I can’t say this has never happened to me before — because losing streaks are awful. You get loaded up with a bunch of stocks at the same time and you start paring them down one by one and it seems like you just keep booking Ls, when in fact you were wrong on the timing of one group of trades and not the fucking trades themselves.
After my magnificent virus trade victories, I edged into a number of stocks, mostly runners who reported solid earnings in an effort to see some continuation. Most of the time this is a high probability trade — eek out another 3-5% on a stock up big with momentum. Not a big deal. Not happening now, fucked face. All of those stocks are getting lit. Ergo, I sold out of IRBT, just about capping off my recent sojourn into stupidity, for an 8.7% loss, making it my 8th consecutive losing trade.
Very fucking nice.
My Quant is doing fine, up more than 70bps today — invested without emotion and growing without fear.
In my trading account today, 10 of 14 of my stocks are higher, so it’s not all losses. As a matter of fact, I’m up today — but I keep getting forced out of stocks due to breakdowns in price action. Many of those stocks will probably bottom and go higher now — but because I bought them at the wrong price — I lost the right to own it.
There are some names I will double, even triple down on. These stocks are low conviction plays and I’d hate to turn what seemed like a quick profit momo trade into an oversized investment just because I was too stubborn to take the L. Been there and done that.
The moral of the story is to fuck off. I know what you’re thinking: “The Fly has lost it. Had a little juju and now it’s gone with the city of Wuhan.” Well, you’d be wrong to ever think that about me. I have a mind like a fucking computer, constantly learning new shit — able to adapt and crush my enemies in head to head trading combat at any given time. I will overcome this losing streak and once again walk these halls in magnanimous fashion, accompanied by two slaves fanning incense in my wake.If you enjoy the content at iBankCoin, please follow us on Twitter