Consistency when wrong isn’t good

Sometimes when I have a feeling about a stock, I ignore it.  Same goes with charting, fundamentals, and more.  As many traders have followed their beliefs or interpretation of charts and lost, there’s no guarantee way to pick a winner.  Welcome to my world.

When I started this race I realized that I would have to be careful with my picks.  Also I believed I should stick with the stocks I’ve been following for a while as I can more accurately guess their direction with a little more accuracy than a coin flip could bring.  At some point I changed my thinking from being that of patience and intelligence to being a blind picking function.  That will kill more than save in the trading world.

When the market opened this morning I knew that it wouldn’t be my day for selling with profits.  I wasn’t sure at that time how bad it would be, so I’m going to enjoy the pain of knowing on Friday, when I have options expire worthless.

This is a Scottrader screen shot of this morning’s opening with the stocks that I keep on a Scottrader list:

(click for larger size)

At the start BIDU was already up 2.35%, which is more than I would like, and in the opposite direction as I would have chosen if anyone cared to ask me.

JCP was showing a first trade of upwards direction, bad for me.

C also wobbled around even but turned red.

I’ve been pretty consistent recently with picking the wrong direction of stocks.  Why?  I’m ont sure.  Let me break it apart…

JCP: This is a stock that Lindsey (Lindsey, are you still alive?) use to trade and I only started trading in order to play games.  I would pick the opposite direction of Lindsey in hopes that it would entertain people.  Yes, I pay money to entertain people, I am a retard (sorry Squid, you might not like the word but it’s not really a bad or insulting word).

BIDU: I assumed past performance was an indication of future performance.  This is just dumb and I should be punished for it.  The only saving factor will likely be earnings that BIDU will be reporting this week, where I might get lucky.  If not, I’ll be hurting and could lose to Lindsey, even if she is missing.

C: There still tells me C has a future, but I should have gone with March instead of February, or puts instead of calls.  HA HA.. seriously though, I just went wth something that I should not have and will pay dearly for it.

With this much against me, will I even be able to make it through February without being broke?