Old And Unimproved
Just a reminder... tomorrow will be the next first day in the rest of the life of Dinosaur Trader blog.
See you then.
Monday, March 31, 2008
Thursday, March 20, 2008
Fuck "J. Lo" and Her Babies
We need to know the names of her babies? That's front page news? And we need to see their pictures?
This is part of what's wrong.
Sunday, March 16, 2008
Bear Stearns Bought For $2 A Share
I can't believe this shit...
I mean, this feels like "the game" must be over, or something...
NOTE: I'd love to hear from some of the older traders out there...
Friday, March 14, 2008
Monday, March 10, 2008
Every Politician Is A Hypocrite
They do not deserve your respect.
Sorry, I couldn't resist. Back to the hiatus.
Friday, February 29, 2008
I'm Taking A Break
The hybrid market is just over a year old and this blog is a year old in a little over a week.
No coincidence there. I started the blog because immediately after the hybrid began, I lost my ability to pull money out of the market consistently. After yesterday, I've gone back into the red for the month of February which means I've had a year to adjust to the hybrid, but something still is wrong with my trading. So instead of doing basically the same thing I've been doing for the last year and expecting something to change, I'm going to force a big change.
The fact of the matter is, I'm exhausted. While on paper you could look at my earnings last year and say I did okay, the number isn't telling the full story. I made over $100,000 last year, but $28,000 of that total came on one day in August. And half of it came in a three week period. The point, is that of the 250 trading days last year, I struggled for 80% of them.
The fact of the matter is, I'm exhausted. While on paper you could look at my earnings last year and say I did okay, the number isn't telling the full story. I made over $100,000 last year, but $28,000 of that total came on one day in August. And half of it came in a three week period. The point, is that of the 250 trading days last year, I struggled for 80% of them.
That's a lot of bad trades, lots of stress, and lots of confidence-whacking.
For the last 9 years, whenever people have learned what I do, they normally have the following reaction, "You're a trader?" I guess I don't fit the stereotype of what people think a trader should be. For one thing, I look like I've lived in the Maine woods for about a year.
For the last 9 years, whenever people have learned what I do, they normally have the following reaction, "You're a trader?" I guess I don't fit the stereotype of what people think a trader should be. For one thing, I look like I've lived in the Maine woods for about a year.
But really, people are just confused. They think traders are brokers... some of my closest friends still think I have "clients..." I don't think I have to explain the stereotype of a stockbroker, it's not pleasant. But traders don't want to sell things to people, and many, aren't overly interested in money. Traders are independent thinkers who want to test their ideas with action and be proven correct in the market. That said, there is nothing worse for a trader than to constantly be proven wrong, because it also means you're losing money.
Point is, despite my earnings, it's been a rough year, because I hate being wrong.
Anyway, the other thing people invariably say is, "Isn't that the most stressful job going?"
Point is, despite my earnings, it's been a rough year, because I hate being wrong.
Anyway, the other thing people invariably say is, "Isn't that the most stressful job going?"
To that, I've always answered, "No. You know what stresses me out? The mere idea of having a boss." Trading never stressed me out because I was in control of myself and my profits. I rarely had down days, I could make my own schedule... it was easy! I couldn't figure out why everyone wasn't doing it.
Well guess what? That's changed. I'm a little stressed out right now and have been, for the better part of the last year.
So what's the plan?
First of all, I will not be blogging for the month of March. I've been posting for a year, a lot, and I've never really taken time away from it to catch my breath. I love the blog, I've learned a lot from it, and I've made many good "Internet friends." On a certain level, I hesitate to do this since the traffic here is growing every month (I'd argue I'm out of the third-tier, actually) but hopefully, you'll all be back with me in April.
Once you began to blog actively, it permeates your thinking. I mean, if I'm browsing the web and see something interesting, I save it so I can post it on the blog. If I accidentally pay $40 for a pizza, I think about turning the experience into a blog post. Just because I won't be posting for the next month doesn't mean I won't be thinking this way, and I imagine that come April there will be many "lost" Dinosaur Trader blog posts that I'll be able to share with you.
As for trading? Well, I'm lacking in discipline. I find myself making the same mistakes over and over despite my understanding that I'm making a mistake. Hope isn't a good trading strategy (sorry Barack). This is unbelievably frustrating and I credit this blog with raising my consciousness about my trading to the point where I realize I need to step back and look at things anew.
For March I will be trying a completely new strategy which I will discuss more when I come back in April.
As for the VO, I've been impressed with the blogging of new VO member Ainkurn and he's graciously accepted the burden of "herding the cats" each day and compiling the post. I'll track my results each day and post them here on April 1st.
Well guess what? That's changed. I'm a little stressed out right now and have been, for the better part of the last year.
So what's the plan?
First of all, I will not be blogging for the month of March. I've been posting for a year, a lot, and I've never really taken time away from it to catch my breath. I love the blog, I've learned a lot from it, and I've made many good "Internet friends." On a certain level, I hesitate to do this since the traffic here is growing every month (I'd argue I'm out of the third-tier, actually) but hopefully, you'll all be back with me in April.
