It only took me 90 trading days to destroy my account and make the one-person contest that was Retard Trader a nearly impossible feat to accomplish. On January 10th my account had a value of $9,550 which was up 91% from my original account starting balance. In the course of just 90 trading days, my account value has plummeted over 93% from it’s highs. Maybe this blog wasn’t meant to last…
When the blog was started it was to track the trading I was doing, which wasn’t that exciting or active. Lindsey mentioned that she was interested in blogging about her trading and that she could post daily about her trading adventures and market thoughts and observations. Between the two of use, it seemed that the blog would be lively enough to keep some people interested, and that’s the main reason for having a blog.
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i think i did it again
i made myself believe
my account would go up
Okay this is not working. I can’t do this anymore. If I do, my account will go to $0. I exited my JCP calls when it was at $40.70 today and after that mess up, I am all cash, $2300 in cash. I’m thinking $2300 is a lot less than the $5000 I started with, but it’s also a lot more than $0. I’ve lost $2000 in two days. So this is not working. If it’s not working, better not keep doing it. I’m trying to figure out what to do. I could:
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A party isn’t a party until I’ve arrived too late or early. That’s when you know things are going to be good. I like to see that Chitty is going down like it is, though not yet to the teens that I thought it was going to. Not yet. Why did I choose the puts I did (May vs. June)? I’m not able arrive to the party on-time, only early or late. I can tell you what’s going to happen at the party though.
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I haven’t put additional funds into my account… not yet anyways. For now, I am waiting for an opportunity.
One reason I haven’t added $20k into my account (yet) is because Michael warned me about the Lindsey Zone:
Reason #2: it just seems like I should be able to find that 100% play that will get me back in the game.
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I’m still here, in the shadow of the real traders, waiting for something to motivate me in one direction (or another). What I’m going to do.. not sure. Lots of friends and a few bloggers and readers have weighed in, giving me advice which is all appreciated, whether I take it or not. And since I haven’t deposited the new $5k into my account, I’m still being a bitch about making up my mind.
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First for some news about the market, then I’ll tell you what I’m up to. The market didn’t do too bad either way, with the DJI going down nearly 8 pts ending at 12,638 which is significantly lower than the 13,xxx area that bears fear and bulls are chearing for as some sign of something. The S&P ended up 2 pts to 1,400.36 which is past a previously considered resistance point. What’s next? Death and gloom for someone, but not for me anymore.
No, it’s not death and gloom for me anymore because I’m wiring $5k into a new account and starting over in the Red Bull Air Race Retard race, only this time I’m depositing my money into an account with futures trading enabled. Do I know anything about futures? Not a damn thing. But I have a general sense of direction for the market and think that I could squeeze out some decent wins.
Tomorrow I’ll be walking into my local bank branch and whipping out my wallet onto the table, then ordering some wench to get busy and wire my money away. If you think that you can watch me fail a second time, you might be right. But if you want to bet against me, do it here publicly. Comment away, tell everyone what you think. Hell, I’ll bet people here personally if they want, I think know that I can make money in this stock market.
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New Year’s Eve. It was an account-goes-nowhere day for me. A couple of daytrades left me down $11 for the day. It’s fine for me if I take small steps backwards then take big steps forward. This hasn’t happened since the Retard Race started 6 weeks ago but things can happen fast when trading options.
I’m definitely leading in the race to $0 thanks to JCPenneys (JCP). I have absolutely no desire to blog in detail about the horror of it, so I’m not going to.
My overnight holdings should give you an idea of how my account value plunged today. Here is what I am stuck with holding overnite:
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