What is the profit target?
PS: what happened to your position of long QQQ at 57.55?
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Attention: I am now short!
- Thread starter chaosclarity
- Start date
What is the profit target?
PS: what happened to your position of long QQQ at 57.55?
Quote from tradingjournals:
Market does not reward those who do not think --- in fact it punishes (and I bet it does that a lot) even the top notch thinkers.
Of course thinking and being right is not enough, since the human is part of the trading system. In fact, I believe that the hardest chain to deal with is the human part.
The other part is fat capital.
Exactly.
"X is an easy short" or "Y is a no-brainer buy" is not thinking. If you can't see both sides of an issue then you are not thinking.
Quote from tradingjournals:
SMN at 22.56. Why did you enter close to the top (23.50 area)?
Because my indicators told me to. I do not day trade and my stop is at $21.68. If the trade starts to go against me I can raise my stop. NOT worried. As a trend trader I have to be willing to be wrong at times and willing to accept normal market fluctuations.
Quote from N54_Fan:
Because my indicators told me to. I do not day trade and my stop is at $21.68. If the trade starts to go against me I can raise my stop. NOT worried. As a trend trader I have to be willing to be wrong at times and willing to accept normal market fluctuations.
It means your indicators are hindsight, and useless for timing. If they were useful, they would not have gotten you in at the top.
Quote from tradingjournals:
SMN at 22.52. Why did you enter close to the top (23.50 area)? Now you need 3.37% rise just to break even (not including commission). I wish you well (no sarcasm).
No problem....But this post shows that you have poor comprehension of correct position sizing. Position sizing is determined based on market volatility and stop loss placement. The farther the stop amd more volatility the fewer shares are bought. I am not putting my entire protfolio in this.
The trade is not over yet and even thought I am correct 65%-70% of the time I am wrong about 30-35% of the time as well. Its correct position sizing that makes sure I make money when I am correct.
Good Luck.
Quote from N54_Fan:
No problem....But this post shows that you have poor comprehension of correct position sizing. Position sizing is determined based on market volatility and stop loss placement. The farther the stop amd more volatility the fewer shares are bought. I am not putting my entire protfolio in this.
The trade is not over yet and even thought I am correct 65%-70% of the time I am wrong about 30-35% of the time as well. Its correct position sizing that makes sure I make money when I am correct.
Good Luck.
You responded to a post about market timing and forecasting, not to a post about "correct position sizing".
You can not change the question your responded to, which was:
"Are there any courageous ET members who can tell us what they think the market would do? "
Quote from tradingjournals:
It means your indicators are hindsight, and useless for timing. If they were useful, they would not have gotten you in at the top.
No indicator will get you in at the top or bottom. No one rings a bell saying SELL NOW...and no one rings a bell saying BUY NOW.
You have no clue if my indicators are useless or not. I have plenty of data and statements to prove they do.
It really is sad to see you say such things on here acting as if you know what you are talking about. You obviously do not trade. At first I did not want to believe what Lucrum was saying but your coments really show your naivete.