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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: AllansAlias who wrote (28093)	10/13/2000 3:25:52 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 436258

i like that too... i haven't read Batra's book, but i'm familiar with his ideas...

To: AllansAlias who wrote (28093)	10/13/2000 3:31:23 PM
From: chic_hearne	Read Replies (1) \| Respond to of 436258

Allan and thugs, Last night while I couldn't sleep I decided I need a break from the Casino. A little background: I started early this year with very little money and gambled my money up to a big sum, although I didn't realize it at the time. I had about 150 options contracts in the money at once, so I was getting up $50K swings in one day. I got too greedy, but still got out with a hell of a chunk of coin. Then I made dumb moves for about 3 months and lost a good chunk of what I had left. Sept 27th I took poots and calls on the whole friggin SOX and a look at the chart shows you how well that worked out for me. Once again I found myself with about 200 contracts in the money and I've been getting huge point swings every day, mostly down. -ggg- On this Monday when most of you guys were taking some profits I was getting aggressive and let nearly everything ride, except Tues when XLNX and ALTR tanked, I took some profits then. All week long I haven't been able to sleep at all. The first time I had big gains in May/April I had no idea what I had done because the money was just a paper amount and didn't mean anything to me. Oh but when you lose it you realize just how much coin it was. This second go round has been extremely stressful for me. I'm now back to near my highs and cashed out of almost everything today. I feel I'm not in the right mental state to be trading now. I want to get AGGRESSIVELY short right now and that's a bad mindstate to have. I can't come up with anything but the bear case. Last night I realized that I've been trading recklessly and got just plain lucky the last 3 weeks. A disciplined trader definately wouldn't have made as much money as me the last 3 weeks, but if things would've turned I would've given back 10 times the gains as a disciplined trader. Therefore, the first step for me getting some discipline is to just take a step back for a few weeks and not do any trading. If I miss a move to Naz 2000, I still think the time off will be well worth it. I've lost complete objectivity by hanging with the bears too much so I'm not even going to log into SI for the next two weeks. In a PM you asked why I wanted to get into Index trading. The reason is because I like the idea of going to sleep with my money in cash and not having to worry about overnight swings causing me big pain. Good luck to those that play this rummy game the next few weeks and I'll be back when I'm ready. Give me a wollup with a big Oosik if I show up Monday morning. -ggg- chic [BTW- This decision had absolutely nothing to do with today's action, I decided this is what I needed to do last night]