the $14 breach is a major technical crack, I think it has further to go on the downside, and just in case they actually do announce their long awaited 3rd exhibit, I covered half, probly should've covered 3/4, but oh well--my entire trading account is than 10% of my total capital, still waiting on the hedge fund account transfer to be completed
My real measure of a trade is first entry and final exit. I don't give a whoopee about scaling in/out, partial entries/exits, oscillation profits, stoplosses, profit targets, testing the waters, etc. I don't care what people think, that they almost got into a trade or missed an opportunity, made a mistake, that they are leaning in a particular direction, etc. I don't care about money management, trade management, indications, diversification, psychology, etc. You claim 2 whole trades. This is considered statistically VERY insignificant. A trader can either OUTPERFORM THE MARKET ON A REGULAR BASIS or they cannot. In my book, you got in and are currently back near your entry price. I am unimpressed.
A few HONEST questions for you Timmy: 1) How does being a daytrader qualify you to write a book with a title such as, "The Great American Hedge Fund?" 2) Why are you more qualified than any other guy who's not lost his account (yet) to write a book? 3) Do you ever feel embarrased by your behavior or do you rationalize it by saying that if you stop acting so childish it would be tantamount to a de facto recognition of your idiocy and bad judgement? 4) Why all the "talk" of success on that reality show? Surely a man as smart as you should know that success is achieved most readily by those for whom it is a foregone conclusion. Doesn't having to appear on a reality show to stomp your feet so hard about your "success" create some cognitive dissonance or - at the very least - make you fear that you could be jinxing yourself?
2 trade in 2 weeks, patience brother, this is a marathon, not a sprint, especially evidenced by PRXI's perfect bounce off the $14 resistance and now its right back down again, making me more confident in my 1/2 short position. And no I'm not just going to post my entry and exit, I'm going to post all my thoughts and price action in between because I'm all about sharing everything! 1. The title is "An American Hedge Fund"--definitely not the ultimate hedge fund, just an example of one fund's journey. 2. The main reason I wrote this book was for my fans of my TV show and to answer all the questions they kept asking me. Why are you people so offended that I wrote a book? You don't need decades of experience or tens of millions of dollars to share your experiences that will help illuminate this thing we call trading. 3. I am proud of my behavior. I've already gotten letters saying I''ve inspired hundreds of young people to get into finance; my goal is to get many more. To do that, I need to act a little differently than the boring Wall Street crowd. 4. I didn't edit the reality show-we filmed for weeks on end, but of course they're gonna focus on my success because its interesting. I don't care about jinxing myself--I know there are tons of opportunities in microcaps and that'll continue.
covered the other 1/2 of my PRXI short for a 6.5% gain. not worth the risk of holding into any possible news.