Sunday, January 27, 2008

Step 19 - Forex trading - recovery after draw down

My forex trading account finally recovered after sizable draw down. It was down to almost $1,500, and now it's back to slightly above $2,000, my initial investment. So after almost two months of trading I'm at the beginning. I give some serious thought to withdraw my capital out of forex trading account, and find some other investment for that capital. With this speed I will never reach step 20. But I decided to give it a few more months. Forex trading is a risky business, and it's not easy to find good managed forex account. I think I found a good one with this company. We will see in the next few months.

Online investment deal went very well. In 30 days I earned 50% profits and get out of there. Private deal 1 still didn't start to trade with my capital. It will start in February. Same goes with Private deal 2.

And small update on my tracking method... I decided to get back to tracking Total Capital, Available Capital and Invested Capital of My Doubling Adventure project. I already tracked those figures back in June-July of last year. I figure out it's easier for me to just update those 3 figures than to post complete balance sheet each time.


Available Capital 1,257.92
Invested Capital 15,224.17
Total Capital 16,482.09

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Tuesday, January 15, 2008

Step 19 - January 14, 2007

Update of the current state of My Doubling Adventure's net worth. I paid off all liabilities related to the project. Forex trading is in minus. Added some additional books for reselling. Received second payout from online investment program. I should get in profit this Friday if everything goes well.

Assets


Cash 1,468.82
Forex trading account 9,374.74
Online investment program 191.01
Private investment program 4,940.00
Inventory 52.00


Total assets 16,026.57




Liabilities


Total liabilities 0.00




Net worth 16,026.57


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Wednesday, January 9, 2008

Step 19 - Update

Balance of my forex account is up again, and it almost reaches my starting amount. This fluctuations clearly shows the nature of forex trading... highly risky with large fluctuations. But hopefully in the long term it will be profitable venture.

Some of my liabilities become due and I pay them. That decreased My Doubling Adventure's liabilities.

There were also different additions to My Doubling Adventure cash. I received withdrawal from online investment program of 40 USD.

Everything looks nicer today than it was in my last post. I'm above 16,000 HRK again and that's good. :)


Assets


Cash 1,514.30
Money market fund 4,770.28
Forex trading account 9,943.15
Online investment program 300.00
Private investment program 5,000.00
Inventory 32.00
Accounts receivable 15.00


Total assets 21,574.73




Liabilities


Credit card balance 5,250.11


Total liabilities 5,250.11




Net worth 16,324.62



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Sunday, January 6, 2008

Step 19 - Drawdown in My Forex Trading Account

There is a drawdown in my forex trading account of about 8%. It happened since my last post. Hope next week will bring some profits from forex trading. Also, I received 200 HRK gift for my birthday, sold 3 CDs, and some other small additions to My Doubling Adventure project.

Assets


Cash 1,105.88
Money market fund 15,054.87
Forex trading account 9,178.62
Online investment program 479.41
Private investment program 4,993.89
Inventory 32.00


Total assets 30,844.68




Liabilities


Credit card balance 15,485.44


Total liabilities 15,485.44




Net worth 15,359.24


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Friday, January 4, 2008

Step 19 - Items for sale added

Added some CDs and books that I plan to sell on online auctions or offline. Trading in my forex account started again after holiday brake. Money market fund shows continuing growth. I will probably move some funds tomorrow from money market fund so that I can pay part of credit card debt that is due in about week. This part of debt occurred when I fund my forex account with my credit card. USD continues to go down and that affects My Doubling Adventure Net Worth as significant portion of assets are denominated in USD.


Assets


Cash 1,791.59
Money market fund 14,051.21
Forex trading account 9,816.18
Online investment program 457.78
Private investment program 4,975.89
Inventory 47.00
Accounts receivable 70.00


Total assets 31,209.65




Liabilities


Credit card balance 15,476.28


Total liabilities 15,476.28




Net worth 15,733.36


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Tuesday, January 1, 2008

Step 19 - New Year

Happy New Year! :)


This is the second year of My Doubling Adventure. It all started on January 2007. I feel like I made a full circle. Although it may not seem like some achievement I'm happy because I stayed active and keep on with this project. That alone makes me happy.

I hope I will manage to complete several steps in 2008. I would be personally happy if I would manage to build Net Worth of My Doubling Adventure just above 100,000 HRK in this year. Anything beyond that will be pure bonus and pure pleasure.

Assets


Cash 1,771.73
Money market fund 14,038.23
Forex trading account 9,900.96
Online investment program 438.50
Private investment program 4,982.97


Total assets 31,132.40




Liabilities


Credit card balance 15,468.61


Total liabilities 15,468.61




Net worth 15,663.79



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