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
18,966 Blog Posts

Take Profits, Take Profits, TAKE PROFITS

I blew out of GRUB today — made some coin — what else is new. The chart looks phenomenal — but I didn’t want to be in that shit-house for earnings — slated to post in the morning.

Food for thought.

None of you know what you’re doing. You do not analyze fundamentals and you do not have access to Big 4 accounting firm balance sheet analysis and have no idea if your stocks will beat numbers or not.

REMINDER

You’re not investing. You’re trading.

REMINDER

You don’t know more than me. I don’t know more than the market.

REMINDER

When up on a stock, or even down, barreling into earnings — sell it.

Why?

Because you don’t know anything.

What you can control is the manner in which you decide to trade — smart or stupid.

Leaving the outcome of your trade to fate or luck is stupid. You can risk it if you want — sitting atop gains, or feel nihilistic. I sometimes do it. But speaking to many of you the past year, getting to know your struggles — you have no business holding stocks into earnings — especially after a healthy and bright run in stocks.

Now go to bed.

If you enjoy the content at iBankCoin, please follow us on Twitter

Leave a Reply