It's so great being a registered Independent. I get to praise and condemn both parties based on how I truly feel, not because I need to tow a party line. So many people get caught up in BEING Republican or BEING Democrat, they stop thinking and become defensive when it is clear there is something wrong with their party's ways.
Which brings me to the issue I have with Republicans right now. Are they NUTS? From things I've heard come out of the CPAC convention, it doesn't seem like they've learned anything at all from losing last November. Bear with me, cause I realize I'm generalizing here. I'm speaking mainly to the partisan sore losers who can't seem to realize the country voted against them because they want a new way of doing things. Will Obama deliver that? We have yet to see. But the man has only been in office a little over a month.
In that time, with the exception of three congressmen and some governors, most Republicans have adapted a 'screw you' stance on whatever the President tries to do. Seems to me, if the President compromises on his OWN bills and reaches out to include Republicans in the process when he doesn't have to, the least Republicans can do is meet him half way. Bush never gave anything to the Dems. Bush's policy was, 'my way or the highway.' If you disagreed with him he sent his attack dog, Rove, to crush you. That way of doing things led to Republicans being ousted left and right last year, but they haven't learned, apparently.
People are TIRED of Bush policy. People want consensus and bi-partisanship. They want the leaders they elected to put aside political bickering and sniping and to get serious about working on the problems we have today. And we have a lot of them. So it galls me when I hear people say they wish Obama to fail. I expect that lunacy out of Limbaugh, but Rick Santorum recently hitched his wagon to that not so bright star. Has he lost his mind? Does he even realize the consequences of failure at this point in time? Does he really want to be back in power so badly that he doesn't care if his country suffers? Are Republicans only patriotic when they are in power?
I remember when I heard a few Dems say the same thing about Bush when he was first elected. They hoped he failed. Guess what? He did. Numerous times. And here we are in the middle of a global economic meltdown. Is this what they wanted? It was wrong sentiment then, and it's wrong now.
The bottom line for Republicans is this: Get your S#@% together! Stop wishing failure on the other side, because they are, in the big picture, YOUR SIDE. Stop focusing on how you can screw the Dems so you can get control back of Washington. You had eight long years to prove yourselves and you failed miserably. It's the Dems turn now. If you want another chance, then a little introspection wouldn't hurt. Figure out where you went wrong. I have a few suggestions if you can't think of any.
And finally, lay off the Obama citizenship crap. That paranoid propaganda didn't work in the election, it's not going to work now, and it's GETTING OLD! People have gotten wise to your (Karl) Rovian ways since being bombarded by all those yellow and orange terror alerts before the 2004 elections.
Phew... glad that's off my chest!
Saturday, February 28, 2009
Trading Decision
Well, this last week was pretty poor for me. I made a bad decision in POT on Monday and it colored my trading performance for the rest of the week. I am still working on trading emotionless, obviously.
I shouldn't have traded on Monday. I'd found out over the weekend that a long standing issue preventing me from getting as much work as I'd like, had failed to be resolved AGAIN! So I spent the weekend frustrated, feeling financial pressure, and unable to get appropriate sleep on Sunday night. Trading while overly tired is not a good idea.
I am also restricted in my trading account because it fell below 25,000 last year when I was slow to adapt to the new bear market. I get only three day trades a week before my account will freeze unless I make up the shortfall. I have the money, but I am not putting any more money into the trading account until I master my trading mistakes. One of which is harping on the past. I continually beat myself up over losing the money I did last year, an amount that I've never lost before. Join the club, right? There are many people who lost money last year, including professionals. But I should know better... that's the psychological baggage I am working on.
So, financial pressure, grogginess, and worrying about only having three trades caused me to lose money. I plan to fix that. I'm changing my mental game NOW. I get three trades. That's it. I am not going to trade this next week thinking that I'm going to make up for last week. I'm not going to trade anymore thinking about all the money I've lost in the past. When I've used up my trades for the week, I will spend the rest of it watching charts and improving my skills. My friend, Billy Mays(who doesn't blog as much anymore), has been very helpful teaching me new ways to trade. I will continue to scale into small swing trades and I will work on controlling my emotions. And finally, I will not beat myself up if I slip back into old habits occasionally. Learning is a process.
