I think or say the the term, "that's f-ing bullsh*t!" the most, even if it is not true - I still say it.
I hear people say how you need to remain calm and do this and do that. I agree to some extent, but sometimes you have to yell (even if only in your mind) at the computer too. That's not really a trading tip. But, maybe setting a stop or closing your position, yelling at the computer and then walking away from your screen for a few minutes would be my prescription for you if you are getting too pissed off while trading.
So what do you say to your computer when you are mad?
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3 hours ago
It's great, isn't it? I've been investing for over 20 years, and was Mr. diversified, conservative, Dodge and Cox type guy, until I got blown out of the water last year. So what did I have for 20 years of 401k/IRA/self investing? A grand total loss of 24,000.
ReplyDeleteBuy and hold and mutual funds have been dead to me since Jan. At that time I took virtually everything I had and put it into GLD, and bought married puts to cover the downside. I have since been writing monthly calls and puts on the stock and the long puts. On a GLD only basis, I am nicely up, but I also have to factor in the time decay of the puts, so overall I am down as of today 2%. I am curious if you write calls on your holdings? I started last Sept with regular good quality stocks, but quality ended up not mattering! The calls covered about half the loss the underlying sustained.
Anyway, I like your blog, you are honest, and your thinking is aligned with mine: I hold GLD, a TBT bull put spread, a SPY bear call spread, and only one stock, ESLR, which I believed in but got stuck with since I never used stop losses. I am slowly coming near breakeven on that by writing calls as well.
Let me know your thoughts on writing calls. I have yet to have a losing call write and in the past 9 months I have written hundreds. Just need the damn underlying stock I hold (GLD for now) go consistently up for once! Seems like years since I've seen green numbers on my holdings!