2020 Report Card: Following Nick’s lead
Overall, between all the trading systems, I ended up more than doubling our accounts.
My strategic portfolio which consists of a 401k in which Boeing matches all my contributions by 100% grew by nearly 40% this year also. Unfortunately, I can’t manage this as much as I would like and I must contribute or I do not get the Boeing match.
Real Estate properties, I own 4. We took another small loss this year due to COVID, not allowed to evict a renter that refused to pay. The state gives us nothing for it, they expect the landlords to eat the loss, it is frustrating.
My wife and I couldn’t be more pleased with the mentorship here and what Nick and the team has done for us.
My Total account size going in was $220,000 and is now almost $500,000. I would have never dreamed that I’d make 280k in a single year of trading and certainly not this quickly after completing the mentor course. This easily payed for the cost of the course, another failed trading course and we still had a ton of profits left over.
I have been using Nick’s hedge tool this year and will continue to do so. Basically when Nick posts that the market risk is at 4 I sell 50% of my positions in my longer term systems. I then go back in once the risk is down to 2 or lower. I do this because my momentum systems are very aggressive and typically have higher drawdowns than others here, this allows me to mitigate (at least partially) some of those drawdowns. When I have more time, probably not until 2022, I will develop a better system that keeps my drawdowns at 20%.
Goals for 2021:
Finish my BS in Computer Science degree so I can advance in my career and use this knowledge to develop more robust systems with code.
I would love to follow what others are doing in the forum but just haven’t had the luxury of time. My goals right now is to keep things simple and continue trading my systems at their basic levels. I plan on signing up for more of Nick’s strategies temporarily at least, so I can diversify a little bit more for next year; at least until I can develop more systems of my own.
My wife and I will be funneling more money into investments next year. She hasn’t had a job this year because she left to get training as a Software Engineer. We want to get back to saving at least 60% of our take home pay, as she is landing a Software Engineering job soon.
Our plan is to retire (or at least be in a position to retire) in 10 years, 17 years before the normal retirement age.
Diversify into Nick’s US Momo system most likely until I create my own.
I hope everyone has a great new year!
