Ok, I listened to the song with a new theme - trading. Jeff, it does kind of sum up my feelings that just once I would like to get it right. Chris said it perfectly earlier today.

Jeff and others I think one thing that many of us are looking for is that some of you like Jeff, Brett, Raimo and others are getting it right and days like this are no big deal for you as that gives us hope and the knowledge that we too can do it and can get it.

I was looking back on some moves made in stocks Feb 27 and found it very interesting that many moved more today than then.

I have my plan in place for tomorrow and tomorrow will show if it was a good one or not. Other than losing virtual profits today was not very painful at all to my account. After hours and futures has me concerned though for tomorrow.

Thanks all.

Chris,
Not sure what I did to deserve your thanks but I'll take it and raise you a "thank-you" for the great laughs and encouragement that you provide.

Brett,
Your going to Vegas? Admit it, you're an Elvis impersonator. You spend all of your trading income on polyester rhinestone jumpsuits and cheap sunglasses.


I hsve to just say that I am really proud of myself for not losing my mind today. I think that I have learned to control the emotion because I know the secret. I can make money trading options! In two months I have doubled my account and it is largely due to this blog and all of you great traders.

I toast you with my version of alcohol. A cup of coffee, heavy on the cream. :-)

well i need to grab some tissues...can we get somethings a little more upbeat tomorrow??? like "the sun will come out tomorrow......" i don't really know the rest....

have a good evening everyone...

Tonya W, you mean this?

http://www.youtube.com/watch?v=YpAisYXFxGg&mode=related&search=

(I hope that works)

The one that goes "...bet your bottom dollar..."

Ben,

I don't know how much free time I'll have, but if you have a handheld, email me bdatlas@yahoo.com and we can try and meet up. No chips necessary.

Here is another clip for motivation:

http://www.youtube.com/watch?v=sogKUx_q7ig

And I just thought of another acronym for the OA dictionary: BUI - Blogging Under the Influence

Jeff,
Perfect song to end a very imperfect day.

Laney,
I am extremely impressed that you have doubled your account in 2 months. Congrats!

Tomorrow should be interesting. G'night and sweet screams, everyone.

Well folks, I consider today a success. I may have lost more money than the average family makes in a year but I didn't get emotional about it. I planned my trades and I traded my plan to use a trite saying. Stocks and options that exceeded my mental stops were sold and others still above support were left alone. I could have sold everything for fear the rush to the exits isn't over or I could have bought the dips hoping the market would move higher tomorrow. But I don't know which way it will go so I plan on reacting to the market, not trying to guess which way it will go. Unfortunately I have to set hard stops tomorrow as I'm off to spend the day at Willow Springs raceway to see if I can blow an engine or blow some other drivers into the weeds.

One oddity that I haven't had time to figure out is why earlier in the week and last week on days that were similarly down I was actually up quite a bit and on this day that wasn't particularly bad overall it had a disastrous effect on our accounts. I've not looked to see how well or poorly I'm diversified but I'm guessing most of us are heavy in the tech sector although I don't know why DRYS would run aground or POT would go up in smoke. I have about 60 positions open at any one time for diversification but that doesn't help when the majority of them go south.

I appreciate the comforting words but I'm fine. On Wednesday alone I made more than I lost today and all of my losers were just smaller winners than they were in the morning. The market may go up or down, just be ready to pounce either way. Now go kick some market butt!
Stan

Stan and Brett,

I feel your pain. Been there, done that. Hell, I've lost more then the two of you combined, so I know from first hand experience the ups and downs of trading. It can sink you, or it can make you stronger. The choice is yours.

It is apparant the choice you have made, and I am honored to be in your presence. I only hang with those that know how to perservere. (did I spell that right?)

Anyway's, I too am away, hunting of course. Don't panic, the bulls are here, no bears as I am about to unleash hell on them at sunrise tomorrow.

This Bull market WILL continue, and we will finish higher for the year.

Scoot-
I checked out the youtube link and then I ended up listening to a bunch of Queen songs instead of doing "homework". Brought back memories of elementary school and these two kids doing a break dancing routine to "Another One Bites the Dust" at a talent show. Makes me smile.

