January 29, 2009

Trying to change your habits is just plain difficult. I try to work out every day and eat sensibly but progress is so illusive. I just don't see the progress that I want.

I have been listening to Paul J. Meyers audio programs at the gym and in the car. "Audio University" has been an important part of my life for many years. He emphasizes the importance of belief in yourself. Tony Robbins talks about the stories that we tell ourselves to explain our situation. They help to explain why we are not as successful as we wish that we were. I was going to say "as successful as we want to be" but that would not be true. As Ed Seykota has said, "We get out the market exactly what we want to get." That is the same in life. We are where we are because of the choices that we have made. If we want to be in a different place, we only need to make different choices. It is up to us.

Change, however, is uncomfortable. We would rather continue in a 'hell' that we know than change and pursue heaven.

This year is the year for Play Dough Asset Management. I will work diligently to make it a suceesss. It is possible. The current market conditions may be rather unique but this market is also loaded with opportunity. I just need to find it. Trillions of dollars has not been "lost." The money moves from one pocket to another. The "secret" is to be at the receiving pocket.

Introduction to the Play Dough Blog

This is the initial posting to the Play Dough Blog. First, a little background:

I am a retired teacher and Navy CPO. I have been trading stocks and options for about 9 years. In this my first real career after retirement, I formed a Nevada corporation (Play Dough Asset Management, Inc.), and an LLC (Play Dough, LLC). My corporation provides the asset management services for the LLC.

Like many traders before me, I was introduced to trading by the infamous Wade Cook. I subsequently expanded my education through courses offered by Optionetics and the Pristine Day Trader.

The Trading platforms that I use and report on are the following:

• TC 2007: I have been using TC2000 for over 9 years, Fantastic program! I received my Worden "knighthood" a few years ago ("Sir Disciplined Strategist")
• StockFinder: This is the newest product from Wordens. Big learning curve!
• thinkorswim: Undoubtedly the most powerful platform available for the common trader.

I would describe myself as a intraday trader. A true day trader may be in and out of positions a hundred times a day for a small profit each time. My target is a 1% total profit and I have about 4-7 trades per day. I use the Pristine Bury Setup to locate my target stocks. I am in by 10:00 and I close all positions by 4:00. I have found this to be a relatively low stress approach to trading.