Surf's Special Situation Journal

cornix · Feb 14, 2013

Quote from marketsurfer:

I disagree. Being over leveraged or scared means you can't allow the ATR of the market to fluctuate without being prematurely stopped out

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!

marketsurfer · Feb 14, 2013

Quote from cornix:

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

marketsurfer · Feb 14, 2013

Quote from marketsurfer:

Thanks for the TA--- I'm on the beach and away from the charts, but I'll have a look when I return. Target is 20 on HLF. peace. 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.

themickey · Feb 14, 2013

Quote from marketsurfer:

Icahn thinks he's burning my ass on HLF--- well, truth is he's gonna get burned big tome on this trade. 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.

marketsurfer · Feb 14, 2013

Quote from themickey:

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]

themickey · Feb 14, 2013

Quote from marketsurfer:

....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.

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.

daniel33 · Feb 14, 2013

Quote from marketsurfer:

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 ----
Thanks, surf

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

themickey · Feb 14, 2013

Quote from daniel33:

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 [/B]

Yes I believe Surf mentioned previously it was only small.

daniel33 · Feb 14, 2013

Quote from themickey:

Yes I believe he mentioned previously it was small.

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

marketsurfer · Feb 14, 2013

Quote from marketsurfer:

Surfers, SEC just opened probe into HLF-- there will likely be some serious dirty dirty dirty laundry here--- entering a small short at 39.39--- HLF is a joke and its about time something happened. 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