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Hello Michael,
I’m a CPA and I’m in the process of retiring. I’ve always been fascinated with investing and the mental side of it all, the moving of markets, cause and effect, human behavior, etc.
In the last couple years, I was dabbling in S&P futures and was basically using a dollar cost averaging approach and doing well till last year. Of course got smashed and did all the wrong things. Looking back, I can’t believe how naïve I was to it all (still am).
However after that experience, I thought to myself there has to be a better way. Started just looking at annual charts and thought “good lord” the charts all go up and they go down (In a trend), there has to be a trigger. Then I thought, this is so dumb surely there is an AI program that is already doing all the analysis. So I purchased an expensive license to [name]. Using a 20-day Simple Moving Average (SMA). I’ve been able to do some fairly time-intensive historical paper trading and trying to create systems that are not time intensive. I think I’ve come up with a system that will risk a small amount (with stop losses in place), and then I’ve been using a weighted formula for how much I would trade per day inside the trend (probably overthinking it). With this system I’ve gone back 4 years in several markets and have made some money, but sporadically. For example actually lost money in calendar year 2019 with US Dollars. So not sure the system I’m using is very efficient. Am I on the right path or am I missing something significant? With the amount I spent on [name], I’m very reluctant to spend any more without some return on my investments.
In [name], I asked my coach about these trends and he gave me your name and an episode to listen to on your podcast (I think episode 400 with Tom Basso). After that, I was like, “I want to be this Tom Basso fella.” I like to golf and as I mentioned I’m retiring soon so I don’t want to spend all day trading. However I’m very disciplined and would love to run trading systems. That just sounds perfect to me. Set up the systems in the evening and go golfing. Hopefully make some money too.
Thanks for any suggestions you might have.
Have a great day!
Todd O.
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