Insanity
You may be sick of me breaking my trading rules all of the time and then whining about it. Imagine how I feel... it costs me money.
I don't have much to say about today. I had some good trades early in ARD (short) and LAZ and AB long. However, once again, I ate those profits up with lots of small losers. So at lunch, when I walked away, I was up a little.
I went to the park for a few hours and got to enjoy some time with my wife, daughter and some friends. I had a great time, it's perfect weather here.
But when I got back to my desk at 3 I was reckless. I started buying MON when I thought he was popping out of a base to the upside in the 65.10 - 65.20 area. He never got above 65.21 but I kept buying even as he went against me for 20 cents and broke the fig. I finally washed out of the position in the 64.90s and decided it was time to short.
I got short in the 80s and watched the stock descend to the 70s. Then it popped back up into the 80s where I short more. This time, it didn't break .80... it just hung around. Then it popped up and I got out of my position at .95 losing a dime. That wouldn't be a bad loss, but for some reason I was trading MON (both long and short) with more size than I normally do. I lost $500 in the trades altogether. An awful way to end what was otherwise not an awful week for me.
Like I said in the VO post, Einstein definied insanity as "doing the same thing over and over again and expecting different results."
When I am done with this post I am going to write that quote on a piece of paper and hang it on the wall behind my screens. I need something to change the way I'm doing things around here. Because really, I'm just spinning my wheels these last few months and I'm sick of it.
One step forward and two steps back gets old fast when you have a family to support.
Here's the stats:
P&L, -$520
Best, AB $151
Worst, MON, -$752
shares traded, 36,800
stocks traded, 18, 8 positive, 10 negative
total trades, 182
4 comments:
Dino, this focus on the family is making you trade scared.
You've seriously got to figure something out there.
I don't mean to neglect your family. God knows I've got my own to support and I knows how much it weighs on my mind.
I'm just saying that it seems a regular occurrence for you to write about losses and then also say that you've got to support your family.
If I'm off base, don't take offense. I'm just trying to help.
Wood,
You're spot on.
I need to separate the two. Perhaps trading from home isn't the best situation for me to be in during a slump, but right now, it's what I've got.
Today we walked over to a friend's house after dinner for some drinks. On the walk back I told my wife that I need to get a new sense of professionalism about my work.
To that end, starting Monday morning I will be using a very regimented research schedule and closing the door to my office.
Also, I'm happy you pointed out how I pair those two things, losses with thoughts of my family, like you're a friggin therapist or something! I hadn't even noticed that I was doing that.
Thanks for your insight Wood, I think it was a good one.
-DT
As I say, separate church and state go to work outside the house. It did wonders for me as I did this three years ago and it helped immediately having an office outside of the home.
Church and Politics just don't mix dino. Get an office is my two cents.
To the one on the flam
Boy your temper just toss that ham
In the fryin' pan
Like spam
Feel done when I come in slam
Damn
I feel like the son of sam
Don't make me wreck shit hectic
Next to the chair got me goin' like General Electric
EEEN!
The lights are blinking
I'm thinking
It's all over when I go out drinking
Oh, makin' my mind slow,
That's why I don't fuck wit da big four-o
Bro', I got ta maintain
`Cause a nigga like me is goin' insane
-gt
Post a Comment