Jinx

Calling it a jinx is probably self-defeating, but I have to do it just so I can laugh off the incredibly consistent bad luck I have as far as investments go.   I’ve never made money on the stock market or investments of any sort.  Any disposable money I put for investment managed to be magically disposed off one way or another.   I’m one living testament of bad jinx.

Now, some may say I committed all the cardinal sins in stock market trading and hence the poor results. But what about the private investments that I had the privilege of participating?  Through my doctor uncle and their investment group, I’ve had opportunity to invest in quite a few private companies.  All of them had good stories and the timings were also good.  But all or them went belly up and I lost all of the money I invested.  EyeTicket was a biometric company specializing airport security.  MediaOne provided kiosks in stores for ordering products throught the internet.  AcceleratedCare offered  mobile medical imaging labs that enabled remote diagnoses. Anyways, it took me these huge losses to convince me that doctors are the worst investors.

Now what are some of the examples of jinx in my stock market trading?

  • I bought 10 times the shares than I had intended.  The stock went against me.
  • I thought I book the profit at the top, but as I enjoyed watching the chart came straight down, I realized I had bought shares instead of sold.  My wife witnessed this. I went dumb founded.
  • I can’t count how many times my stop orders were triggered at the low of the day.
  • The trades I have no stops are the ones I should have had hard stops.
  • I subscribe to trade alerts.  The alerts that I missed was the ones that hit home runs.
  • The moment I bought, the stock started to go down.
  • The moment I exited due to hours of boring consolidation, the stock rocketed out of the trading range.
  • The big winners are the ones I have the tiniest of positions.  The big losers are the ones I invest the most.
  • My short and long swing trades entered at the same time both lose money.
  • My limit order to exit for a profit was missed by 1 cent, and the position turned into a big red.

The list goes on and on.  It’s no fun reading it.  Some may say these are gross generalization but my portfolio should show some traces of evidence.  Aside from the dwindling portfolio value, take a look at today’s snapshot:

Just about every thing went wrong.  The SPY is up over 24% since last August, but I have been holding QID the whole time. And the table does not include the other 1/2 QID position I took off last week as a loss.

While the indexes all goes stright up, which I shorted, the long positions I do hold long are in big red.  The bullish call spreads on (M, CAKE, SNI), naked puts (TBT, SLV, EGO), long calls (GLD), 50-50 setup (YONG, ACTV), frothy Indian internet mo-mo play (SIFY), recession thrifty play (DLTR), materials IPO (MUSA), Chinese IPO (GAGA), copycat play from Informedtrader.com alert (WHR), story plays (AONE, SWHC), financial IPO calls (CBOE), miners plays (GSS), friend’s company play (INFN), wife’s practical recommendation (LF)… Can you imagine this is just current snapshot?!   A big mess.

Much of this was acquired when I was very frustrated by all the jinx and the fact that the markets keep going up while I short and lose money, and ended up as bag-holder of these individual issues.  My logic was, well, if TA doesn’t work and the dumb money (those who buy and hold without doing anything) prevail, then let me just put out some “dumb” money as well.    Well, in so fighting against the jinx, I got more jinx in return.

This is one reason I decided to start writing and getting my acts together.  The first step is to trade light and build up some confidence.

PS. An update:  my 401K stocks down between 1.5% and 3% today, but my SDS (short SPY) only up .50%!!!

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