Almost everything works...

[KastyG]

Quote from blowingup2012:

Price is random. Look at DECK and NFLX once considered leading stocks now crumbling to junk. Live and learn. Price is random.

price is never random, price is driven by volume. Volume is not random, but real trades

 

[bwolinsky]

Quote from KastyG:

Isn't it common knowledge that most breakouts fail?

Then, why buy one on that basis alone?

They've only failed in the last 10 years. For 10 decades before 2000 that strategy really did work, then failed after the new millenium came.

 

[KastyG]

Quote from bwolinsky:

They've only failed in the last 10 years. For 10 decades before 2000 that strategy really did work, then failed after the new millenium came.

thats really intersting factoid, if i live to be a 1000, it's useful!

 

[bwolinsky]

Quote from KastyG:

thats really intersting factoid, if i live to be a 1000, it's useful!

Yes! And then we can really be called a millenial!

Really, Livermoore was psychotic, and got lucky in up markets. His strategies wouldn't work today.

 

[eusdaiki]

Quote from dom993:

IMHO, there are really to separate categories of trading / traders: intraday & swing/position.

- Intraday trading is the most difficult to get consistently profitable at, and there ain't that many books or disclosed methods/systems that offer cookie-cutter replicable profitability (none to my limited knowledge, I'll be glad to learn different).

- Swing/position trading stocks is a little easier because of the long-term bullish bias of the stock market. But then one should measure his trading performance vs the market performance (so-called Alpha), and all of a sudden it is way more difficult to do better than the market on a long-term basis. Still, there are a number of books that can help achieve that (at least, that's my belief).

You forgot the ones who write algos and trade intrasecond...

 

[KastyG]

Quote from bwolinsky:

Yes! And then we can really be called a millenial!

Really, Livermoore was psychotic, and got lucky in up markets. His strategies wouldn't work today.

not as smart as you..you're genius progeny.

but, i' will really try to get all your jokes and innuendo

 

[Random.Capital]

Quote from bwolinsky:


Really, Livermoore was psychotic, and got lucky in up markets. His strategies wouldn't work today.

Of course they would.

Getting "lucky in up markets" has always worked, and will always work.

 

[bwolinsky]

Quote from Random.Capital:

Of course they would.

Getting "lucky in up markets" has always worked, and will always work.

That was his strategy. True buy and hold will always work, but not in the sense that it would be a good short term model to follow if you were trying to day or swing trade.

 

[eusdaiki]

Quote from Random.Capital:

Of course they would.

Getting "lucky in up markets" has always worked, and will always work.

he happened to be short at the right time in 1907 and 1929, out of pure luck? Doubt it.

 

[bwolinsky]

Quote from eusdaiki:

he happened to be short at the right time in 1907 and 1929, out of pure luck? Doubt it.

It was probably insider trading.