me to make money with options trading.
That prompted me to attend The Live Freely Trading Seminar in my country and that really fine-tuned my trading technique.
I entered the market to trade US stock options from then on. I have ever tried given up a few times and tried other methods but I felt that his earnings gapping analysis technique make sense and till today I stick on to it. I keep refining the technique so that my probability of success is higher.
I'm still learning in this journey and each and everyday I will learn anything related to keep refining my trading technique and one important thing is to look back the trades that I blogged to recall what I did that produce those successful trades.
The blog has actually helped back myself although my initial purpose was to help others understand how I use options as a leverage in trading US shares.
Yours Truly,
Tony Chai
a disabled options trader
http://options4u.blogspot.com
@rinaaus (1201)
• Australia
20 Jun 07
Right here waiting for your result. I will compare with what i'm doing now. I do stock trading too. I start about 3 months ago. I spent 1 month to read and have some ideas, 1 month to set up online trading stock, so I've only traded for 1 month so far now. But i feel I'm lucky because I made $700 at my first trade. And finally, i don't know anything about stock trading up to now. For me it's very simple, buy when the price goes down, and sell when it goes up. I will see your plan and my plan? :)
1 person likes this
@rocky777 (353)
• India
20 Jun 07
Oh, come on, do share your plan! It is legal to dream, in my country, at least! Your initial results are outstanding. But some more information would help others - what was your capital outlay, how much did you loose in the first month, do you trade only one the way up, or do you also trade on the way down. Also any tips and tricks you can afford to share are welcome. By the by, where did you learn trading - one month to learn is very fast!
@rocky777 (353)
• India
15 Jun 07
I have as of date made about 25% investing in stocks, over a period of last 4 years. This is through buy and hold, not stock trading. I am currently educating my self about trading, and once I have a strategy, I will probably test it for a while before putting any money in it. I will probably put up strategies on one of my blogs, but for now you can check out investing (not trading) strategies at my blog at http://strategiestoinvest.blogspot.com
1 person likes this
@lonely_f16 (2146)
• Philippines
14 Jun 07
may i ask how do you do that stock trading? I'm pretty interested as to the way you hope to achieve financial freedom
1 person likes this
@rocky777 (353)
• India
15 Jun 07
Stock trading is high risk, high reward. I am currently reading a book on point and figure charting and I will probably use that for my trading strategy. It is some work, but hopefully, I will find the time to use point and figure charts. Online brokers are many, we have some in India too, ICICIDirect, HDFCOnline etc.
