Greetings... this is first post for me, because I usually don't blog but wanted to share something.  

I haven't introduced myself yet to the community--  here's a little bit about my trading history:  

I've been trading on and off for a couple of years, did Superman Protege but needed to take a break from the market after a few months because it was in a downturn and also I was busy with other things and had to use my money on rent and stealing underpants.  However I started up again at the beginning of the year, trading household names, mega-caps, turn-around stories, etc just off of YHF using the Superman method.  I made decent gains doing this despite constantly needing to adjust my principle, and it gave me some confidence to try a couple months on Supertrades again.  I'm still learning the ropes of trading these more volatile stocks, yet I still feel that there is potential in doing it.

And then the subject of HMNY:

There is always a play with these things that is so good that it kind of becomes a ghost behind all of the other things you're looking at.  The most recent ghost has been HMNY. 

The hardest thing about trading stocks that can go up and down an entire month's worth of megacap movements in a single day, is that when you miss a move that's like HMNY you have to watch it every single day, seeing it double, triple, quadruple, quintuple in price.  It doesn't matter if you're doing good focusing on the plays at hand, sizing positions and risk etc... when that stuff happens and you're busy looking at other stuff, it can really shock you out of being able to use your head.

I entered HMNY a couple of weeks ago at 2.86 and quickly took off at about 3.10 when it started to come down because the thing had been doing some nasty pullbacks off of spikes for months, and I didn't think this was going to be different.  The 400k subscribers thing was interesting, and in the mania of the market this year I should have expected that there would be lots of money going into it, especially seeing Netflix's place in the whole "FAAMNG" idiom.  However, I said "enough's enough, time to move on, look at other things..." but it didn't quit.

The main reason I'm talking about this is that I'm trying to get it out of my head.  I think it's influencing everything I trade, because I keep thinking, HMNY HMNY HMNY, here's what I would have made.  It's insanity.  This is the toughest thing about trading microcaps-- you see some things like this, you see people tweet about how much they made off of "that low float thing that doubled my account size", and you want that to happen to you.  It's human nature.

I am thankful and appreciative that traders on here are devoted to finding and sharing plays on chat that have explosive potential, based on a thesis rather than hype.  I am hoping I can hang in this community but to be honest, I need to really step up my research game and discipline, rules, if I want to get anywhere.  I'm still far from eating any principle, and this is due to the work I put in earlier in the year...  However, I have to get this off of my chest otherwise it is going to destroy my trading.

Hope everyone else is doing better with all of this... happy trading, and remember to take profits especially when it hurts.  And if you have some pointers, it would always be great to hear.  Thanks guys!

 

--patromeda47--