Its been a tough trading day the last couple of days. Two of the stocks I was long on have been downgraded and have taken a hit. They may recover but I am not taking any more chances so have closed one of the positions out.

Another stock I was VERY bearish on had a major uprating due to being considered the sole bidder for a large trading contract. I was bearish because of some problems they were having with their power plants. The stock moved up 25% then fell 10% on the bad news I was expecting. Big loss wiped out most of the years gains.

You wonder some times if it is all worth it but hey, gotta keep fighting !!

How I paid off the mortgage by trading

Well, its taken me long enough to do it but I decided that as I had made enough money trading options in 2006 I would pay it off. It wasn't a huge mortgage by some standards but its just one less thing to think about.

Very interestingly, another trader friend and my bank manager said that I should reinvest it and make more money with it, but this way I save myself a heap of interest at 5% and get some peace of mind. Additionally I want to use the rest of my trading profits I make next year to pay for my place in Barbados !!

If people out there are reading this and thinking , hey trading must be easy if this guy can do it. Well yeah, it is and it isn't. I have had quite a few losses along the way, but overall I have made more money than I have lost, which, going by some of my friends and colleagues, is better than most.

It is not for the faint hearted but if you have the will to continue (I am in my 6th year of option trading) then you can do it.

I've got so much to write down here it hurts. More soon