Shortie's 10 Best Market Calls

How Many Calls Will Shortie Nail (Out of 10)?

  • 10

    Votes: 6 13.0%

  • 8

    Votes: 3 6.5%

  • 6

    Votes: 4 8.7%

  • 4

    Votes: 6 13.0%

  • 2

    Votes: 8 17.4%

  • 0

    Votes: 19 41.3%
  • Total voters
    46
i hope this journal will help me fight personal demons. i think i trade way too much. i take all kinds of crappy trades and needlessly suffer emotionally and financially as a result.

occasionally the moon, the stars and the sun all align quite perfectly and there is this really good trade that i may or may not take or take it and manage to botch is somehow.


why would not i take a great trade?

one reason is that my BP is already tied up in previous garbage trades.

another reason is that i am so preoccupied with currently open trades that i don't have time to appreciate the potential of this pending trade

how do i manage to botch a great trade?

by being heavily involved in the garbage trades i am already in i don't spend enough time to analyze the great trade (entries, exits, what-if scenarios). therefore, often i think i am ill-prepared and don't take full advantage of the opportunity.

one question that bugs me is whether i just imagine that i am able to pick the great trade out of many useless trades i take or is it the hindsight bias.

hopefully, the journal will address this question.

just a few random thoughts...
 
to all the doubting pikers i would like to point out that my position already showed >0.1% of unrealized profit today even if so briefly!
 
Quote from shortie:

to all the doubting pikers i would like to point out that my position already showed >0.1% of unrealized profit today even if so briefly!
More...

QQQQ closed 53.88

still holding 2/3 position: 21 cents of profit unrealized, drawdown 31 cent. so far looks like not a bad average entry price.
 
QQQQ 54.42 midday

Practicing patience by sitting tightly on my hands. Still have 1/3 to add but worried that I am too early to the bull nailing party.
 
Position update: Short QQQQ average price 54.28 (full position), mental stop ~55.4 (~2% away)

QQQQ 54.38 midday - not bad so far
 
Quote from shortie:

Short QQQQ 53.79 1/3 position, no stop yet, expect to bank my profits within one week. should not take more than 2% of heat.

bring out the flames!
More...

Some thoughts about the trade. When I started the trade 9 days ago I had a certain concept in mind as far as where the price might travel short-term. I also had some time-frame by when the trade could be profitable.

Now is a good time to re-assess the situation. Although the trade showed tiny profits briefly, it is taking longer than I anticipated. BUT the original concept is still intact! I am patting myself on the back for giving some respect to the upward momentum and I averaging in slowly.

I plan to give further respect to the upward momentum by taking small profit ~1% on at least 1/2 position (if the opportunity presents itself).

I hope this journal is a success and people will read it. Then I will be able to fulfill the real purpose of this journal: to share my non-trading wisdom!

Here is a piece of wisdom for today: "Even a blind squirrel will scratch his nuts once in a while"
 
You must log in or register to reply here.
Back
Top