Monday, April 9, 2007

No Impact Man

What a great idea for a blog.

For one year, my wife, my 2-year-old daughter, my dog and I, while living in the middle of New York City, are attempting to live without making any net impact on the environment. In other words, no trash, no carbon emissions, no toxins in the water, no elevators, no subway, no products in packaging, no plastics, no air conditioning, no TV, no toilets…

My hero. This guy is going to be on Colbert tonight.

Maybe I'll be the no-impact trader? I guess with my recent performance, I already am...

Anyway, check out No-Impact Man and his blog. It's great to read along as he goes through this experiment.

Virtual Office, $3800

Misstrade, $3070 on 8000 shares traded.

TradeWhileWorking, $1341 on 2600 shares traded.

NYSE Scalper, $300 on 66,600 shares traded.

Evolution Trader, $104 on 54,500 shares traded.

One Bad-Ass Trader, -$137 on 10,800 shares traded.

Me, -$878 on 32,800 shares traded.

So, on the first day of the Virtual Office, Misstrade comes in to takes the cake! Go check out what made him successful today.

The entire VO was into the green for the day at $3800.

Simply not engaged properly

I woke up late this morning, threw a half hour of research together after the long weekend and started trading. Not the way to do things.

But you know, it didn't hurt much. I was down a couple hundred dollars all day. Nothing too bloody. No awful trades. But I wasn't paying attention. I was surfing the net. I had a really loose attitude all day. And in the end, I paid the price.

It all started at around 1:40. That's when I realized that CNS was up a point from where I entered. It had trended up nice and easy from where I bought at around 40.07 but I had sold AT MARKET at 40.05 and 40.06 because I was nervous about it. I really had no other good reason. Just that things weren't really going my way, I had no big winners or no big losers and I believed the same would happen with CNS, so I just sold. So at 1:40, when I realized I left a point on the table for no good reason, I was pissed.

Then, a stock I was long, POT, crashed (definitely Freaky Hybrid Trade-Worthy). In a matter of minutes, I went from being down between $100 and $200 to being down $500. I made matters worse by churning POT a few times before he broke lower. Anyway, when he finally did break lower, a little before 2pm, I looked and saw TNH, another fertilizer stock, selling off. I also noticed that AGU and MON were both up... so, with POT and TNH breaking I thought it was only a matter of time before AGU and MON broke too, so I started getting short.

Again, wrong decision.

Interesting, that one poor decision led to a chain reaction of many poor decisions. Definitely something to watch out for.

There are a couple of old sayings that come to mind... one, "Don't throw good money after bad" is nice and clean. Another, more appropriate goes something like "If you shit in bed you only make it worse by trying to kick it out" is much dirtier, but really more to the point. I went down kicking... and as it turns out, screaming.

Once I got squeezed badly in AGU (and of course, I had to throw extra shares onto my position to make up for my losses in the other stocks) and MON I was down close to $1000. At the time, I was kind of shell-shocked... how did this happen? Now, it all seems very clear to me.

I was never on my game today and so I was easily thrown off... not even by losing money at first... just by simply recognizing that there was money to be made and I "missed it". POT just threw fuel on the fire and the rest is history.

If you're going to trade everyday, you need to focus everyday.

Almost forgot the stats:

P&L -$878
Best: MTG, $166
Worst: POT -$324

shares traded: 32,800
total trades: 195

Nothing comes easy here... when it does seem to come easy, it's only because you're prepared.

Back Spasms

Well, it has been a long weekend here at the cave. I had big plans too. I was going to get some work done around the house. Update the blog... Instead, on Friday when I was working with my Dad, pulling wallpaper down in one of our bathrooms, my back, for no obvious reason, just went into painful back spasms.

They haven't really quit yet.

So, no "history" post, no updating of the blog... and I apologize. I just couldn't stand to sit at the computer, I spent most of my time laying down. By the way, back spasms are a concept that toddlers simply don't understand. And it's awful because they want you to play and do stuff but you just can't... makes it mentally as well as physically frustrating.

So anyway, it gave me an idea. Perhaps one of the reasons my back is in such poor shape is because I sit here at the comp all day, lurched over like a vulture searching for opportunities. My wife who is very much a yoga/movement person has been telling me for years to "get up and stretch" and stuff like that. So now, I see she is right.

Check out the clip below for easy ways to keep your back healthy even if confined to a chair all day!

Finally, do any of you have an excellent office chair to recommend? I have this crappy one that offers no back support whatsoever that I've been using for years. Time to trash it.

Thank you, Wade Dubielewicz

This video is pretty bad, but it's the only one I could find on Youtube so far...

Go Isles!