That's how I feel today.....I got caught trying to go short @ the open and the obvious happened...I feel like an ass!!...I guess that stupid GDP report suckered me in even though that kind of stuff is BS to me I bought into it ..Then on top of that, I presumptuously felt that the 10am New Home Sales could drop us lower even though the high was not "officially in"(and I f'n knew that) Damnit!!......totally don't know why or what the HELL I was thinking.... impatient, undisciplined, and careless. Plus I get stopped out for 3pts a full point over my risk!!! .....I clearly was not prepared mentally...The sad thing is; I've been long all week. But, I guess to use a basketball analogy; I was getting too fancy with the ball and "Got Ripped"....lol ...I know in theory I could have "got back in"...But, in my few years of experience( 5 years)..I learned never try to catch a moving train once it leaves the station...Anyway I Blame No one for my Stupidity and the only reason why i'm mentioning it here is because I just feel like venting so don't mind me....LOL..... Do you ever get to the point when you know what to do and you do it..Without out thinking yourself?..... I have these spells where I get so Damn cocky and complacent.... I start catching the exact H/L and then I want conduct personal seminars...lol.....I admire guys like Michael Jordan, Tiger Woods, Lance Armstrong, or a Bill Belichick. Those kind of guys ALWAYS maintain that mental Edge...They never get too cocky or dance in the end zone...There very serious, disciplined guys...amateurs make wild predictions that are irrelevant to the moment in time.... There's no need for emotion when you know!!....Because intuition can be articulated and cultivated into a very tangible element in trading IMO.....Like I said I m just venting and I'll get over it but, I' just wish I could stop doing Stupid S*#t!!....But yeah whatever, I'll just go on another winning streak and then forget about it until of course I do something else stupid....LOL...I laugh but it's not funny.
i used to be a day trader, since 4 years ago i split my investment into 2 portfolios, one is buy and hold for long term investment, while the other is for short term trading. when i compare these 2 portfolios' performance today, the first one making more than 100% profit, while the return of trading book is much lower than that. after reviewing my stractegy and prefromance, for investment book: i study, always do the reseach first before buying, which is I think before acting. for short term trading book: i usually buy/sell under the influence of market sentiment, which is I act before i think. I decided to close my trading book since 1jan06.
Thanks man...It's just annoying that's all.....I can see what I feel and the market tells me I was right!... But, every now and then I get this other voice in my head and it makes me do stupid S#*t...Out thinking myself and then I get twisted up.
Dr. I'm right there with you...thought I knew for sure that we were headed down today. Lower GDP, but rising home sales doesn't seem like enough to rally the market 120 points? Fortunately I made back the 4 pts. I lost and had enough change left over to buy a cup of coffee. Hang in there and don't beat yourself up too bad.
Lower GDP was translated as tame inflation but bad news that you predicted that should happen today are still in the buffer. TXN, MSFT, MOT, INTC, ALTR,...... all had good earnings but were shy in meeting the estimated revenue. Reality will kick in on Monday orTuesday or ..... soon.