It’s looking like I was completely, and totally rock-rolled.
I was long risk from the beginning of February.
And as previously stated, yesterday I sold PCY. I sold JNK. I sold IVV. Got out of QQQ. All of those ideas about being long Disney (DIS) and Apple (APPL)? I said to exit it all for a $2.00 profit. I got out of any and all longs.
I sold them all at 1:00 pm EST, congratulating myself for being such a genius.
And nearly, to the tick-low that I sold … the market began to rally.
The market totally rick-rolled me.
That’s ok. We’ve gone to cash. I’ll take a day or two to examine what the market delivers. And my one saving grace, is I’m still long Gold. God, I hate that trade. But lord is it helping me out at the moment. But as I was saying, I’ll take a few days to examine what the market print delivers to us. After which point, we can look to begin to put on positions once again. We have the cash. The beautiful thing about the way I trade? Is I don’t have to get it exactly correct.
There is a method of trading that we are performing in regards the ‘Capital Gains Strategy’ within the “Sharpe Income” project It deals with how I learned how to trade profitably while simultaneously being wrong. To take off, and put on trades at any time, make mistakes, and still make money year after year. That was when things turned a corner for myself.
So it’s not going to matter in the long run. I will wait. Observe. And then re-insert myself into the markets, using a method that will make me more money, over a period of time. That’s the lesson here folks.
Can you make money … even when you are wrong?