So if you were not aware?
I have trading superpowers.
They are epic. They are powerful. And they are not to be trifled with. Mere mortals tremble in the wake of my trading superpowers. And you received proof of my powers, as recent as yesterday’s entry.
So yesterday, we were talking … may I say … bragging … about how profitable we have been this year, about being long the SPY and then the QQQ, from the beginning of this year.
Like a complete … and utter idiot.
And thus, my powers were unleashed upon you all.
One of the first things you need to learn about trading, is that you should never ‘brag’ about how well you are doing. You never … under any circumstances … “feel good” about profits. Ever. First year newbs are introduced to this lesson. It’s Trading 101.
Because the market is an auction run on human emotion. And if you are ‘feeling good’ about your year and then … take it one step beyond that and like a moron ‘brag’ about your year? Because the markets are an auction then by necessity and structure of the way human auctions work, you are very likely near a market turning point. Because you have thus allowed your ego into the trade … … and the markets are fed by ego.
Don’t believe me?
Check out the time-stamp on yesterday’s entry. Like some super-powered nitwit, I was posting that entry at near the tick high before the market took a complete dump on everything I said. How many people can lay claim to calling a market top tick-high by the sheer power of their bafoonery?
Those are some epic superpowers my friends.
Yes … we are still long that Q’s position. Thankfully … that process is up something like 13% this year, and therefore, I have some wiggle room. I’ll allow my processes and read of price action to determine our course of action in the future. But please remember that no one is bigger than the market. And the markets have this beautiful way of reminding you of that as they knock you back to reality …