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
19,110 Blog Posts

Trading Environment is Conducive to Winship — But the Risks Are Abundant

I just sold SEEL for a 10% loss and NDRA, a double sized position, for a 3.5% loss. This is a perfect example of how trading can fuck you and not permit you to appreciate with the overall market. You see me doing crazy shit here every day; but let me accentuate a point that I’ve mentioned here before.

YOU WILL NEVER GET RICH TRADING.

Let it sink in.

I’m sure there are people who do get rich trading and that’s great for them. There are also people who get rich by playing the lottery. That doesn’t make playing the lottery a high probability strategy. You will make the bulk of your money by having a diversified portfolio over an extended period of time.

Case in point: My Quant — now up nearly 4% the past week — vs a paltry 2.2% gain for the SPY.

That being said, I cannot help but to feel the rush of a good trade — which is why I still do it.

I bought CNAT here — for the glory of it all — hoping this too will go parabolic and rinse away the bad taste in my mouth left by NDRA and SEEL.

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6 comments

  1. edge

    This market is just plain goofy.

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  2. ferd

    Short XHB

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  3. joyous__ending

    Capstone and Quant helping me stay disciplined.
    My basket is beating Quant today! Hope that lasts.
    If you are frustrated, give Capstone a try. Accept that there are others (Fly) who know the market and its traps and opportunities better than you.

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  4. MSGT HARTMAN

    +22.93% YTD

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