Thanks.

liz

Bob-
My computer did okay today but I have had the same affliction that Doji Girl and I think it was Ben that said their computers seem to go down in the worst times. Thankfully, not today. I'm just waiting until the end of October and then I'm getting a new computer.

Though my account did make some big swings today. My husband was so excited this morning when he came in and checked on me and this afternoon he made made some low whistling sounds so I shooed him out of the room. I almost gave him the hammer. ;-)

liz

Jeff-
Thanks for sharing the song and the blogging today.

Thankfully, tomorrow is Friday. I think this weekend will mean a whole lot more after today.

liz

Raimo, Brett & Stan-

Thanks for holding strong. It's encouraging to hear!

I can't wait until I have an "expense" that large and am not bothered by it because I held tight to my plan.

When I have an "expense" that large... that means I'm making huge "deposits" into my account! Now that is cool!

liz

Liz, made me do the same thing until my daughter came in and wanted to show me several versions of the hampster dance on You Tube. Boy am I out of it and uncool as I never heard of this.

Brett, Raimo and all I am so impressed that you can take off tomorrow (or any trading day)as that is one of the main reasons I am doing this to have the ability to have a life with my family. So far that goal has not been met either but is one of the real ones.

Now I have to get that hampster dance song out of my head!

Jeff, loved the song, appropriate choice but um... just wondering.. where the hell are the guitars? I so kept waiting to hear some sweet distortion and some nice rock! ;-)

Rock on!!!!

Tomorrow is a new day... will we go up? will we go down? who knows?

I don't feel bad about today's event, it sucked but there was no way I could see this comming... I see the big guys on this board being hit too! Of course I wonder how the market will react tomorrow... Does this mean I am going into the new day full of emotion?? How to I get rid of the emotion right now? It's not a good foundation to start the day... what should we do tomorrow? what would be a good rule to go into the trading day? Advice?

Jeff, did you sell today? Or did you keep your positions?


Good night and sorry for all of us that lost money! Still pretty new here but I think it's appropriate to call for a GROUP HUG!!!!

-steven

Asia is down BIG, futures are down a little, and the Rockies have won 18 of 19. If the economic data (PPI & retail #’s) doesn’t give the fed a more compelling reason to lower rates, the sky will be falling… If it does, we can catch it, jump on board or let it pass by. Whichever way it goes, book profits and go with the flow or not.

I must admit, I take a great deal of pleasure in watching irrational behavior in the market place. Or is what I may consider “irrational” really “rational” since the majority is what I consider to be “irrational”. That would make me irrational. As you can see I am clearly crazy, but, that’s alright because it works for me.

Until then, good night!

Brett, sounds good will do, thanks.

Logan I am with you on your assessment for tomorrow.

Stan, I think you are totally correct, you basically did what you should. I debated and I was like "this is an over reaction, this is a scenario to possibly bend the rules." However the more I thought about it, the more I figured that would be dumb, if I plan to be consistent I need to always follow. So that is when I planned to exit my violating trades and my internet went out. Obviously this will happen again, so I think from a probability standpoint who knows if it will work to your advantage over the long run, but my logical guess would be yes it would, so even if it ends up that it would have been better to be a "buy the dip" scenario, you preserved capital which is most important in my opinion, and I didn't always think that way. Lets say you miss the rebound, so what you'll then know its likely safe again and can get in on action, lets say it continues down, you then saved money.

I know you knew all of that already, just had to express my thoughts and say i agree.

I went out and had some drinks which led to Karaoke. Wow, now that I just think of it it was extremely appropriate song, ROFL.

It was...Chumbawamba "Tubthumpin" If anyone knows the song hopefully you chuckle. Part of the main chorus is "i Get knocked down, but I get up again."

Ben

Oh and Scoot, that explanation seems much more reasonable to me, you learned valuable lessons and followed them, good job!

I am going to start using the phrase "by the grace of Kohler".

"and by the grace of Kohler I was properly position sized and didn't lose all my money!"

LOL, ok clearly I need sleep. Goodnight all, likely will dream of blogging.

Ben

NO, this pullback was coming. You had to see it. Look at the indices since the middle of August, straight up. This was coming. Funny how news is timely when a pullback or correction is warranted.

Well, off to a tree. I'll try and check in between hunts as long as my satellite is working....rotten weather for satllite here.....

Plus, i see opportunity to get in plays I've been jealous of!!!