This weekend, I’m going out to see how people make money on the weekend. Armed with my video camera, tripod and camera, I plan on capturing the adventure.
Mindset
Mentally, I feel strained, strapped. To put myself in this mindset of not having any money is stressful. But it’s the only way I’m going to be able to learn how to make money on the weekend without being in the “actual” situation. I also need to be able to write about the experience.
Today was an unusal day. I lost all of my Forex profits plus an addtional $200.00 for a total over $600.00 in an hour. At work, I couldn’t even think. I didn’t want to be there. This is about how I was feeling today.
However, the experience got me to thinking. I was up $450.00 for the week and I thought about talking all of my profits and putting it into my savings. However, greed was what made me place another trade before going to work. The one good thing I did was place stops 100 pips below my order.Yes, it got me to thinking about how self-sabotaging my behavior is regarding wealth and money. It caused me to think about how I view and appreciate money. How I don’t follow my own rules that I set up for trading system. All of this caused me to be at a loss for the week.
So what I’ve learned today is that I know that I can create the type of life I want because I’ve created this life. I have no one to blame other than myself. I can create wins just as I can create losses. The only thing left for me to do is learn how to make a living without a job. I know from my last week’s trading I can, but I need another source of income to replace the job. I’m going to start tomorrow learning how people make money on the weekend. Odd jobs. I’m also going to start writing books, and creating products for me to sell.
The Blog Novice’s Blogger Income Report for June 2008
Another month has past. Here is how bloggers did for income for June 2008. If you report your blog’s income and would like to be included on future list, leave a post.
ChrisBlogging – $10,073.34
ProBlogineer – $1,688.83
Blueverse – $1,615.00
Inspired Money Maker - $1,528.46
Make Money From Photos Online - $640.00
DuckelDanny – $585.59
NiltoMil – $524.84
The Net Fool – $370.26
Earn on the Side – $199.55
Chris Guthrie – $181.00
The Writer’s Coin – $130.96
Infectedbybugs – $60.00
Million Dollar Portfolio – $55.60
For the last three trading sessions, the EUR/USD has failed to rally and stay above 1.58 for any amount of time before sliding to find support levels. I’ve been able to make over the last few days $200.00 when it has by selling after it has reached above 1.58.
On Thursday, the European Central Bank’s President Jean-Claude Trichet is anticipated to raise interest rates 25 points. This move is expected to strengthen the euro and move to the 1.60 level.
This morning, my trade finally went into the profit area. I closed the position taking a $100.00 profit. The problem I have with my profit is that I was afriad of losing the profit again. If I kept the position, I would have. However, I placed another buy again as I was afriad it would shoot to the moon as I went to work. When I did arrive at work, it drop as low as 1.5733. I placed a stop at 1.5700. If I was stopped out of my position, I would have lost $500.00. Not good as I’m trying to earn a living here.