Tuesday, July 6, 2010

The 10% Rule

During my time playing the doubling game, I have run my ups and downs. Most of my success was due to a few big hitters, while I spent most of my time down, looking for ways to find my next $1 or more. While I truly enjoy my big hitters, I would love to see a nice steady stream of consistency in my trades that work towards my goals.

After much thought, I discovered that the big hitters are not rare, but common! My readiness, or motivation unfortunately is neither consistent, nor common. I found my big hitters came when I was ready and ripe for it. Usually after I had a long bout of kicking myself for being lazy. One day, I would just get sick of the feeling of stagnation and make a move, I would actually put forth the effort and LOOK for a deal.
That is when I would find one. Odd how that works, huh?

There is a quote made from Samuel Goldwyn that states 'The harder I work, the luckier I get.' My goal is to decide to get lucky a little more often. That is why the 10% rule was invented for my game. My goal is to focus on 10% at a time, until I have that licked. How is that different from my current goal of turning $2500 into $5000?
It is yet another division of the goal put forth by the originator of the doubling plan, Stuart Goldsmith.

Each step is to take the beginning amount and double it, that is, increase it 100%. By taking the 100% and subdividing it into 10 steps of 10%, that gives a nice clear goal. Plus, making a 10% goal within a specific timeline will also make things more reasonable.

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