Optimising the Wheelie Wash Plant
This Blog has come into being after a long string of Tweets I sent out recently which were essentially about my Approach and how I intend to go forwards with ensuring that I can exploit how I do things to maximum effect but with minimal Risk and Effort.
I have actually captured the Tweets and put them into another Blog Draft and hopefully that will come out soon as well. I have added some other thoughts to those Tweets so it should make a decent read and in combination with a recent Blog about my Approach, Readers should have lots of detail on how I have evolved my methods and they can mull over any aspects they wish to copy etc. I will include a link to that Approach Blog at the bottom of this one.
One of the concepts that I mentioned in the string of Tweets was that I see 3 key parts to my Approach which I have classified as System, Execution and Optimisation.
Needless to say if you have not read Part 1 yet then it probably makes sense to go back to that one first before you start on this one. You can find it here:
Anyway, I was going through various Bullet Points around the subject matter concerned and here are the next bunch:
This Blog, the first of a Series, has had a pretty slow development from a simple observation about how many people I see/know go about their Investing to something far larger and much more involved - yet, at this stage of starting to type, I am not really convinced that it will coalesce into a coherent whole - I can see this one being abandoned at some point and me just publishing it anyway in whatever state it is in and Readers can make of it what they will !!
Thankfully since typing the above I have made a lot more progress on the full draft and there is a reasonable chance that it might turn out not too dire. In fact, it might actually be quite helpful for many Readers.
I have noticed with regularity how even very highly experienced and successful and wealthy Investors I know seem to lack a final conviction / belief in their own ideas and often it just needs someone like me to say “yes, I like the look of that Stock and it is probably well worth buying” or to actually buy it myself, to get them to finally take the plunge and ‘Pull the Trigger’ to bring it into their Portfolio. In simple terms, some people need reassurance despite knowing what to do.
Jesse Livermore’s Trading Rules - how do they relate to the WD Approach? Part 1 of 2
A while back @Chrissayce sent round on Twitter a list of Jesse Livermore’s Trading Rules - these are clearly intended for Stockmarket Players with a ‘Trader’ mindset rather than that of an ‘Investor’, but I wondered how they related to how I go about things. In addition, are there insights here that I can learn from and possibly incorporate more in how I do stuff?
Right, I am pretty sure you will have read my Blog on WheelieDealer’s M3 Manifesto (if not, you can find it on my Blog page - it is so important it even has its own ’Category’) - but it’s a pretty lengthy list. How about if you knew which ones to concentrate on first? How about if it was a bit like the Pareto Rule - 80:20 - 80% of the Benefits for 20% of the Effort?
Well it is like that. I have separated the Key Elements out into ‘Golden Keys‘, ‘Silver Keys’ and ‘Bronze Keys‘, as follows. I was hoping to do the Top 10, then the Next 10 and then The Rest, but when I actually started prioritising, I found that 15, 15 and The Rest made more sense.
I THINK THIS IS THE MOST IMPORTANT BLOG I HAVE WRITTEN AND A ‘MUST READ‘. THE CONTENTS WILL FORM THE CENTREPIECE OF MY WEBSITE GOING FORWARD AND SHOULD HELP READERS REFINE THEIR APPROACH.
This is Wheelie’s ‘Get Rich Quick’ scheme*……..
As usual, I am supposed to be hammering out another Blog which I promised you all (HSS Hire) but I have got myself distracted. It is utterly weird how some of these Blog ideas come to me and when I get such inspiration, I feel the need to get on and type ASAP before the idea cools off and I type something substandard. I was having a Shower this morning and it suddenly hit me (the Blog idea, not the Shower Head) and while I was dripping wet I had to rush to my Office (what a grand name for a desk and an old Netbook) and grab some A4 paper and get biro-ing like a demon possessed with Blog Writing fever.
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