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
23,495 Blog Posts

FULLY LONG INTO THE FIRES

I was forced to endure seasonal allergies all day, sneezing in between trades and then laid siege to by people around me — pestering me with inane topics. Working from home “trading” isn’t the illustrious life one imagines, especially when trying to concentrate on things that are difficult.

I closed as my SESSION FUCKING LOWS and I knew I would, no matter what. There are some days that I know that no matter what I do — the end result will be disaster and this was one of those days, down 1.15%. I have now squandered all of my gains for April and sit before you FULLY LONG and leveraged into what very well could be a heart attack rout at the open.

Interestingly, my static accounts faired much better, down less than 40bps, which basically means I am doing more harm than good out here attempting to outsmart the tape.

My entire bull case is based off fantasy and/or the idea Israel lacks the capacity to hit Iran and that somehow not bombing Iran is bullish for stocks. This is pedestrian level thinking and I know it. Even still, I decided to commit to the upside only because the chop was doing me no good. Instead of wallowing in neutrality, unsure and unimaginative, I thought it best to place my testicles on the table whilst speed chopping carrots.

I do have some cash, which will be deployed in the morning in the event my gambit turns into catastrophe. My downside is 2.5% — after which I will dramatically limit my trading to piecemeal and only rewarding myself with greater access to capital after proving worthwhile.

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