January Effect 2003 Message Board

STOCKTALK

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Strategies & Market Trends : January Effect 2003

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To: RockyBalboa who wrote (454)	5/8/2003 12:00:46 AM
From: Londo	Read Replies (3) of 666

I'm still considerably up YTD, but when I make stupid trades like I did with the TBond (i.e. closing my position for a few large pizzas at 113 27/32 before Greenspan) when just two days later I had my sell order on TWS at 115 24/32 (with a GTC+OCA stop at 113 6/32 which was never even close to reached), this really pisses myself off. There's no excuse for screwing up as badly as I have over the past couple weeks. It hasn't resulted in the loss of much capital (the biggest hit was post-GLOBEX shutdown), but it certainly has resulted in the loss of potential capital that really should have been captured now both in trades that should have been closed/hedged earlier AND trades that I should have stuck to my guns with my original (and well-researched) stops and exit points. When I get emotionally enraged like this with the markets, I need to pull myself away from the TWS for a couple weeks and just collect myself. I probably have the trader's form of PMS right now. And trading when you have PMS (and yes, I'm male, so I'm not bleeding!) will ultimately lead to the loss of capital, which is something I'm absolutely going to avoid by not trading until I feel better. If the S&P rises to a thousand or crashes down to 850, I won't give a crap until I feel comfortable and have my bearings straight. This is such a bloody psychological game that we're playing (not to mention crunching all the fundamental/macro data together) that I'm surprised they don't take most of the traders on this planet and ship us all into the nearest mental institutions.. except this mental institution should have quotation screens in every room (including the bathrooms!) and quick access to TWS. :) Please forgive me if I don't post anything of substance over the next little while - when I get comfortable again, I'll be back to my usual schizophrenic self, and so will I!!!

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