On Tuesday at 4:28pm, just before Apple reported earnings, I found myself suddenly sucked into The Final YOLO madness. Even if you don’t know the details of how this poor soul decided to risk it all going short before the report, most of us know how the story goes all too well. If you were among the folks (of what seemed like thousands) watching the live YouTube stream, and if you’ve ever come close to having that kind of experience firsthand, well, then you know his reaction to the “unexpected” earnings beat was not only horrifying but quite genuine.
And anybody who still has doubts it was real, even after hearing the guy utter that tell-tale phrase “I have to get lucky one time,” is either totally unfamiliar with the gambler’s fallacy, or they might just have a hard time looking at themselves in the mirror.
We’ve all had at least one trade that was a wake up call, but not all of us are fortunate enough to wake up from it. For me there were a few, and in retrospect I’m thankful for each one because those were the moments where I saw I needed to make a change. I needed to filter out the noise and opinions and find my own way to trade before I blew up my account and end up destroying myself in the process.
When I came up with TVO, I openly shared it with the idea that even if could help just one trader from a YOLO-like fate, it would be worth it. Right now, if that trader is you, remember… you only live once, and I’m here to listen. -MD
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