Things were swimming along just dandy this morning until Scott Bessent, the Treasury Secretary, decided to make his daily announcement that trade deals were coming Real Soon Now. This was augmented by Trump stating he would have some “good news” to share on Thursday. Markets exploded higher, and in my inimitable style, I slipped on a pink sundress and immediately covered 4 of my 20 positions.
You already know what happened next.
I mean, sure, it could have been worse. I could have covered 20 out of 20. But it’s still idiotic that I did anything at ALL, particularly considering my cowardice was provoked by a man who lives with his husband in a giant pink house called, cleverly, The Pink Palace.
I’m fully peeved at myself, and rightly so. This is a blatant violation of my own Trading Rules:
For the partly sighted among you, the rule in question is as follows:
A PREDETERMINED STOP IS SMARTER THAN A REAL-TIME BRAIN -In the evening hours, calmly looking at charts, you will be at your most logical, intelligent, and discerning self. Let that brain be in charge, because that brain decides the numbers. The brain that’s in the midst of battle doesn’t get to change the number. A stop is a stop, and it should be respected instead of treated capriciously.
I had a pre-determined stop. I always do. Across the board! And my real-time brain thought that the mewings of Ms. Bessent were tooooooo scary to endure, so I freaked out and shuttered four perfectly good positions just because of fear.
Don’t be like me. Follow the rules.
