This was for the best. I have way too much time on my hands. Overanalyzing the market and re-evaluating my own holdings by the minute are a rough way to spend idle time. They are also terrible habits to build a trading strategy around. In my own mind I have known this for a long time but have grown to love the thrill of the hunt for that next big trade.
After a nice run of bad calls on my part it seems like a perfect time to call it quits and move on. Losing money is one thing but I was losing time. (Thank goodness I wasn't paying myself by the hour for the "work" I was putting in or I would have been broke years ago....)
I have a little guy who is getting to that age where piano recitals and little league games will fill my time. I would hate to miss out on enjoying those things because of some trade that went sour because of some obscure election half way around the world or because the unemployment numbers didn't hit my estimation. (Which is funny because I'm unemployed.) :-)
So really this is an easy call.
Thanks for your kind words and I'll check in every now and then....
I'm as serious as going long on margin... (...or in my case short on margin.)
I'd wish you luck but I know you don't need it... ;-O
I'll be fine. I'm lucky enough to be in a situation where I can cut my losses and move on. Trading was fun for a while but I just hit a bad streak and I'm taking as a sign to do something different with my free time. In the last few days that I have cut back trading I realized I was dependent on that rush I would get trading. It was/is close to an addiction for me and that never ends well. So I'm going to go into "detox" for awhile and maybe I'll stop waking up at 2 in the morning to check on the Asian markets sooner than later. :-D
As B.B. King says, "The thrill is gone...". But one thing that was good was being able to share ideas with some fine folks like you and Ralph. Happy trails...
I closed out my Scott trade account and I'm moving on. I tried to leave some funds in the account to play some options but Scott trade yanked my margin and options abilities so closed it out completely. Time for me to get a new hobby. Happy trading...
p.s. Ralph...you know where to find me if you ever want that little getaway weekend. Thanks again for all the schooling...
I'm out of here...I closed out my Scott trade account (after they stripped me of margin and day trading power because I reduced my funds below 25K) and sent the cash to my "investment guy". I'll let him worry about it for now on. I'm going to resume my gambling at the casino....where it belongs.
Best of luck and go easy on the guppies. I'll check back in now and then...(just to guess your BA level)
Is this the strongest you have seen this POS look for more than a day or two?
Good thing I'm broke or I'd be broke.
p.s. scleung is on the road...
Wouldn't the master have sold yesterday and bought back in the morning today? You have to take profits with this POS.
It's all gobblygook...just flip a coin...it's as accurate as Cramer.
SPY would have been a great trade today...both ways. It started down big time rallied back and then tanked again. It gained back $1.50 and then gave almost all of it back. Good stuff if you can time that right. I almost bought some SPY calls in the morning but I was still stinging from my morning UVXY #$%$ kicking.
UVXY and me are like water and oil. Trust me. As soon as I move on...this thing will crater. And when it does...please, remember me. (I will accept all donations)
p.s. If you want to look me up...I'll be the man...living in a van...DOWN BY THE RIVER! :-D
Although I won't be taking King's advice this time he has given me more good advice than bad. Which is a surprise because I usually glom onto his doozies and ignore his genuine words of wisdom.
That is exactly what happened. The guy pretty much admitted as much but still laid it at the feet of the SEC. I look at like they did me a favor. Now I'm going to go back to making an honest living stealing rain gutters and scrapping the aluminum. ;-D