I started this week off with a solid +6%, and by the end of today, it turned into +2%. What happened?
I ignored one of my rules which was to stop trading when I know it’s not the best environment to do so, when my odds of winning greatly decrease. My goal at the beginning of the week was my standard one: to make a 10%+ gain. By mid-week the goal was only to end the week positive (and I met it), however, I am grossly dissatisfied with my own performance in the second half of the week. Needless to say, that’s what happens when you get homo’d and you don’t move out of the way.
The difference is that I caught the mistake early while others were trading their way to “Skid Row” in LA. Trust me, you don’t want to end up over there:
I am gonna drink to a kick ass next week. Have a great weekend!
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UPDATE: ASIA Trade
Re-posting this for new article
Am I crazy for seeing today’s session as bullish? We hold 1100 on a crazy whipsaw day, very heavy volume, and ultimately print new closing highs on the NASDAQ and a couple of other key indices. Every time we break out of this range, we clear out some overhead supply. Also we hold the 20/50 day EMA’s and many indices are breaking out after 10-week pullbacks. To me, the long term picture actually looks fairly positive. We have new weekly closing highs on S&P and NASDAQ. It always looks pretty dark at major turning points, and I feel like this entire week may have been one of those events with the violent tape, failed breakouts, and heavy volume.
I remain neutral. Whipsaw and low vol are normal characteristics of consolidation, which the market is still churning in.
That place is a dump
It’s the ‘make or break’ place for the homeless.
Just registered to your site and had a hard time figuring the sum of 5 + 8 spam protection question. I’ve been living under an overpass since last year. Best part is I get free wifi from the adjacent Burger King and the occasional money collected at the off ramp using my homemade cardboard sign.
Thanks for being open and sharing about your losses.
Can I have a weekly 2% gain for life please?
only 2%?
That’s dope you’ve been to skid row. I’ve never actually been there, but i know some people who do some work there. I constantly find ways to remind my self of how unfortunate some people have it. Way to stay real.
I lived in LA for many years.
I know skid row because my commuting took me through the area. Several streets are packed with homeless people along the sidewalks. Police enforcement goes in cycles, but the basic deal is the homeless have to be somewhere, and that is where they are in LA.
Skid row in LA (and other major cities) is the end of the line, short of a hospital or death. At least they ended up in a city where it is usually warm and dry, but it is the end of the line for a person in LA with no resources at all.
There are people on skid row with nothing but the clothes on their backs. Wrap you mind around that, nothing. Those who cannot navigate the minimal government sevices have nothing.
This is not a social commentary board, so I’ll leave it at that.
100% correct. It was truly an eye opener when I visited LA 2-3 weeks ago.
nice post. feelya.
Also dissatisfied with my week. Ready to kick ass as well.
Good start for the week for me trading ASIA. How about u, frog?
Still watching /ES and /DX. I would like /DX to bottom once more. If it does and rebounds ..then I would be going short on /ES as it tops out. Worked like a charm on Friday.
/DX bounce off 50 sma
There is zero upside to seeing how the losers live. You are better off going to Park Ave., NYC, to see how the winners live. Positive reinforcement.
People can see what they DON’T want to be. That’s an upside.
NYB
NYB moving again
Bought $ASIA 29.45/46
Sold half $ASIA 30.36
Sold 1/4 $ASIA 30.83
wow ASIA, good one CA
Sold final 1/4 $ASIA 31.33
class. brb
Bought $NTRI 27.99
Sold $NTRI 28.02
longs: spwra jaso mdr
The worries about Helicopter Ben talking-up the withdrawal of liquidity today, during Christmas season, is not well-founded …as soon as he’s done talking – we should rise IMO.
Bought $NTRI 28.16
Sold half $NTRI 28.44
Short /ES 1108.5
cover 1109. possible bull flag
-.5
too early.
Sold 1/4 $NTRI 28.31
Sold final 1/4 $NTRI 28.16
solar names are breaking through
CA-If you’re around, I’ll be on a beach for Christmas week, what’s your number 1 book recommendation? I’m assuming “The Art of War” am I correct?
Thanks
SQNM nice looking chart… bullish continuation pattern?
NLST moving
AONE
LZB moving