| I hit the $2 million dollar net worth mark!
What a month. Although my retirement portfolio continues to get hit, I made some gains day-trading the stock market. The final number does not tell the whole story, however. At one stage I was actually down by over $200K, but I made it all back and then some. It was not a fun couple of days though.
Anyway, seeing as I am writing this in early December, I should add that I've since continued to day trade and racked up some huge gains for December. In fact, my dividend and short-term capital gains for the year are closing in on $300K (these gains will show up in next month's report).
The problem I am having is that I am kind of hooked on the day trading now. When I am up (which is most of the time), I am on fire and it feels great. When I am down, I get very intense about "making my money back."
If this sounds like a casino mentality to you, you're not alone. I try to caution myself by repeatedly reminding myself how lucky I am and how it would feel to lose the money I have gained. Another tactic I am considering is to allow myself to "invest" a little, but in smaller amounts. Of course, this is the difference between playing the penny slots and high stakes poker ... the highs are not as high, but the lows are not as low. I'll figure it out eventually.
Anyway, all in all, it is shaping up to be a fantastic year and I am expecting to end the year with a net worth of almost $2.3 in light of my recent market gains and end-of-the-year profit distributions.
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