Playing with House Money

This is the fundamental problem with making money.  You then aren't playing with your hard earned money, you are playing with winnings, and you get wreckless. 


When I started this blog, I made more money than you could probably guess in the first month or two (sept-oct). 


I was aware of the wreckless concept but I pretty much blew all those winnings sense then.  I got into the mindset that I had to keep investing and keep investing, or I would be missing out on opportunities. 


This leads to me doing such jibberishness as making official picks of December lol.  I don't even want to link to them. 


My first real lead, which is why I even opened up these accounts to begin with, was Sept 7.  I waited actually over a year for it, and it paid off big, I think I tripled my money that Wednesday by the next Tuesday.  I also had a tip on Sept 23rd.  By that time I'd lost a large portion of my winnings, but made a ton more on these few days, going long a couple days through the fed meeting, then flipping short.


I had good data in Early oct as well.  I was following that resistance line that I thought was biblical, and got way short before the plunge coming after comey announced he was reopening the email case.  I hit about 6x my investment from sept6 at that point.  I could have paid cash for my dream house at that point.


From then on it was all crap, I kept trying to catch the end of the fall and go long :( then the line broke costing me more money.  Then I was short before the election, that looked brilliant, and I may have been up as much as 10x my initial investment, theoretically, but that vanished by the open.  Then I tried to pick the top of this rally a few times.  I never had good information for these plays.


It's also worth noting, is that if I just picked my spots when I had the most confidence, I could have made those huge gains, and not blown it when playing with the house money on lesser confidence plays.


It seems as though I am into some new opportunities now though.  So I will carefully play these, and blog about them.  Hopefully I will recover during this time.  The good news is that this has been a highly educational process. 


I will post this information soon.  Of all the stuff I've used, timing arrays have been good.  Mannarino's picks when I've done them, have been really bad.  I can believe that he makes money with them, but not nearly as efficiently as he implies, and only with constant monitoring, which I can't do.


Also, I'm genuinely cleaning house on predictit.com.  You can't invest large portions of money though.  I'm not sure if the market is big enough to have even like 5 people using the same strategies without significantly affecting the markets, so I probably can't blog about them.