22nd Sept 2010 – The way idiot trade.

If you want to see how an idiot trade. You are looking at one now.

13th Sept 2010 – Is this Silly, Maniac or Stupid?

If you think you are silly in your trade, wait till you see mine.

I Shorted C and buy TZA on Thursday night. On Friday midnight……

Input:

1. Now… is this crazy or what???
2. I woke up to the toilet in the midnight. Before I went back to my bed. I took a peep on my laptop on the indexes (please refer to the link). I decided to cover my C and also sell off my TZA (refer to this link) even though I have set stop loss for both of them.

Citibank:

Buy $	Sell $	Sell Short $	Buy Back $	Stop Loss $	Profit / Losses
			3.94

 

TZA:

Buy $	Sell $	Sell Short $	Buy Back $	Stop Loss $	Profit / Losses
	31.82

Reason for Buy / Sell / Sell Short / Buy Back:

1. I am expecting indexes to go down at the end….. But this is NOT what I see in the midnight before the market close.
2. Refer to my article 9/11/2010, I felt that market will gap up next week. SPY look really bullish.
3. Even though I have put in my stop loss, my midnight 2 cents told me to go ahead and get rid of my short side. I might not have time to do so on Monday.

Lesson Learnt:

1. Making such a decision in the midnight normally brings bad consequences.
2. I am basically making $$ for Ameritrade. Trading in such a way is very unhealthy and unwise.