DAY 3 UPDATE: Friday, 01-Oct-2004 10:54 AM

Spending about an hour collecting change around my place yielded enough to cover about the first 10 STEPS and one great idea.

The idea relates to FAILURE. It is said (and a fact) that between start up and success, often the greatest of those who have succeeded have failed very often.

For example, WALT DISNEY declared banktuptsy 7 (yes SEVEN!) times in the process of creating WALT DISNEY WORLD. Often with winners, like Babe Ruth, who also struckout very often to Michael Jordan, who often missed a lot of shots that were game winners. But, what do we remember about RUTH and JORDAN?

The winning moments.

One of the problems in my task is that I have not accomodated my 31 STEP system to include room for failure.

So, here is my solution: I am going to work on 5 31-STEP doubling intervals. However, my goal is not to get to $10,737, 418.24 TIMES 5,

My goal is to keep doubling 5, and along the way, 4 may fail, but each time I fail, I'll hope to have a "SOFT LANDING" -- Especially, while I am investing in stocks I can accomplish this with my "STOCK SALES RULES" that I will get into a bit later.

So, in my diary/Notebook, I am off with:

ATTEMPT ONE: @ STEP 10

ATTEMPT TWO: @ STEP 10

ATTEMPT THREE: @ STEP 10

ATTEMPT FOUR: @ STEP 10

ATTEMPT FIVE: @ STEP 10

Total: $5.12 x 5 or $25.60 "in the bank" mostly made of coins and 'many' dollar coins from 90's and 2000.

Ok, let's move on...

All this was thought about while doing my mundane task of collecting coins around the house.

Another thought on this is that when/if an "ATTEMPT" fails, I can allocate the funds to my needs/wants and "exit that cash".

Let's say I want to further my education (It's been a while since those days at good 'ole Ohio State University) but one of the gest ways of increasing a net worth is by education. So, using some exit cash, perhaps, I want to allocate that to "EDUCATION". So, I am labeling ATTEMPT ONE: EDUCATION FUNDS and setting a goal of reaching STEP 23 --about what an MBA would cost for an out-of-state student. Of course, this is just an HIGH estimate, and any moneies left over can be put into my kids 529 or something related to their future education.

Exit Cash as I'll call it goes to the hart of investing, as you'll see when I execute my strategies.

Always remember, A BIRD in the HAND is worth TWO in the BUSH!

So, my conclusion for this session:

5 Attempts

ATTEMPT ONE: For EDUCATION

ATTEMPT TWO: don't know yet.

ATTEMPT THREE: don't know yet.

ATTEMPT FOUR: don't know yet.

ATTEMPT FIVE: Going for 31 STEPS -- $10M +

I've hit up to STEP 10 with all FIVE.

Set a limit for EXIT CASH with ATTEMPT ONE at STEP 23.

Day 2 | TODAY is DAY 3 | Day 4