A no-brainer day!

Late to the thread I know but my hat's off to Kymar for the admission but I have to admit that I didn't wait for the opening bell (why wait when you can make a dumb move in the here and now!). I shorted CSCO & QLGC the night before the big rally after their earnings reports. They rallied up significantly and I foolishily tried to pick the top, after all their earnings weren't that good. So they continued to run up that night and I knew I was in trouble but figured I'd try to cover in the morning on some kind of pull back after the gap up. The market wasn't having any of it (I've seen these crazy bear market rallies before and was always finding myself on the wrong side, so not this time sister!), so I covered both shorts in the pre-market and went long big on BRCD (figured if QLGC & the other storage names were gonna run BRCD would freak out to the upside). But I sold BRCD a little too early after the open, but who knew we wouldn't close the gap somewhat at least before moving higher. Ended up going long the rest of the day and made up for the the two shorts and them some. Actually took a loss on a second long in MWD. Made some on a long earlier in the day, then went long again after it pulled back and it went a bit but couldn't crack 49. Someone was selling that mother all the way into the close, and I took a small loss on that one. Here's 20K, bought those, here's 50K, bought those, here's 30K, bought those, here's 25K..............all afternoon (I didn't buy 'em, but someone did). That sucked.

Well, good trading to all.
 
There is no such thing as a "no brainer" day. Ever. Not if you are serious about trading.

If you wait until 10 AM and most of the move was spent in the opening half hour but just a dribble is left, then you could get bamboozled into buying the highs of the day.

For every cliche there is an opposite. For every random piece of scenario advice there is an opposite way the scenario could play that will smack you upside the head.

Solution? Don't seek one off advice from some poster on some website. Develop your own strategy and apply it day in and day out so that you get the good with the bad, instead of exposing yourself to useless coinflip type advice
 
Solution? Don't seek one off advice from some poster on some website. Develop your own strategy and apply it day in and day out so that you get the good with the bad, instead of exposing yourself to useless coinflip type advice


darkhorse,

Why don't you back off. Not that candle needs me to defend him, but I for one respect candle as one of the best traders on this board. He's been here a lot longer than you and has earned our respect with past posts. We all come here to learn, and judging by the number of posts you've done since Feb. (404), you might find it better if you did less posting and read more instead. :mad:
 
Agree with Darkhorse, there is no such thing as a no brainer day, sometimes it's just easier for a particular style or trader . Also, stockerup, I think those who are systematically looking for advices are suckers .
 
Originally posted by stockerup
darkhorse,

Why don't you back off. Not that candle needs me to defend him, but I for one respect candle as one of the best traders on this board. He's been here a lot longer than you and has earned our respect with past posts. We all come here to learn, and judging by the number of posts you've done since Feb. (404), you might find it better if you did less posting and read more instead. :mad:
More...



What does trading ability have to do with anything?

Off the cuff advice rarely helps, I don't care who it's from. Paul Tudor Jones or Marty Schwartz could show up on this board and start handing out tips, but unless you took the time and effort to incorporate their offerings into your own method and learned to apply that method consistently, their words would be useless to you.

I won't even start on the laughable idea that there is any correlation whatsoever between number of posts and quality of posts.

Let it suffice to say that I was not specifically dissing anyone's ability. My point was to criticize the indiscriminate asking and giving of advice, and making a point, however harsh it may have sounded, that can end up helping other traders around here.

I trade with real money to pay real bills, and others around here do also, so excuse me if I occasionally get fed up with the attitude that this is a hobby or a fun distraction.

p.s. if u don't like me u can always ignore me, as its clear you think i have nothing to say
 
Originally posted by stockerup
darkhorse,

Why don't you back off. you might find it better if you did less posting and read more instead. :mad:
More...

I respect a guy who lives by his own advice. Being two days from his 1 year anniversary on ET, stockerup hasn't yet graduated to member status.

Now Darkhorse on the other hand is on the other extreme of posting frenzy. Here are my predictions for Darkhorse assuming he makes it to his 1 year ET anniversary posting at the same rate. It is with utmost respect for Darkhorse (in all seriousness) that I post this, also knowing that he has a good sense of humour.

Darkhorse will have posted over 1700 times.

He will have used approximately 45% of the words in Webster's New Collegiate dictionary, and will have used several hundred words found in no dictionary.

He will have repeated nearly every cliche "in the book" twice.

He will have changed his signature over 500 times.

Baron will have to add two new hard drives to keep up with all the posts.

Darkhorse will have posted the equivalent of 3 novels, 2 short stories and several dozen poems.

He will have had in-depth conversations with hundreds of users, consisting of several dozen people. :eek:

People replying to "Darkhorse" will mistakenly type "Darkhouse" 35 times.

He will have the dubious honor of having replied to every post with the word "darkhorse" in it.
 
LOL oh please no

my wife already gives me an ice cold glare every time she sees this site up, she'll be smacking me upside the head with a shovel by then

i'm trying to kick the habit i really am, let me out oh please I want out, I feel like Chris Rock in New Jack City

Just Say No to elitetrader

This is your trading account.
This is your trading account on Elitetrader.
Any questions?

one more post, honey please just one more post...

p.s. is my sagacious vocabulary really that obfuscatingly opaque?
 
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