Once you began to blog actively, it permeates your thinking. I mean, if I'm browsing the web and see something interesting, I save it so I can post it on the blog. If I accidentally pay $40 for a pizza, I think about turning the experience into a blog post. Just because I won't be posting for the next month doesn't mean I won't be thinking this way, and I imagine that come April there will be many "lost" Dinosaur Trader blog posts that I'll be able to share with you.
As for trading? Well, I'm lacking in discipline. I find myself making the same mistakes over and over despite my understanding that I'm making a mistake. Hope isn't a good trading strategy (sorry Barack). This is unbelievably frustrating and I credit this blog with raising my consciousness about my trading to the point where I realize I need to step back and look at things anew.
For March I will be trying a completely new strategy which I will discuss more when I come back in April.
As for the VO, I've been impressed with the blogging of new VO member Ainkurn and he's graciously accepted the burden of "herding the cats" each day and compiling the post. I'll track my results each day and post them here on April 1st.
Thanks for reading. See you in a month.
Thursday, February 28, 2008
Shifting Winds
I haven't had to post a trade disaster since November I think... it's an awful thing to have to do.
But I really fucked up in BG today. My timing was wrong, I was using market orders in a thinly traded stock, I was pissed off... it was a perfectly stupid storm. I lost $1454 in this fucker.
Besides that piece of shit, I didn't have any massive losses... just no real good winners.
I just missed a great trade in EOG at the end of the day... this stock was nuts today. Check out the daily...
I caught one decent trade with Evolution today, a short in TGT below $54.
But overall, my day was a mess. I haven't had one of these in awhile.
Every trader suffers losing days. The most important thing is to absorb the loss with some equanimity, try to learn from it, and move on.
And here's what I'm taking from today... I keep making the same mistakes and I'm not learning shit.
Therefore something is going to change, massively, and soon. Details tomorrow.
Here's the stats:
P&L, -$1869
Best, TGT, $286
Worst, BG, -$1454
36,600 shares traded.
18 stocks traded. 6 winners, 12 losers.
Virtual Office, -$3704. SPX, -14.60, 1365.80.
Ainkurn, $484 on 1100 shares traded.
Ducati, $475 on 1000 shares traded.
Timmay, $318 on 2800 shares traded.
Wincity, $64 on 200 shares traded.
Denarii, $29 on 4400 shares traded.
Retardo, no trades.
OBAT, -$95 on 11,600 shares traded.
Evolution, -$1396 on 74,800 shares traded.
Dehtrader, -$1714 on 10,890 shares traded.
Me, -$1869 on 36,600 shares traded.
Well it wasn't a day for active traders. The VO got smoked, my real office got smoked and everyone differently. Funny, in a way, but not too funny.
Today was just choppy and trade was mostly directionless. The futures were mostly locked in 5 point bands. Volume was again consistent at just under 1.5 billion shares traded and the VIX crept higher and now trades close to 23.50.
Tomorrow is the last day of the month and we get hit with some eco-data. Could be an interesting day. At least, I hope so.
Meanwhile, go see what worked out for Ainkurn. He was the bright light in an otherwise dark VO.
Off to test out the law of gravity.
Wednesday, February 27, 2008
Dinosaur Trader's Tupperware Party
Just like IBCs Platinum Party, only with Tupperware, poor people and a couple hundred thousand fewer hits.
Thanks to my first 100,000 visitors!
The Doves, "Firesuite"
No daily post tonight... I'll try and recap today's wins and losses in tomorrow's post.
Virtual Office, $937. SPX, -3.30, 1379.50.
Ducati, $1059 on 600 shares traded.
Evolution, $791 on 20,600 shares traded.
Denarii, $119 on 2600 shares traded.
Wincity, $10 on 200 shares traded.
OBAT, -$82 on 15,600 shares traded.
Timmay, -$140 on 800 shares traded.
Dehtrader, -$179 on 10,410 shares traded.
Ainkurn, -$274 on 650 shares traded.
Me, -$367 on 35,000 shares traded.
The volume in the market really seems to have settled in to a norm. Every day it seems we're trading between 1.4 and 1.5 billion on the NYSE. In a way, I like the consistent volume. I wonder how long this will keep up.
As I posted earlier, the FRE and FNM news really spiked the market midday. Many traders in my office just cleaned up with those trades. Congrats to those who were able to take advantage of that volatility. And speaking of volatility, we got a bounce in the VIX today, up .82 to 22.72.
The VO had a crappy day, but no disasters, so no real problem. Update: Ducati did well...
Finally, everyone hates Gasparino as he's ruined trade in the last hour of the day. You can pretty much count on an irrational spike when he starts to talk. What a mess...
NOTE: Daily post will either be late or non-existent... I'm going out to dinner with the missus. We have a babysitter...
Backing Up Your Blog
Man, I was checking on Ainkurn earlier and I found out that Akalawoo's blog was hacked and all of his information was lost.
Awful.
So listen, here's an easy free program you can use to back up your blog.
If you don't like that one, there are other options here.
Tuesday, February 26, 2008
Hillary and Obama Debate In Ohio, 9pm MSNBC
Will there be some type of campaign changing moment here for Hillary? If not, the end may be nigh. Discuss.
Subscribe to:
Posts (Atom)
