Queen, "We Are The Champions"
Also, we're really good traders... does that work?
Friday, October 17, 2008
The RO Report, "Trading Ain't Easy" Edition
I have to say, it sucks to write this post tonight, because the RO took a massive amount of pain today. However, it highlights an important truth about trading, a truth that has been easy to forget during this last month of volatility and ridiculous trading profits.
Losses are part of trading, sometimes big losses.
However, it also highlights something important about the RO. The guys didn't take any more risk today than they normally do... the difference today is just that they were wrong. What's amazing to me now, is how often they take that massive risk and are right.
The fact that today stands out like an intellectual at a Sarah Palin rally reminds me just how good these guys are.
The reaction from many will be simply, "Yeah, but they made such a massive amount recently, this is nothing." Fine, understood, but don't forget what a psychological game trading is. "Giving back" is the most painful trading experience... probably worse than losing outright. That's actually a constant debate... or, as Tennyson put it, "'Tis better to have loved and lost/Than never to have loved at all?"
And let me add one other troubling fact about this game... your gains are taxed, egregiously... so the losses, in a way, count double.
Anyway, I'm looking forward to watching these guys bounce back. For now, let's just drink the blood and put today to rest. Out of 28 traders today, 10 were gross positive, or 36%. 5 traders made over $1,000 gross, 10 lost over $1,000 gross. I was #6 of 28, or, very lucky to have spent half the day at "parent-teacher" conferences at my daughter's school.
Here are today's "Manservants"
"Chambermaid" - Trader C, -$93,753 on 581k shares traded.
2. Trader P, -$46,847 on 597k shares traded.
3. Trader B, -$37,548 on 374k shares traded.
4. Trader F, -$28,725 on 219k shares traded.
5. Trader A, -$28,250 on 843k shares traded.
And the "Bosses"
"Lucky Pierre" - Trader D, $12,421 on 864k shares traded.
2. Trader G, $2,478 on 74,000 shares traded.
3. Trader E, $1,467 on 69,600 shares traded.
4. Trader V, $1,414 on 71,000 shares traded.
5. Trader O, $1,339 on 19,600 shares traded.
Have a restful weekend.
NOTE I: There are only 2 days left to vote in the RO member post poll. Go vote.
NOTE II: "Trader D" sprayed enough to win the song pick, however, I was unable to open the link he left in the chat. So I'll post the song tonight. If Trader D gets in touch with me over the weekend, I will post his song as a "special dedication" to the RO.
The Daily Show Addresses "Joe The Plumber"
I knew they would have a great spin. Pointing out that he has done more interviews in the last 2 days than Sarah Palin has done since she was announced for VP was a great point to make.
Another Person Who Shouldn't Trade
I'm not sure what she thought she was doing... but she failed. And traders who fail, suck "fishass."
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