I was pulled and thrashed, my weave drawn and yanked into the streets — where I was curb stomped with a mean spirited heave. Selling DRIP and SQQQ was like lifting a weight from around my neck. It was causing me to be angry and greedy. My losses on both positions, each 5% of my overall trading account, was ~8%.
Replacing it, and much more, is the following.
$COUP, $SSNC . $MNK, $INCY, $W, $SEND
Why am I chasing here? What if I’m wrong?
Well, I’ve been wrong plenty of times in my life. I started off wrong, born into the wrong family, in the wrong time period, in there wrong neighborhood, went to the wrong schools and so on and so forth. I’m accustomed to loss, and even expect it. Persevering it what I do best — dealing with the pangs of defeat and punching it directly into its jaw — shattering it to one thousand pieces of bone.
I’m now 70% long in my trading account — 100% long in Quant. I’ve been 100% long in quant forever — and it’s +5% this month, whilst deployed fully defensive in value stocks. The balance of my cash will be used, perhaps errantly, to buy more next week.
I’m looking for a minimum upside in the QQQs of $170, maximum of $175.
There’s the story you should write.
I’m still short biotechs and home builders. And long hard-working, non-entitled, non-self-pitying, Chicoms as they break out ….as well as silver and dope or course.
Ha ha perfect. I happen to like bleeding redalert overbloated systemic historical bubble levels. If they wanna take us right back to them, CONTRARY TO WHAT THEY THINK I MIGHT FEEL, id love it
this is a psygame
to a big extent
i can play it
as well as they can
I have been on this board for a month reading everyone’s comments. I have to say thank God I’m free of my demons, not trading like any one’s of posters. I was trading like the Doc, and almost believing that I have been cursed by someone I may have wronged.
What kept me in trading was own ability to pick tops and bottoms. So I should be rich? But I often lost track went, 100% wrong direction, lost everything. I could have gone into deep D if I had not made money in RE, investing in CA housing after 20008 collapse. I am a GP in real life and have a Proustian interest in psychology. Trading has taught me how twisted & wrong our minds working can be. Money, like sex can screw our minds in ways we are unwilling to admit. More than sex, people like to talk about money. My first advice to novice; before riding a train we make sure if it is going N or S. Extremely simple advice, But our clever, egotistic mind will always screw the simple answer.
I was at a mental state where Doc is currently, added cash to my blown account just before christmas, feeling bottom is at hand. And started a no holds bar trading in energy and tech. trading mostly near term options, ATM/ITM. I had only two down days since christmas and I am up 350%, 18% today even with collapse of WDC and INTC holdings
I still don’t know how I will do in sideways market, prob slow down, sell calls, buy inverse xxx etfs?
To a novice, I say “good luck”.
Put some money in real estate. Invest in your business- or yourself. If you must invest in the markets, put about 30% in an all world ETF like VXUS, about 30% in SPY, and about 40% in IEF. Then call it quits.
Trading is for people who really enjoy it enough to make it a second job. It can pay well but most lose, and the irony is that most people know enough that they should make money, but don’t, because of emotion.
BTW, +1 for not trading like anyone else. You can borrow ideas from others but your style MUST be your own.
There are traders here that I suspect are better than I, but I dare not try to copy them.
I’m with you. Not that it matters.
ema 13/34 … SnP … a picture is worth a thousand word