Pain comes in waves
As I sit here, somewhat hoping that BIDU announces complete failure to meet the street’s expectations, I think about how my recent run in trading has been painful. Perhaps this is one of those “comes in threes” things, like celebrity deaths.
JCP is killing me. So is C. And now BIDU. There’s my three. Great.
So what should I be doing, now that I have nearly no money left and have expended myself so much that I’m getting a margin call (I’m not going to pull a Lindsey and disappear though)?
BIDU just announced 4th quarter EPS of $.87, the street was expecting $.87. Does that mean the stock should go up? It did, but I’m not sure why meeting expectations is a good thing, when other companies meet and beat and wind up getting kicked for it.
Well, as BIDU passes $270 (update: $287) now I think to myself, at least I can still blog without money.
3 Responses to “Pain comes in waves”
|
|
Trading is exhaustive, in the beginning you are energetic, you care about your rules, you buy and sell quickly, follow common sense, stay rational.
Then the exhaustion takes over, you can’t follow the rules, you become emotional, can’t act quickly, give yourself excuses for not following the rules, your responses become slower and slower… until you are done! Finish all your capital, get margin calls…
if you are lucky and may be wise you can stop a little early.. and save some capital… take some time off, relax your brain, get back your energy, put some ideas together and start again… fresh, energetic!
[...] want to use Michael’s BIDU call as an example. Michael Trader bought a Mar08 250 Put. Today it closed at $21.50. Since the put is out of the money, the price is [...]
Thanks fiaz, this is really logical and kind thinking. Most people are waiting for a train wreck, waiting for a full failure.
I’ve actually been trading for a while but figured that having a website where I could tell everyone about my trading seemed like a good idea. I use to have a blog on someone else’s site, but didn’t get enough attention I guess, so instead I’m here. Of course, the hope is that the site itself makes money, but until it starts doing that it’s more about my ability to entertain others enough to make them want to come back.
What I won’t do for entertainment!