Turns out, this has been the WORST week of 2012 for me personally. Before you feel sorry for me (as you should being a sympathetic human being), let me explain that my loss is only a confirmation of The PPT.
On my way to Vegas, I swore I wouldn’t trade. I make it a rule not to open any new positions while on the road simply because I feel I’m not in tune with what’s going happening. Turns out, that rule, which I obviously broke, would have helped me.
A bunch of ETFs (TNA, DIG, XLF, etc) and some stocks I’ve been watching like BAC all hit Oversold. The stats were out of this world!
- I opened some new positions
- I started at my tiny phone
- I freaked out and closed positions
Stupid? Yes only because once again, pure PPT algo trading is the way to go.
Every one of those positions was correct and my emotions (gut feeling) were once again WRONG.
Yeah, I figured you’d say that and truthfully, I love trading because it’s me against me. The market wasn’t right or wrong, I was wrong because I bet against my better half. The rational side.
Hybrid Trading is the ONLY way to go. It filters out all the noise and emotions which make people trade irrationally. I traded irrationally because I was out of the zone.
Next time, trade the algos and forget anything else. 99% of the time, The PPT is spot on. It’s saved me thousands and made me thousands. I think without it two things would happen.
- I’d not be trading at all
- I’d be broke
I”m not sure if it’s referring to…
In any event, it’s odd that tonight after this monster rally and my woeful day, I open up this fortune cookie and see this?
Coincidence? Maybe but whatever force put this in the cookie, got me to iBC and this crew of misfits.
On a lighter note and with some decent information…
- marc david
P.S. – If you would please click the LIKE, Tweet or Google + buttons I’d very much appreciate it.
8 Responses to My Emotions Got the Best of Me
I feel you. I was two seconds away from closing my C calls thursday afternoon. I still feel like a jackass because I didn’t stick to my mental stop, yet I lucked out. Every situation is a new lesson.
The biggest workout mistake, imo, is slacking on after workout meals. If you are going to work your ass off, put in a little extra effort to eat well, get your proteins, re-hydrate and get good sleep. I’ve been guilty of it – you get back from the gym tired as hell and just want to sit on the couch.
Do not forget CARBS. You must replenish your energy stores to recover.
I’m amazed at the folks that work out hard, and just go home and that’s it.
Cortisol (the stress hormone) is at it’s peak during the workout and upon waking.
Keep that at bay, and you spare muscle.
Agreed. I’ve tried lots of supplements. Protein, creatine, and glutamine, in that order, are what I’ve settled on as far as after workout shakes. All that other crap is just crap.
I’m glad you find me amusing doctor
awesome post, i don’t know how many times I’ve broke my own rules only to end up paying the price.
mda – Glad to see you posting. Just keep trading. The more you trade the less this stuff affects you.
“The PPT is spot on”
PPT is not a sure thing; but it may improve your edge if you use it in conjunction with a trading plan.