I'm really starting to like Benjamin Shalom Bernanke, especially since he reprimanded the Fair Weather Friends on Capitol Hill in his speech last week.
Plus, he does things to my portfolio that no man on earth - other than 9FM - has done before.
This is why we trade - and today was a prime example of what could go right with one's portfolio in a chart beat. I ended the day with a pretty strong performance, but this time, I won't gloat until I at least have six consecutive months of profit-taking. So, no ForexDiva Trading Dolls that say: "I'll trade anything with legs" just yet.
I've been in profit-taking mode for about six consecutive weeks and every time I've had a winning streak in the past, I haven't been able to maintain it. But now, I've got to keep the momentum going because if I can do it, then I'll have something pretty big in my hands - financial freedom! With my new capital injection, which is what I traded all month, I was able to achieve a pre GEN and ZZ loss ROI of about 20% - even on the small % gains I took. Even with the losses, I made money. The key is volume if you're going to take a small margin.
I can't stop now and perhaps everyone else who reads my blog even occasionally can see my biggest trading error whilst I remained blind to this trading fault until now. But finally, I'm starting to see what I did wrong in some of my previous trades. Whenever a trade starts going right, I totally, totally fall in love with it - and rely only on that stock for profits.
This led me to take profit way too slowly with C and I can't allow BAC to now become like that. So, I'm going to force myself to day trade - and you, Happy Shiny Forex Trading Professors with Muscular Wallets and Dark Framed Glasses, will be my witnesses sessessessess - especially the Blazing Hot & Spicy Commodity Traders who drove CENX up by +6.93% at Glencore's Headquarters.
If you want an example of how stubborn I am... take Hurricane Irene. I live in NYC's Zone A and was supposed to evacuate the trading floor according to the Mayor's orders. But did I? Not a phone call from my Mom, my sister, or my little brother could get me to evacuate. A hurricane is just like a typhoon, so imagine if Hong Kong got its residents to evacuate every time there's a typhoon! Anyway, that's how stubborn I am - sometimes, not all of the time.
We can't be too stubborn in trading, or we'll get an HP incident every year...
What I realised during this nymphomaniacal trading escapade is that so long as I make a certain amount everyday, I'll be offsetting negative cash flow - and for now, that is sufficient for the Junk Bond Queen's requirements.
Still, the power of BAC (+8.87%) in my portfolio is very evident. I'm upping my target not only because my average prices are $10.48 in the SBA and $11.72 in the Roth IRA, but because the 200 day moving average is $11.65. If this is a bull trend, we're going to see prices cross above this level and then some.
So I'll let these positions run until the Warren Buffett Effect wears down.
+4.44% SBA
+3.08% Roth IRA
+2.17% DJIA
+3.13% Nasdaq
+2.64% S&P
P.S. Wondering if I helped with the positive US consumer spending levels today? Why wonder?
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