WealthEsteem.org Psychology of the Deal

Year: 2003

  • Communication Technique

    One of my distributors got angry at me today. Actually, my phone manner pissed her off. Specifically, she said the way I “hmmm’d” while she spoke sounded like I was eating an apple and reading a magazine. At the time I was trying to make her feel heard (!). In a dispute use the communication…

  • Incomplete BHP trades

    I haven’t noted a few trading attempts that didn’t come off recently. Mainly because I was too busy to write something that didn’t happen. With hindsight I think that was slack — trades that don’t come off are still an attempt to trade. As BHP fell to $9.07 (1 April) I put a buy order…

  • New Wealth Esteem Category

    I’ve decided to create the new category where I’ll blog about the stuff that fills, wastes and fulfills my workday. Stay tuned for: Succession Wars; Distributor disputes; Cashflow mayhem; Empowering staff to build a great company. There is also: Tantrums and hissy-fits; My failed clean-desk policy. And that was just today!

  • General Update

    It turns out some of my friends check this blog to see if I’m still ok. Taking over the company and turning it around has consumed most of my waking hours. However I will probably go to the Somersoft forum lunch at Phillips Foote in the Rocks this Sunday. So I’m thinking of documenting my…

  • Use all your resources

    I just realised I had a copy of Options as a Strategic Investment (2nd Edition) on my bookshelf. Doh! I first read it years ago when Australian options markets were not as liquid for small investors. I have some light bedtime reading coming up. That link is for a Google search in case you’ve never…

  • Dangerous forecasts

    I caught myself making a dangerous forecast this morning. CNBC’s anchors were speculating on the length of the war in Iraq. I expect a short war and my attitude was reflecting it. “No way this thing will drag on for months”, thought I. How many times do I remind myself to deal what what is…

  • Sell 5 BHP Apr 9.73 Calls @ 0.20

    I can’t add! In the last article on option trading, I said my net premiums on BHP were $0.495. The numbers given add up to $0.595! Actually now that I’ve checked my trading statements the after commission premiums are $0.4593. I pulled out my written trading strategy ;). It told me to write 5 BHP…

  • Applying for a loan

    Last week I was talking to an couple with a nice portfolio of investment properties and direct shares. They had just financed their latest acquisition after a mountain of hassles. For smart people they were stuck in an eighties view of finance. They called their bank and got rejected. They then called a friend’s finance…

  • Buy 5 BHP March 9.49 Calls @ 0.05

    That represents $0.17 x 5265 to close out the position. As these are covered calls I own 5625 BHP against which I write these calls. Since doing this BHP has gone from $9.95 to close today at $8.93 so it’s fallen $1.02 (my average buy price was below $9.95). In the same time I’ve earned…

  • CSR update

    I was reviewing my watchlist and realised CSR has been trading 6.40-6.60 recently. I sold out in November at 5.56. Trading doesn’t always win.