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
23,475 Blog Posts

Wrapped Up a Sublime Trading Day 100% in Charge

These were my results.

BE +6.7%
DGLY +17.7%
(FAZ -10%)
(WIMI -5.5%)
BHAT +7.6%
DGLY +11.7%
SONO +6.85%
FUV +3%
AIM +6.8%
JRJC -10%
EAST – wash
(MNK -5.1%)
(PTE -1.2%)
AHPI +9.6%

Most of them were data trades. I am finding the intra day stuff to be working better than overnight holds recently. Maybe this is going to last, maybe not. But there is a FUCKLOAD of volatility and it’s easy to trade this runners.

What is the key with runners?

No fear.

How do we achieve fearlessness when trading bat-shit stocks?

Position sizes.

Each trade is 5% of my portfolio and I usually always sell at max -10%. If you do this, I promise you, trading will become fun again. I aim to win based on the quantity of my wins, not the magnitude of them.

For example, I have an unrealized gain of +50% in WRTC — but it only equates to 230bps in my portfolio. I am fine with this because this is my game. I trade dozens of stocks per week and aim to continue this feverish pace until I am exhausted. It’s easy to lose energy or drive when you are losing. The fastest path to failure is poorly sized positions and improper risk management.

Bottom line: I am not here to teach you, only provide you with fish to eat. But I think you would be wise not to blow yourselves up before deciding to join us in Exodus.

Cheers.

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12 comments

  1. ericbakerbruce

    number 1 rule in trading- cut your losses. sell at 7% or 8%, easier to make it up on next trade. 8% loss means you need an 8.7% gain on next trade. It’s like Judo, learn how to fall so you can get up and continue the fight.

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  2. heckler

    All of the above advice is highly retarded please disregard

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    • ericbakerbruce

      nothing retarded about it at all chump, if you’re a trader. it’s simple math. you lose 50% out of the gate, then you need 100% on your next trade to make it up. limit your losses….

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  3. one-eighty

    Your accountant must dread seeing you come in the door at tax time. “Christ, here’s Mr. 2000 fucking lines of cap. gains again.”

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    • ericbakerbruce

      that’s what they’re paid for. although schedule D is fairly simple to complete if you keep good records

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    • ha

      Accountants love it. $$$

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  4. ha

    How many Biological Safety Levels (BSL) 3 and 4 labs are there in the world?

    They are found in the U.S., China, Argentina, Australia, Brazil, Canada, The Czech Republic, France, Gabon, Germany, Hungary, India, Italy, Russia, South Africa, Sweden, Switzerland, Taiwan and the United Kingdom.41 People are also unaware of how often leaks occur.

    For example, in 2017 at the BSL 4 lab on Galveston Island, there were serious questions about what happened to pathogens housed there after it was hit by a massive storm and severe flooding.42 Only two years later, the BSL 4 lab in Fort Detrick, Maryland, was temporarily shut down after protocol violations.43

    When Hurricane Katrina struck in 2005, the greater New Orleans area housed at least five BSL 3 labs that were studying anthrax, HIV, SARS, West Nile and genetically engineered mouse pox. According to The Daily Bruin:44

    “The National Primate Research Center, located at Tulane, housed nearly 5,000 monkeys in outdoor cages for ‘infectious disease, including biodefense-related work, gene therapy, reproductive biology and neuroscience,’ according to an article in Tulane University Magazine.”

    The CDC Has Had Several BSL Safety Breaches and Accidents

    Even the U.S. Centers for Disease Control and Prevention has had leaks in its home-based Atlanta facility. In June 2012, the agency made headline news when an inspector reported that a building housing anthrax, SARS and monkeypox in one of its bioterror labs had a noticeable air leak. This was following similar reports in 2007 and 2008. Of the 2012 incident, ABC News said:45

    “The documents suggest a breach in biosafety regulations, imposed nationwide by the CDC itself, that dictate labs housing the most dangerous inhalable infectious agents must be maintained under ‘negative pressure.'”

    The CDC just seems to keep having accidents. For example, in June 2014, the CDC released a public statement46 stating “… approximately 75 Atlanta-based staff are being monitored after being exposed to live anthrax when … established safety practices were not followed.”

    The CDC then pledged to do internal reviews of lab-safety policies and procedures. Six months later, in December 2014, Reuters47 reported that the CDC had created a new, high-level safety position to “identify problems, establish plans to solve them, and hold programs throughout CDC accountable for follow-up.”

    But, in 2016, it happened again: Problems in an Atlanta BSL-4 lab working “with deadly Ebola and smallpox viruses and other pathogens that lack vaccines or reliable treatments” developed when safety seals and backup safety measures on its labs failed.

    In reporting on this incident, USA Today obtained copies of reports from a 2009 incident, and learned that certain CDC officials tried to hide the problems. USA Today asked Richard Ebright, a Rutgers University biosafety expert who has testified before Congress on these issues, to look at the reports and to give his opinion on the CDC’s actions. Ebright said:

    “Overall, the incident shows that failures — even cascading, compounding, catastrophic failures of BSL-4 biocontainment labs occur … And the attempted cover-up within the CDC makes it clear that the CDC cannot be relied upon to police its own, much less other institutions.”

    The CDC responded that “there was never any risk posed by the lab’s equipment failures.”

    What other accidents have we yet to hear about?

    Relax. They would tell us. It’s under control. They’ve got your back.

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