I LOVE being scared! Recipe for that is very tight stops (today it's 7 ticks in NQ) and high leverage. Because it forces you to be selective and avoid taking crappy trades. I only want those with good potential and microscopic risk, no compromises!
Have you noted a distinct change in the way the CL oil contract trades over the last 60 days or so? surf
Icahn is trying to burn my ass on HLF--- ---Will look to add to position-- at opportune time-- doubling down. I dislike this company emensely and still believe I'll win by the end of the year.
If you trade by the seat of your pants, if you trade by emotions, if you trade by anything other than mathmatically arrived probabilities - you are going to get your ass burned. Throw ego out door Surf, this is your biggest failing in trading and your TA hate belief system.
Thanks for the constructive criticism --- I truly appreciate it. With that said Fortunately, it's a very small position in HLF. Yes, I have an issue with greed, that I'm working on ---- Yes, there was not much study in the HLF trade-- it's not a price driver trade and based on my opinion that the company is a pyramid scheme--- then having that strong belief confirmed by Ackmans research. Weak reasons? I'm not so sure yet. Regarding ego, I am of the belief that strong convictions, to a point, are a must for a trader /investor. Otherwise, you'll get shook out quickly. But, certainly, the ego needs some common sense controls such as position sizing so your account is not in danger in even the most adverse single position move. Thanks, surf [/QUOTE]
I agree with that, having a narrow mind re how your system works sounds negative, but is a must imo, gotta have conviction but still an have open/receptive mind on new possibilities which you can add to. My trading is very narrow focused, 1 x instrument only, anything else adds to confusion for me.
For the sake of journal integrity and to further accentuate your authenticity, was there a place in the journal where you initially stated that the HLF position was indeed, a very small position ? Thank you
I know he did, was trying to promote his honesty, which is something very rare on this site. Many will take approach of: ie winner and on HUGE site, after the fact of course or ie loser on very small size, again also after the fact not the case here with Surf
Here you go, back on 1.9, mentioned the small size of the position. Folks may not like or agree with my stance on TA, but no need to question the integrity of the journal. Wins and losses are fully disclosed at all times. Peace, surf