As I mentioned in yesterdays post I'm starting my first ever trading account; my broker is Thinkorswim and I've made an initial deposit of $5,000 CDN. Today I received a confirmation email from Thinkorswim (thank you) that my funds have been credited to my account. Only shitty thing is I lost $136.91 after the foreign exchange rate conversion ($1.020), so my account balance sits at $4,863.81.
I do not want to rush this process, as that seems to be a major mistake a lot of traders make. My philosophy is love what you do and the rest will follow. With that in mind I've set a modest, attainable goal for myself - by December 31, 2008 I want to double my account size. Just so everyone's math is correct I want to have an account worth $10,000 CDN by year's end.
I've spent around $1,000 on various items to get myself ready for this journey - books, Penny stocking DVD , TIMAlerts, etc. When they say it takes money to make money, they aren't kidding.
It's time to pull fruit off this low hanging tree.