HHWW continues faking me out and and I continue to victimize myself by trading it. I have been a much more consistently profitable trader this year compared to last not by having better successful trades but by avoiding more unsuccessful trades. I have never been able to trade the NXTH-type pumps well so I would be better off to just avoid them.
I apologize for my earlier post today that is now deleted. I had had the idea for some time to do an April Fool’s day joke (and what fun is it if it is actually on April Fool’s?) about me blowing up my account but obviously doing that when I was having a bad day and in the middle of the trading day showed poor judgment (just like my trades on HHWW).
Daily profit: $1426.17 (this is only because of how I account for boxed positions; my net economic loss today was $2613.83)
0 thoughts on “Trade non-recap: Do not go chasing white whales”
No doubt HHWW has been a tough nut to crack, and it does resemble NXTH, etc.
In theory, though, having a short memory (if disciplined and rule following on entries, exits and trade management) is a plus in this business overall. Wiping the slate clean each time out is the holy grail of psychology, although it is easier said than done, of course.
That said, it also pays to remember WHAT *exactly* you are best at and what you are not good at.
Specialization niches and mastery of a few pet setups that are known like the back of the hand are the hallmark of most of the best traders, in my humble opinion. They tend to not be well rounded, but very good at what they know perfectly and understand just as well, and they wisely avoid whatever they do not, etc. As a rule, they tend to avoid discretionary trading, as well…
How/when did you get shares of HHWW to short? I couldn’t get shares w/ IB this am … though now am glad I couldn’t.
“That said, it also pays to remember WHAT *exactly* you are best at and what you are not good at. ”