We can only hope and pray that over the weekend something truly dreadful afflicts US markets and we open LIMIT DOWN come Monday. Due to my allergies, I shed 1.4% today and ended the week -3% for the week. My YTD returns have been REDUCED to just 36.2%.
What’s important to understand about trading is the emotional tumult of being in a slump and needing to do certain things to trade out of it. You will never trade out of it by being in cash or “taking some time off” like an extreme pussy.
When it comes to trading out of slumps, I am a foremost expert. In all of the slumps I’ve ever traded out of, zero of them occurred whilst being cautious. I had to take the lumps and continue to take the lumps until muscle memory kicked in and forced survival instincts to kick in.
If you want mediocre returns, just buy the indices and fuck off. If you want to make 50%+ returns per annum, you’ll need to slowly cultivate and carefully curate your methods to both appreciate and accentuate the subtle nuances that makes a great trader. I am a great trader, only because I am a sponge and consume information like no one else. If I wasn’t a sponge and curious about everything, I’d probably get mugged during every downturn and relegate myself to ETFs like many men who pretend they don’t have enough time to focus on their fucking life savings.
Next week I will make it back, and much more.
I am hedged about market neutral to slight short bias into the very long and tumultuous weekend to come.If you enjoy the content at iBankCoin, please follow us on Twitter