This trade is a clusterfuck of emotions and bad decisions. See that big assed red candle on the left? After a crazy day yesterday with Cassava Sciences Inc increasing 20$ over the day, this morning there was a crazy drop BEFORE the markets even opened from a high of $48 down to $39 over the course of a 5 minute period. Here’s where the fuckery comes in.
I quickly analyzed the situation and decided that when the market opened we’d get a bounce back up, probably half way around $45. So I bought shares in a market when it might have been smarter to sell into the weakness. No, not your superhero buddy Zaal! No he BUYS into a selling market on a hunch.
Well this idiot was right. When the market opens (that first big green candle) it did start crawling back towards my target. I actually had a limit order in at $44.37 so that was going to be our OUT! Other than the little red Doji candle at 0935, it continued up as expected with steady volume. As it neared the top of the 0950 candle, it seemed the momentum was slowing. I started to get a bit nervous and thought how stupid it would be if I didn’t even try to take some profit now that I was in the green. I took two partials and sold 50 shares @ $43.16 and $43.21 with my average cost of $41.31.
“What does that mean for you, idiot?”. It means that I made some money. How much? On the first 50 shares, I made $92.50. Second 50 shares, $95. But I held the last 50 in the hopes it might get higher and it did with me finally selling my last 50 shares @ $44.37 for a final profit of $153. All of these numbers are documented on the image above if you want to click on it.
So I got triple my daily target by:
Using my limited trading knowledge
Knowing what happened in the market on the previous day
Willing to risk some money to get more money.
If I’d not known any of those three things checked off above, I wouldn’t have taken the trade.
Straight talk here: when the stock was at it’s lowest, if I’d decided to close my position at max loss, I would have been out $600 but I didn’t because of the three items listed above.
Words to remind yourself how stupid you are sometimes:
You are a fucking retard. Did you know that? Are you aware that you are so stupid that I risk being labelled intolerant in order to address you as FUCKING RETARDED? There will come a time where you are punished for your hubris. YOU GOT LUCKY TODAY PUNK. I honestly believe that. Yes, the news from Powell saved your ass. Imagine being a dollar behind on a SHORTED stock and then having a safety line sent to you from an American economist. You should send that fucker a fruit basket. Put in stop loss orders and adhere to them, idiot.
I’m hoping to have more of these and with the profits generated by analysis rather than just luck.
I’ll also give you a link to the Chartlog share here. This was such a great trade and something that really makes me think this is something I could do on a regular basis. Though I’ve had some success in the rest of the month, this was a top day.
This month has been pretty successful but I don’t want to put a whammy on it by boasting too early. I’ll do the same thing I did back in March on the first of October with a short report and analysis of the month.
This has been one of the more interesting things I’ve done over the past few years. It’s definitely one of the hardest and, at times, frustrating. My logical mind wants to bend the markets to my will and define them in static and concrete ways. It can’t be done and I need to call on the other trait of a software developer and think abstractly to assist in defining rules and seeing patterns in the charts.
Anyone that wants to follow in these steps please be warned: this is not easy and it’s not something that comes quickly. I’ve been messing around with the markets since May of 2021 and only now am I starting to feel like I’m semi-competent.
On my walk today, after a stop at Starbucks for my double stars incentive, I finally realized how lucky I am. It was a beautiful day, I’m on a walk in the middle of that day, delicious coffee in hand and I’m smiling.
And it hit me: I feel gratitude for what I’ve been given and the freedom to do what I want over the past 6 months. I don’t think I’ve ever uttered, or even thought, that phrase before.
Now don’t go crazy on me: I don’t feel gratitude towards some old person with a beard who resides in the clouds and determines if I’ve been naughty or nice and get to spend my after-life in heaven or hell. No, I think there’s something deeper at play and I just wanted to acknowledge it.
This is the type of thing I’m exposing myself to these days. So informative, yet quite dry. There’s so much to learn. Know what I learned today? Not to waste my time waiting to be right. If you’re a friend of mine and you want to know more, ask me what I mean. Five hours to make $35USD. SMH!
One of Bill’s guests describes a few problems that may be contributing to why Men are experiencing such hardship in the new society we’re building.
If you immediately threw your hands up to say there’s inequality between the sexes you might want to give some critical thought to the few things that are mentioned here and then dig into the internet a little bit to counter-balance what the historical rhetoric has indoctrinated you into believing.
I think many people aren’t aware of these facts and it might be worth the time to give this a watch. I’m lucky that I don’t have to deal with many of these items but being an ugly guy with a great personality and sense of humor, I wouldn’t do well on a dating app.
That was irritating. I was on a phone call with a family member and they mentioned how upbeat I seemed. I know I’m happier but to have it acknowledged by someone that was only talking to me on the phone was weird. Backhanded compliment, if you will.
It’s been six months since I had to deal with the problems of a boss who didn’t care, an institution that only acknowledged (or offered assistance) when we were in the news for something cool or won an award and the knowledge that things hadn’t changed in three years and probably wouldn’t for the foreseeable future.
There’s a number of things that proved to me that my job was killing me.
The first is a loss of 35 pounds. This one is easy to attribute to the additional exercise I’m getting with my long walks but might also include the sedentary life of an office worker and easy access to ‘snacks’ on the campus. I’m definitely eating better, and less, than I was when I was in the office. But there’s something else: stress. I used to have a midnight snack and I think it’s because I was being effected by stress. This one is difficult to put my finger on because it’s behavioral and I think when we’re looking at ourselves, it’s the behavioral things that are hard to verify.
Next on the list is my sleep schedule. I’ve always been a night owl, not liking to go to bed before midnight. Not a preference I just wouldn’t be tired enough to get into bed and not stare at the ceiling for an hour before drifting off to dream-land. These days I’m up at 0600 to prepare for the markets and then I’m up all day. I start nodding off at my desk around 2100 and finally surrender to the bed before 2330. This is new behavior for me and I’m enjoying it. I’ve got more to say about the ‘Early to bed, Early to Rise’ topic but I’ll tap it later.
I’m happier; I know that. My life is less complicated than it was and I’m the one responsible for that by making the decision to walk away. I need to make my wife happy, keep myself in decent shape and find myself something interesting to do with my days that will provide me with an income. That last one is a work in progress but I’m working on it.
You are going to lose money and it will end this endeavor and then where will you be? Sitting at a desk speaking into a headset asking people to turn it off and on again. What will it take? At some point you’re going to ignore and hold a loss until it clears out what you’ve made already.
We need to be ready for losses but they need to be managed by YOU, not by luck. And that’s what happened today. You got lucky. I don’t even want to look at the chart anymore.
This was a three hour fucking trade that NEVER should have happened. Had you taken the loss and then reversed your position, you would have made MORE money than you just did ($37.85). Sure that’s still 12$ an hour but is that the reason you’re doing this? To make minimum wage risking your own capital? That’s not the idea.