I just came back to my house. There are 4 police cars and 6 police officers in my home. The front door had been knocked off the hinges, stuff everywhere, and apparently they were looking for something. So I’m stuck outside with this police officer and they are inside searching through everything, even our laundry.
They checked inside my closets under my mattress. They tore my things apart. So, as you can imagine, I’m getting upset, and I’m trying figure out what’s going on.
I asked if they had a search warrant, and if I could see it.
The cop in my bedroom yells, “Where did you hide it at? We know it’s here! We are searching.”
Then I yell back, “If I had an idea of what you’re looking for sir, maybe I could help!” He shoots me the “you wanna go to jail?” look, so I shut up and watch one of the other police officers look down at his phone.
Then he shouts, “Guys Stop! Hold on. We’re in the wrong house! The #Pokémon is next door!”
The above post got a lot of attention on my facebook personal page – I got so much heat from my family and close friends, I could relate to why most traders have heard the statistics…”95% of traders lose money,” “Only 5% of traders can make a living at it,” or “Only 1% of traders really make money.” Whatever the particular number is from recent studies, the fact is, many traders will lose money and it simply cannot be avoided. All sorts of reasons are given for it, such as poor money management, bad timing, bad government policy, poor regulation or a poor strategy.
These are all well and good, and some of those do definitely play a role in individual trading success, but there is a deeper reason. A deeper reason as to why most traders will lose regardless of what methods they employ, its simply not understanding the truth, that the market is probably rigged, probably setup this way!!
Retail traders fall in the pitfall of listening to other friends, fellow traders who bought the stock that went from $20 to $200 (or whatever number %) and analysts all over the TV saying it is, then you feel that you are missing out, to only jump in too late!!. Or they might decide to wear a bear hat, just because they are skeptic and want to be contrarian, to find out that they lost shirt shorting on a breaking out stock.
If you fell for the above joke, like I did, feel free to share this post. Don’t take life too seriously, and enjoy your day.
Oh and Remember this chart?
Many traders felt that we are at the top every time we hit record all time high
$SMMT Sarepta $SRPT, Summit Therapeutics Enter Licensing Agreement for Utrophin Modulator Pipeline -SI
