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
19,609 Blog Posts

Sitting on Gold — Waiting For Late Stage Crash Off the Top

I made a stupid trade this morning, buying TVIX into the hell storm. It was an emotionally triggered trade and I ended up closing it out for a 7% loss. My losses have been few and far in between lately, sublimely position in gold and trading the inverses with supreme abilities. HOWEVER, I am cognizant of my where my strengths lie, which is more of a general direction trending market. The intra-day stuff has poleaxed me incredibly over the years and I’m mindful to be careful about falling back into the emotions of this game.

This is a game that requires extreme zen like concentration and a very steady hand. If you’re too soft or hard, you’ll bend and break. “The Fly” was made to trade markets, no matter how harmful or ebullient they might be.

Going forward, I’ll keep a large cash position, a permanent gold position, and intermittent trades that lean towards end of day.

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2 comments

  1. skunkbuttstew

    Ebullient! Nice!

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  2. mx2101

    My opinion- No one is bigger than the market. Not even Trump’s ego. Trump will eventually capitulate to market participants. My guess is financial markets would like Trump to shut up and find other material for his reelection campaign.

    In the meantime, trade well. Best wishes.

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