Short advice segment from a YouTube video by Kardec Trader (May 4, 2023) warning traders against overfitting to a single winning security or market environment. The speaker advises maximizing gains while a market or name is 'hot' but recognizing when that cycle ends and avoiding emotional attachment to the trade or instrument.
That's another thing with traders, right? They'll trade a certain security or instrument and they'll make so much money from it. And after they make so much money from it, they'll try to keep milking it. There's cycles where a name or a market environment is hot. And your job as a trader is to maximize that as much as possible during that period. And then it's also your job to recognize when that period is done and like, not fall in love with that name or that market.
