first let's catch up on the trades

as you can see from a couple posts back, i finally got out of GS, which was a terrible trade, but overall my equity was not so bad. only thing was i was stuck with the PDT designation and i was thinking of ways to get around it. finally, i thought that why not ask them to reset my account again. i didn't think it would work, since they just reset it like 3 months ago and the rules require 180 days in between. but, somehow it worked and they reset my account. it took a frustrating amount of time though, with some very juicy opportunities just waiting to be had.

anyhoo...on Friday my account was reset. i could trade again. straight away i wanted to scalp something / anything...it would waste one of my day trades...but i wanted something warm and wet hanging from my belt. (wtf, is he talking about?)

i shorted 20 IBM near the end of the day, because it was one of those days, where things just keep on going down and always close badly. unfortunately, IBM did not follow the script and i now had an overnight on my hand. and a bad one at that. huge down day and i'm short, going into the weekend. oy vey.

luckily, Obama slammed GM and the futures were very solidly down on Monday. i had a hangover and didn't want to be greedy, so i sold right at the open...and that was the lowest IBM went that day. after that it went straight up, even though the market was tanking. i thought about shorting it at close, but thought it still had strength and quite wisely decided to give it another day.

some very nice duckage on that....check the trades :)

like i said, IBM kept going up even though the market was tanking badly. around midday i shorted IBM again...but it was unnaturally strong and fluctuating around like mad, so i sold for a small gain...and very wisely too, because a couple of minutes later, IBM jumped up big and kept up going up from there.

i thought the market was oversold into the close and i bought some X, based purely on it's 13% decline and at the last moment went long GS as well. it was beaten down a lot for no reason, but i was worried about it...it was near 100, a break point.

unfortunately, i thought Monday was a Tuesday and went and got drunk again. Fucking quitting smoking is gonna make me an alcoholic :) we'll see !

sorry for all this delay

i just haven't felt like blogging for the past week or so...plus i'm trying to quit smoking, which is going fairly well, except that i am drinking way more now...anyway here are some posts for you...cause my trading has been going well.

shoot me

i was going to title this post, "i commit suicide", but my parents occasionally read my blog...first a little background, i have been trying to quit smoking since yesterday and i woke up early and the last couple of days i have spent all day watching the tape. as you can see i made a ton of trades, with well over $100 in commissions (which is another story altogether). basically, i suck when i watch the market all day. somehow, my judgement fades away and i buy and sell arbitrarily, hoping now it will go up or down. basically, time is my enemy. so, a combination of that and smoking jitters, caused today's disaster.

now, on to the disaster.

i got rid of my STLD calls at the open. good trade. i reshorted NFLX at a better price and sold for a small bump. good trade. i should have liquidated my entire position as the one i had bought yesterday, didn't seem to be working, but i didn't listen to my gut. then i FUCKED up big time and sorry to my readers there is no other way to put it. i started selling my BNI puts at good prices, but instead of putting 11.3 in the sell field, i put in 10.6, which was the lower portion of the spread and had stuck in my head. as soon and i mean microseconds after i clicked transmit i thought "Shit" and it was gone. u have to understand whoever i sold to made $400 instantly, absolutely no risk. well that blew my entire profit and handed me a $-100 loss on that position.

i decided to compound that error by buying Monsanto (MON) puts over the next hour and then praying for the rest of the afternoon that it go down. Did it go down ? Ofcourse not, i got to enjoy watching it go up. Why so strong ? People are starving man. Bounce play. God hates me. Pick your reason. Now i have a huge short position on a stock which is going strong and it's the weekend, meaning tons of bad news can come out. Like, all of Asia bans food exports. That would be the end of me. I also bought some NUE puts, because it was flying too high and if you are going to commit suicide you should go all out.
i am not kidding, almost everytime i have lost big it has been with a pattern like this. you only need to slip up once kids.

DO NOT WORRY, part of this pessimism is nicotine withdrawl. let's keep our fingers crossed and now to get drunk.