December Trading Journals

Originally posted by IvyLeagueTrader
I went to an Ivy League school and was in no way born with a silver spoon in my mouth
More...
see.. thats a stereotype of academic types.. that they were all born in rich families and never had to struggle for anything.. thing is, often times its true..

there is another stereotype that says someone who doesnt get an education is lazy or intellectually inferior or has an "easy way out" type mentality.. thing is, often times its true..

but its a mistake to judge people on formal education alone.. focus, ambition, determination, persistence, guts.. you can only judge these things when a man steps into the ring and starts swapping punches.. otherwise, its just prejudice..

-qwik
 
I couldn't agree more. Great Post!

I always liked the underdogs. Through charity, I have worked with many kids whom I often felt were born to the "wrong" parents. And I have seen it first hand. The challenges they face in order to make it are BIGGER than most can imagine.

But when you see the passion and will power that some of these young adults possess, you can't help it by admire the courage and strength they have.
 
Actually, deep in my heart I know for a fact that all things being equal, a Ivy Leaguer from a wealthy family with an equal level of hunger will most likely wipe the floor with the blue collar boy. And being a first generation immigrant, the odds are stacked against us.

The truth is, the upper tier of the society is dominated by people with Ivy League degrees, and the vast majority of those came from wealthy families. There are many many exceptions, but like the market, it is all about probabilities. Quite simply, you need money to make more money, and being in a family with a lot of money to begin with helps.

The man I envy the most than anyone else on this planet (that include everyone from Bill Gates to Brad Pitt) came from a upper middle class family, since his mother works as a professor in the very college he attends, he gets to pay zero tuition and I am sure got some easy lay-ups when it comes to the admission office.

Throw in a rock solid family when it comes to financial support, it is literally inevitable that when he wants to start his own operation, he will get an interest free loan from his parents. I am going to have my hands full if he is as good as advertised (and I don't ever underestimate my opponent, let alone the biggest one, nor I doubt her choices), when he gets his paws on that MBA from one of the most prestigious schools in this country, he is going to be a nightmare to beat.

This is precisely why I took the high risk / high reward trading career. I see zero chance when it comes to corporate ladder games against someone with a premium MBA. Only on this playing field the odds are somewhat even, the institutional Ivy League traders still got a huge edge over everyone else, as we are essentially fighting for bread crumbs here as day traders, but as I build a strong track record I will have a shot at the top tier. Not to mention my nemesis is not in this business, so if I do fulfill my prophecy, while I may not win the ultimate prize, I will be able to rest in peace knowing that at least I beat him in something (unless he becomes the next Charles Wong, now you know his choice of major).

Time is running out however, as I mentioned before there is a time bomb buried within my heart that may be triggered at any time, and I have no real control over it other than praying that I can prove myself before it is triggered. Time to me is more precious than blood, as I must make one last hurrah for the ultimate prize before it is all over.

And of course, if I blow out my account then it is all over, I will admit defeat and avoid her sight the way a vampire despises sun light. Perhaps now you will see that for me it is far more important to develop a strong fundamental set of skills as opposed to rush in for big days. I have to let it come to me, I can't afford to lose this war.

I may be 22, but I too have just one shot at prime time, and it has to be done within the next three years. If you are meant to make it, one shot is all you need, and anyone who misses that one shot have no right to blame anyone except themselve for their demise.

Can't let it happen, I have to be the sharp shooter, and I must make it count.
 
Hitman,

I think the road you traveled is far more challenging and exciting than someone who is born with a silver spoon in his mouth, because when we die, we can't take anything with us anyways, except for the memories of facing and conquering all our fears and achieving all we set out to achieve.

Not every one can be Bill Gates, or Paul Allen or Bill Clinton, but you don't need to be to enjoy a full, enjoyable and exciting life. Set your goals and enjoy the ride there, and when you finally get there you can look back on all the things you went through and smile about it, hopefully with your kids and the elusive princess. :p
Life is nothing but a journey, enjoy it till the last drop.

ProTrader,

You are as annoying as a fly in an elephant's ass crack. But hey, everyone has a job to do in this world, this might be your calling. Good job.
 
Yep.

"Princess" are dime-a-dozen.. love is in the eyes of the beholder... we don't see things as they are, we see things as we are.

The same discipline you apply when you look at the market can be applied when you look at "Princess". :D
 
Sure hope the market can keep its pace, as I am most definitely looking for a breakout month here. 18200 shares on 12 of 15 shooting, +2166 before commissions, +1565 after, 3 bullets.

Morning shorts worked out well and there was a brief hesistation on my part wondering whether I should go long or short. Then it was all clear on the long side. Unfortunately Nasdaq did not join the party today with SOX dragging down everything. Still, this was my best game since March, and with $7000 in December, with 7 games left, this is a potential breakout. Good market environment will provide excellent opportunities for bigger size, and hopefully when market gets worse I will have the confidence to keep my size because I am already used to it.

Pre-Market: LEN upgrade, this time it is no trap and I missed most of the move. Futures looked weak.

9:30: Bulleted DNA for 75 cents, DOX for 65 cents, EMR for flat. Stocks just came in hard today.

9:46: Already missed the energy rally, took VTS and stopped out for flat. Financials were extremely strong, took LM and shaken out for a 10 cents loss and missed the move. Tried to short DOX/EMR on a squeeze and stopped out for 10 cents loss on both.

10:13: Already missed the home builder rally, took SPF for a quarter, bought on a dip and took another quarter. Tried to get KSS and stopped out flat.

10:43: Took PPG on CEX rally, took just 10 cents as it went further.

11:08: Took DOX/JBL for 20 cents a piece, got FBF on BKX rally wish I held for the full move, just took a dime. Then there was the game winner for me on EPG, as some huge seller came out for no reason and pounded it into the ground. I took it at 41.01, pared out half for 70 cents profit, rest for a 1.7 point profit. Unfortunately on a failling knive like that I only took 500 shares. Good call by SK, that was the example of filters adding value during the dead zone. A stock that tanks hard and fast usually gives a great squeeze. In this case XNG was so strong along with UTY.

11:52: UTX pulled back, made just 5 cents as I went to lunch, wish I held the tiny shakeout :-)

2:42: Churned HP/SGY as energy was up so much and they didn't move.

3:18: Took CCU on a dip at 48.21, sold for 20 cents profit and he went up another 35 cents, wish I had a bullet on him as I would have shorted some there as it came right back in.
 
Hitman,

You know I admire your trading and your journal, and started reading it with your very first post over on MSN. But I think you're stepping over the line now in the trading journal on a couple of issues. When you duplicated your journal at Elite you made a point of saying it would be more professional, more businesslike, so you left off the extended pinings for the princess. I see you're now starting to take this trading journal in the direction of the romance hotline? Second, your open and blatant recruitment for your team at WorldCo (the post immediately above this one) steps outside the bounds of propriety -- it would probably be best if you kept those conversations within private email. Thanks, and good trading as always.
 
Hitman. do your and other firms trade between Christmas and New Year? It was my best week of the year last year and seemed almost easy. I couldn't decide whether it was due to the pros being absent or lots of inexperienced traders trying their hand over the Christmas break or some of each. Did you notice this (if you were trading) and what do you and others think about trading during the holiday period?
 
You must log in or register to reply here.
Back
Top