Sheesh, what an annoying day.
I guess I shouldn’t complain about making a profit. And it’s a hell of a good profit, considering how the day turned out, and considering how I am literally my portfolio is literally 235% short. However, my profit was FOUR TIMES LARGER before this stupid crap happened on the ES:
……..as well as the NQ………..
It is a gross understatement to declare this bull market isn’t going down without a fight. 2018 has been a huge battleground. The bears ARE winning (“lower lows/lower highs” is the very definition of a bear market), but the sons-of-bitches on the other side are doing everything in their power to seize control back.
It’s days like today that remind me of why I position myself the way I do. Folks were saying yesterday that odds were high we’d close higher today. And they were right! But what if I saw that, got scared, and covered every single position? Well, I’d have no profit today at all. Instead, I wound up with a nice profit, in spite of the “up” day.
Where I go wrong is getting caught up in the excitement (like early when the market was falling fast) and augmenting my normal positions with big shorts in stuff like SPY. I lose on those almost every time, because those trades are based on emotion instead of logic.
My dozens and dozens of individual positions, however, each are based on sound charting principals, and I let those stops manage themselves, by and large. And thus, at the end of the day, once all the turmoil has passed…………it worked out.
Still, it sure would be a nice change to have a market GO down and actually STAY down!