These are the goals anyway.
When I need a reminder to ease up on myself, perhaps I could play this:
I shouldn't have traded on Monday. I'd found out over the weekend that a long standing issue preventing me from getting as much work as I'd like, had failed to be resolved AGAIN! So I spent the weekend frustrated, feeling financial pressure, and unable to get appropriate sleep on Sunday night. Trading while overly tired is not a good idea.
I am also restricted in my trading account because it fell below 25,000 last year when I was slow to adapt to the new bear market. I get only three day trades a week before my account will freeze unless I make up the shortfall. I have the money, but I am not putting any more money into the trading account until I master my trading mistakes. One of which is harping on the past. I continually beat myself up over losing the money I did last year, an amount that I've never lost before. Join the club, right? There are many people who lost money last year, including professionals. But I should know better... that's the psychological baggage I am working on.
So, financial pressure, grogginess, and worrying about only having three trades caused me to lose money. I plan to fix that. I'm changing my mental game NOW. I get three trades. That's it. I am not going to trade this next week thinking that I'm going to make up for last week. I'm not going to trade anymore thinking about all the money I've lost in the past. When I've used up my trades for the week, I will spend the rest of it watching charts and improving my skills. My friend, Billy Mays(who doesn't blog as much anymore), has been very helpful teaching me new ways to trade. I will continue to scale into small swing trades and I will work on controlling my emotions. And finally, I will not beat myself up if I slip back into old habits occasionally. Learning is a process.
These are the goals anyway.
When I need a reminder to ease up on myself, perhaps I could play this:
Tuesday, February 24, 2009
Update
Quick update on SSO and LDK... Stopped out of LDK with a small loss on Mon. I exited SSO today with a small profit. Taking what I get in this market. A few day trades, but I am spending most of my time watching charts and mentally trading stocks. Need to get my confidence levels back up.
Let's see what happens the rest of the week.
Let's see what happens the rest of the week.
Friday, February 20, 2009
My Trading This Week
I always dislike trading options expiration week. Choppy, false moves, gaps... not easy. This week I decided to really reign myself in and only trade small amounts and trade only 'sure' set ups. There are no 'sure' set ups, but there are better plays than others. And I tried to trade only stuff I felt good about. Maybe that's why I missed out on a bunch of profits from some inverse ETF's this week, but I'd rather be safe than sorry at this point. I'm not a great trader yet like some of those guys on Stocktwits or like Gio or Stewie. I lost quite a bit last year because I couldn't adjust to the new market reality soon enough. I was using bull market strategies in a suddenly bear market and it cost me everything I made the year before and then some. Ah well, that was the past, and as my philosophical books tell me, the past does not exist.
This week I made almost $900 dollars on an overnight POT position from Wednesday to Thursday. I got out as soon as the stock showed any weakness on Thursday. Yeah for me! But, I also made a few bad entries into FAS this week and cost myself about $300 of that profit. Luckily, I am learning and my positions were tiny. It could have cost me more. Also, I didn't rush into any new trades to make up for the losses and I didn't beat myself up for the mistakes I made. I count that as a win. I could have done better this week, but I also could have done worse. So I am considering this week a success. This is a tough market to navigate, esp. for someone like me who prefers swing trading larger positions in a bull market!
Today before the market closed I bought some SSO and a little LDK. Not sure about the LDK trade, but I'm not risking much. I only have 200 shares and it's pretty beaten down.
This week I made almost $900 dollars on an overnight POT position from Wednesday to Thursday. I got out as soon as the stock showed any weakness on Thursday. Yeah for me! But, I also made a few bad entries into FAS this week and cost myself about $300 of that profit. Luckily, I am learning and my positions were tiny. It could have cost me more. Also, I didn't rush into any new trades to make up for the losses and I didn't beat myself up for the mistakes I made. I count that as a win. I could have done better this week, but I also could have done worse. So I am considering this week a success. This is a tough market to navigate, esp. for someone like me who prefers swing trading larger positions in a bull market!
