LULU cooked today and I got lucky. Those Sept 40s that were $5+ OUT of the money yesterday and worth ZERO $, and expired in 2 days, I got 50 cents for them this afternoon, and broke even (on that trade). Buzzer beater.
Yogatrader believes in luck = Lakshmi, Goddess of Abundance. Anyone who believes trading is all MBA math, bell-curves and quant models. . . well, you're in good company -LTCM, BS Enhanced Credit, GS Global Alpha, Quant this, Quant that, et. al. Blow up city.
The ancient yogis understood rational models are not so hot in describing real stuff. Human behavior = Market behavior and both are impossible to model. Fat tails predominate in Eastern philosophy.
The yogis were the first Chaos theorists/ Quantum theorists. With that segue, here are some great books on trading:
The Black Swan -Taleb
The Bhagavad Gita -Ganesha??
The Misbehavior of Markets -Mandelbrot
Zen Mind, Beginner's Mind -Suzuki
The Alchemy of Finance -Soros
The Yoga Sutras -Patanjali
When Genius Failed -??
The Art of Happiness - The Dalai Lama
The Elegant Universe -Greene
That's a start to give you an idea of where we're coming from. That's it for tonight. Oh yeah, my positions: just put a low ball bid on the ICE Oct 150s, have ridiculous sell limit orders on my remaining AAPL and LULU Calls. Doing another teacher training Thur-Sun so away from the Internets/ email/ trading/ time wasting/ blogging for 4 days. Heaven.
Oh yeah, got a Thai massage today -highly recommend it.
Namaste,
humbly yours,
yt