I had a good day of profit taking, +9% on a doubled sized PHUN and +11% on PUMP. Half of my positions traded lower — but none of which concerned me in the least. I am exercising a bit more patience with them — due to my 35% cash position, and a firm belief that a fantastical rally to cap off April is just around the bend.
It’s awfully disheartening trading inside of a boring market. Often times, tapes like this causes me to make errors — take large bets, or feign myself into thinking a pivot point is imminent. Truth is, you’ll be better served not shoring boring tapes. You may not like it, and you don’t need to buy into it, but you probably shouldn’t short it.
Want to see charts and in depth analysis on the present situation we find ourselves in? How about no? How about you go expand your critical thinking by delving into other subjects? Go read some classics, watch some cinema, enjoy cooking a great meal. Being a great trader, or even a good one, takes more than just understanding finance. It’s psychology more than anything else — having a keen understanding of who you are, your needs, time horizon, and how to execute on a plan without being tricked or fooled or conned.
Today the Cathedral of Notre Dame burned down — tomorrow it’s your fucking stupid portfolio of shit. Get right and understand, you’ll never get rich trading — relegate yourselves to a life of accumulation and thrift — else get wrecked upon the rocks of time.If you enjoy the content at iBankCoin, please follow us on Twitter