I’m not really expecting anything in the market today, but if I were to make a prediction it would be that the market will start lower and though it might move higher, it will end lower. There could be a lot of manipulation today, as many traders will not have a general sense of where the market will be headed. It should be going lower because nothing has been fixed for the major financial issues, only things have been postponed.

Being classified as a daytrader with an account balance over $25,000 would be fine. Being classified as a daytrader or a pattern daytrader without that balance gets people on the principals bad list, and you have to clap erasers afterschool or clean gum off from the bottom of lunch tables. Or they freeze your account. Then you make like Lindsey and fall off of trading blogs.

There is something in the air. I can smell it just like my great grandpa Enus can feel when its going to rain in his left knee. The air smells like… Fed. It’s going to be another rate cut, another step in devaluing the American dollar. Another step in helping the immediate stock market, at the expense of the long term market. Bernanke will soon start pouring money from all orifices, and I’m here to collect.

I bought calls in C, but my timing was off just enough that I sold for a loss before watching that I nearly hit the perfect bottom of the day’s trading range on the stock. Or close enough. So I’m going to wait until I have more money in my account or I’ll probably only do daily round-trips when it’s almost a lock that I profit.

I actually sold an option for a profit. I know, it’s really a momentous occassion on which I’ve decided to celebrate by buying another put in another stock. It’s really something that I’ve been hoping to do for a while.. you know.. making a profit.

I’m doing too much trading. I started on another trader attack and just can’t get back to it because of work obligations and my requirement to spend all of my trading account money. So here goes another trade, which I hope to be less of a failure than last time, which is really not that difficult to attain.

Here it is, the post that many of you have been waiting for.  Sadly, this post will likely have a larger view and reading count than other popular posts on Retard Trader like Timothy Sykes psychic detective, Trade Authorization: No, and the lead into this post which is Losing thousands of dollars.  The reason for the potential higher reading count, I have failed.

What’s it like to lose over $7,000 (yes, over seven thousand dollars)?  Well.. it pretty much sucks. I don’t know another single word definition to help what I’m feeling, well, not one that I would put on this website at least (this site is SFW, though not work related to most people).  Let me share my pain.

I got to see my puts in BIDU sink to really sickening levels.  I watched JCP go over $51, making my Feb08 $45 puts worth less than clicking a button to sell them.  And of course, C isn’t going anywhere near my calls of $30.  So I didn’t sell.  Again.

JCP is not going my way.  Actually, I guessed or hoped in the wrong direction.  It’s painful.  Of couse, if I were stupid I would have just settled for a loss instead of waiting out something to happen, like for me to lose all my money.  Can I really be this wrong?