I felt good this morning, thin, healthy, tanned. I was up 2% and everyone else was having a mediocre day and because of this I felt supremely confident in my decision making process.
This is how is started.
Then I dove into BTCM — ETH miner and all, felt good about her. I saw the rally in cryptos and felt it would continue. Then the price dropped 4.5% below my basis, so I bought more at 13, original basis $13.83. The stock continued to drop, so I booked gains in my only other two positions: HVBT, BTBT — especially since they were in the same space. The stock dropped again and I declared “I am prepared to deploy a Martingale Stratagem” to the gentlemen inside Stocklabs. I reduced my cost basis to $13.26 with a third average down — representing 15% of my portfolio. At this stage I am on tilt because my daily gains are dissipating and I feel the pressure of doing something that feels wrong. Clearly the stock was going lower and there wasn’t any bids.
I deployed some money back into the market and had to close them out for additional losses. At the point I feel like a fucking moron.
Then tech at iBC announced our latest price movement tool was finished and launched. What the tool does is pretty amazing when paired with our volume tools. It measures the % gain of any stock on a 30 second, 1 minute, 5 minute, 15 minute, and 30 minute time scale. When deployed inside the platform, I see all. This doesn’t mean I am able to bring the fire. This only means I have more options available to me. A trader is only as good as his tools and his instincts. If he isn’t a good trade, he should focus on being a Quant or long term investor — both admirable and profitable avocations.
I deployed more money using these price tools and came out with some gains.
Like so many times when struggling intra-day, I came back to breakeven from a depth of -1.5%. I was tempted to sell it all — but then I reminded myself of the original thesis for being long BTCM — a long rich weekend of crypto buying was ahead, surely I didn’t want to miss out on this.
I closed the session -64bps and these blogs discussing my shitty trading are getting repetitive. But the good is nothing without the bad, the corrosive mannerisms of the markets tends to weigh on me and makes me pine for better days. Sentimentality does us no good and cutting losses in the face of so many facts is the very lynchpin between a good trade and a bad one. I permitted feelings get in the way of a good time and because of it — I ended the week down -0.27% — but up 0.6% for the month. I will have time to play with the new premium offering this weekend and I strongly advise you to start using them ASAP — if a member.
Away from my day trading, I have two other accounts, A best Ideas long term +0.8% and my Quant +0.78%.
Have a good weekend and stay healthy.
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and stay healthy.
a most annoying saying
along with best ever
Thank you for posting. The central committee has noted your location. Just before your holding crypto is made punishable by death, you will be visited with an “offer” to exchange your $million in crypto for .25 digi-bucks (enough to buy a gallon of milk)
See something; say something.