Quick update + big goals for 2010

I’ve been negligent about posting for the last couple weeks.  Mostly because I shut down trading operations Dec. 11 due to travel and end of year work and personal business. 

I’ve been trying to wrap up a software project release for my non-trading business.  I hope to have everything completed today, then my mind can get back to the trading business for 2010.

My big-picture goals for the upcoming year are:

• Be a profitable short-term trader
• Keep professional records of my trading operation
• Continue to learn and develop new skills that improve my trades
• Meet other traders
• Have fun

This time of year, I also start thinking about taxes.  I’ve been doing my own for many years, and feel pretty comfortable with that, and will probably do them this year.  That said, as with any new business venture, it’s probably prudent to consult someone who specializes in taxation specific to that type of business.  So, in early 2010, I’ll be looking for that specialist.  As a start, I’ve found these resources to be quite helpful:

• http://diebrokeblog.com/2009/12/27/trader-taxation-part-1-a-quick-definition-of-what-a-trading-business-is-to-the-irs-and-to-you/
• http://www.smartmoney.com/personal-finance/taxes/more-tax-tips-for-day-traders-9536/
• http://www.themoneyblogs.com/personal-finance/greentradertaxcom/forex-and-tax-treatment.html
• http://www.greencompany.com/

For the week ahead, I have several books I want to finish up.   Mostly I want to get a better understanding of Market/Volume Profile and determine how best to integrate the concepts into my trading style.  I’ve also been reading books like “Entries and Exits,” and “The New Market Wizards.”  I’d like to finish those up and put them on the shelf for a while.  I’m going to finish up my trading plan (it’s almost done (really)), and get my recordkeeping system in place for the year ahead.

Oh well, back to the software business for now….

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