Today before the market closed I bought some SSO and a little LDK. Not sure about the LDK trade, but I'm not risking much. I only have 200 shares and it's pretty beaten down.
Monday, February 16, 2009
Okay, this is why pet owners should not be allowed to own exotic animals. The average person has no idea how to care for these animals and they certainly have no idea what such animals are capable of. Chimpanzees are dangerous animals and have a sociology very few people take the time to learn. They are cute up until the time they grow up and eat you. Believe me, stick with dogs, house cats, and parrots.
Friday, February 13, 2009
Rosenberg Needs To Go
Found this story and just had to comment. Alan Rosenberg must be the most selfish man in Los Angeles. How anyone in their right mind would instigate a labor dispute when the economy is in such bad shape is beyond me. I know people who haven't worked for months because of this jerk. He cares nothing for the suffering he's causing people. Why should he? He's collecting a paycheck. I know actors can be self-absorbed and arrogant, but he takes the cake.
On the other hand, I know many actors who aren't self-absorbed and arrogant and I'm glad the more moderate voices in SAG seem to be prevailing. Let's hope that things get resolved soon so we can lower the unemployment rate in California and get people back to work(myself included!).
On the other hand, I know many actors who aren't self-absorbed and arrogant and I'm glad the more moderate voices in SAG seem to be prevailing. Let's hope that things get resolved soon so we can lower the unemployment rate in California and get people back to work(myself included!).
First Post
Gave in to this blogging thing. I will post on stock trading, but I don't want this to be a 'trading blog,' as I will probably want to post on whatever crosses my mind... watch out! LOL.
I've been reading this book Zen and the Art of Happiness by author Chris Prentiss. The following passage struck me as not only something good to know in life, but also something essential to know when trading stocks. Here it is:
Alan Watts likened the practice of living from our center to martial arts, where we are encouraged to "stay always in the center position and stay always HERE." He says, "If you expect something to come in a certain way, you position yourself to get ready for it. If it comes in another way, by the time you reposition your energy, it is too late. So stay in the center, and you will be ready to move in any direction." When living from your center, in the now, he adds, "you stand a much better chance of being able to deal with the unforeseen than if you keep worrying about it."
I can't tell you how often I'd wake up expecting to trade the market a certain way, but then miss out on profits when the market veers the other way because I was too obsessed 'willing it' to go the direction I was sure it was supposed to go. I have gotten much better about this, but I find I am much worse about it when I am in the trade! Of course! Since I am better at taking profits than accepting losses, I tend to be really bad about it when I'm losing money. What REALLY gets me, tho, is when the market suddenly turns after barely giving me a profit in the direction I was heading. I don't feel satisfied enough to take the pennies and I tend to want to give it room to go back the way I wanted it to go. lol. Boy, I want to be right pretty badly, I guess! Tightening stops and sticking to them has been my hardest lesson in trading to master.
I've been reading this book Zen and the Art of Happiness by author Chris Prentiss. The following passage struck me as not only something good to know in life, but also something essential to know when trading stocks. Here it is:
Alan Watts likened the practice of living from our center to martial arts, where we are encouraged to "stay always in the center position and stay always HERE." He says, "If you expect something to come in a certain way, you position yourself to get ready for it. If it comes in another way, by the time you reposition your energy, it is too late. So stay in the center, and you will be ready to move in any direction." When living from your center, in the now, he adds, "you stand a much better chance of being able to deal with the unforeseen than if you keep worrying about it."
I can't tell you how often I'd wake up expecting to trade the market a certain way, but then miss out on profits when the market veers the other way because I was too obsessed 'willing it' to go the direction I was sure it was supposed to go. I have gotten much better about this, but I find I am much worse about it when I am in the trade! Of course! Since I am better at taking profits than accepting losses, I tend to be really bad about it when I'm losing money. What REALLY gets me, tho, is when the market suddenly turns after barely giving me a profit in the direction I was heading. I don't feel satisfied enough to take the pennies and I tend to want to give it room to go back the way I wanted it to go. lol. Boy, I want to be right pretty badly, I guess! Tightening stops and sticking to them has been my hardest lesson in trading to master.
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