iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
19,510 Blog Posts

TRADED HEAVILY INSIDE THE FAGBOX AND GOT REKT

Be me.

Wake up bullish AF. Toss on long trades in the morning, boasting and shit about how you’re gonna buy more. Sashay hard into triple upside ETFs — feeling like a fucking champ.

Later on, bear witness to rally soil itself. Triple upside ETFs become shit. Think the reversal means certain doom, so you sell out and book 2-5% losses on the lot.

Markets continue lower, so you dive into TVIX and TZA. Shit reverses almost immediately and the trade war won again. You panic and book super fast losses in TVIX and TZA, 5% and 2.5%, respectively.

As soon as you sell, markets collapse again and the stock Gods smack you in the face with their cocks.

All in all, because of my allocation limitations, I drew down 100bps because of this chicanery. It could’ve been worse and I definitely feel like going short now — but I’ve lost the right to do anything today — because I trade incorrectly inside of the FAGBOX. I stepped in hard, almost sideways into it, thinking I was immune to the horrors of it, and ended up fucked, forked, radish.

UPDATE: I could not help myself. Long SQQQ

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8 comments

  1. eddiedaroza

    Get in apha bro

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  2. it is showtime

    A perfectly square iceberg?
    Not natural. K. Get it?

    A geometric structure on Mars?
    K. Not natural. Get it?

    A lot of the primary index intradays?

    not

    FUCK-ING

    natural

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  3. awanka

    It’s a coin flip here, Mr. Fly.

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  4. numbersgame

    At least you manned up and OWNED it, Fly.

    Also, you could have done the opposite big mistake: sit on your (overconfidant) hands and then watch half your gains for the day evaporate instead of cashing in…

    I also think that because 95% of retail traders are Bulls, they are going to get wrecked even worse as they fail to comprehend that HODLing doesn’t work in a Bear market.

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