12:20 Update
One of the best thing about having subscribers is that when I screw up they let me know it right away. In this instance I made a mistake against me. I saw a final on Eastern Mich at 6 pts but turns out they only lost by 4 which goes from a loss to a cover! So a respectable 3-2 day turns into a great 4-1 day for plays along with a win on the college hoop setup. So a +2.33 Unit day less the vig.
That brings this month’s college hoops to over 70%!!! Now I will not raise the monthly fee:) Stays the same…so I expect to see any of you that are on the fence to be a member very soon!
11:55 Update
Tuesday things picked up with 5 plays and 1 setup. Plays went 3-2 with College hoops 2-2 and the NHL with Toronto +133 a winner. So a +1.33 unit day less the vig. Our setup in college Hoops on Georia Southern +11 was an easy winner only losing by 3.
Today another full schedule of games. And so far its shaping up to be a busy day similar to yesterday. But its early and a lot can change by game time.
Our college Hoops this month is going at a blistering 68.2% clip! For the season just under 60%! Its not too late to get on board. Plenty of college hoops still left including March Madness. In addition NBA , NHL and NFL still still being handicapped with plays and setups.
This service is the finest you can find. Not only do you get plays and setups for a small monthly subscription but you access to my mind(scary I know) for whatever guidance you wish. Just push the Paypal button on the upper right and I can have you on board for tonights games. Hope to see you join a group of handicappers that will most likely be in a select small group that can say at the end of the year they had a great year!!!
When will it end. Yesterday morning before the open everyone was thinking finally the carnage ends. The market was gaping up over 1% before the open and all you could see was a sea of green. And more importantly no Fed Governors on tap to calm us. But as soon as the market opened it was apparent that selling would be the theme of the day. And sure enough the market went into the red.
If your fairly new to trading your most likely in shock. If your new and had not got to the point in the book where they talked about position sizing and money management then your most likely screwed by now. If your one of those then you need to sell and regroup and not trade again until you have that concept in your repertoire.
If your a poker player and are new to trading then perhaps the following analogy will help you understand. When I played 50 to 60 hours a week for about 12 years there were certain things you could count on happening. In a month there would be several days where nothing would go right and you will hardly win a hand. 10 hours of misery I call it:) So 2 days a week expect it. Then on the other side expect 2 days of pure bliss. Nothing can go wrong. The rest of the days is a tug of war …a battle…testing your skills to eke out a profit. And that is where the real money is won. So 4 days a week your play is not going to determine your outcome. Its a given.
Now During this 12 year period about every 3 years your going to have a 1 to 3 month stretch that will test every fiber in your body. The first time this hits you it will be a true test of your desire to play poker full time for a living. Many exit there poker life at this time. Then the next time it occurs its not much prettier but then the lesson starts sinking in (or it better) that this may be a regular pattern in your poker life. But its almost as stressful as the first time as you wrote the first time to a 1 time extreme variance. Then the 3rd time is where you get the aha moment. And when you do you smile and deal with it. You embrace it for what it is and that its just another one of the hurdles you have to endure to be a professional.
Whats amusing is that there are many poker players that have lived out here in never never land for 30 to 40 years and never get it. When it hits them the drama begins for as long as it lasts. Over and over and over:)
Now back to the market. What we are experiencing now is the once every 3 year event playing poker. Although here the events typically are not every 3 years as there is a built in bias to the upside in the markets where in poker there is no bias except a negative one all the time.
So take this for what it is.You have no control over it only the way you view it. Avoid becoming one of those types that the drama starts when things get tough in this arena. Understand it and learn from it. If your young you have a long trading career and will see things that put this as a blimp:) And remember as Spence would say ” Let go and enjoy the fall”
Well falling I am! I have on a portfolio of stocks and a few mean reversion trades. Fortunately I mastered position sizing and risk control a long time ago. So I can view the last few weeks without letting human nature distort my thinking.
My plan today is let the market settle down and see if I see any opportunities to profit from this carnage! And that is what you should be doing to.
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RickJ
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