Black Monday - December 31, 2012
- Thread starter bond_trad3r
- Start date
No dude, I'm saying you are trading noise. It's analogous to getting short the e-mini and taking a whopping 2 handles out of it of some doomsday call.
++1.
Sometime I just ask myself how many ET here are trading noise (without stop) and claim they have the best system in the world. Those system will blow up eventually when a strong trend occurs.
Position Sizing on "Noise" ?:eek:
I will lose my voice if I want to convince you guys. I cannot imagine how many traders believe that stop loss can save their ass and it is OK to just enter a stupid trade and put a stop loss and assume that they are safe. You have to enter a trade intelligently and be able to tolerate the pinch that the market might give it to you. The CL trade that I recommend was to short at market open and close at 10AM with loss or profit. I am confident that you will make 50 cents. I don't put a stop loss. I repair my trade and 99.9% of the time get out with profit.
CNBC: No Fiscal Deal, Senate to Return for Dramatic New Year's Eve
Recipe for an economic black hole ?
(Sorry, a little aside to this thread, but drivers for trader consideration for shorting now may be the same conversation for putting on the big put LEAP. This is the time of the year to REVIEW, look at CURRENT, and consider the FUTURE as seen below in the text.)
And you thought the deficit was the issue. An even larger one exists to exacerbate it. Ref # 3 below.
1.
1998 and forward
Ignore David Walker. He made many trips to the hill and on television and the news for years as CBO chief with his charts starting in 1998 to persuade Congress and America and said this condition would occur in the second decade of the new millenium. He made his wake-up America (my words) tour with town meetings and local media across the country. Ignored... as evidenced by the Electorate indifferently responding with the choices it made.
"[David Walker] compared the present-day United States to the Roman Empire in its decline, saying the U.S. government is on a "burning platform" of unsustainable policies and practices with fiscal deficits, expensive overcommitments to government provided health care, swelling Medicare and Social Security costs, the enormous expense of a prospective universal health care system, and overseas military commitments threatening a crisis if action is not taken soon."
Source: Wikipedia
http://en.wikipedia.org/wiki/David_M._Walker_(U.S._Comptroller_General)
2.
Jan 1, 2013.
Fiscal cliff : a manifestation of political paralysis and expression that the highest leadership of the land is resolutely ignoring the significance of our condition and won't appropriately address it, as in 1998 and subsequently. There was not a gnat's difference between the increasing deficit curve to 2020 between the two partys' negotiating offerings.
Source: Lou Dobbs Tonight (blackboard illustration)...Fox Business News
3.
2013 to ...... ?
Demographic quicksand problem snowballing at accelerating speed.
This is a structural issue that makes political paralysis pale in comparison. Three minute video explains it all. Santelli interview a few days ago on CNBC. First link at next thread.
http://www.elitetrader.com/vb/showthread.php?s=&postid=3712161#post3712161
(Sorry, a little aside to this thread, but drivers for trader consideration for shorting now may be the same conversation for putting on the big put LEAP. This is the time of the year to REVIEW, look at CURRENT, and consider the FUTURE as seen below in the text.)
And you thought the deficit was the issue. An even larger one exists to exacerbate it. Ref # 3 below.
1.
1998 and forward
Ignore David Walker. He made many trips to the hill and on television and the news for years as CBO chief with his charts starting in 1998 to persuade Congress and America and said this condition would occur in the second decade of the new millenium. He made his wake-up America (my words) tour with town meetings and local media across the country. Ignored... as evidenced by the Electorate indifferently responding with the choices it made.
"[David Walker] compared the present-day United States to the Roman Empire in its decline, saying the U.S. government is on a "burning platform" of unsustainable policies and practices with fiscal deficits, expensive overcommitments to government provided health care, swelling Medicare and Social Security costs, the enormous expense of a prospective universal health care system, and overseas military commitments threatening a crisis if action is not taken soon."
Source: Wikipedia
http://en.wikipedia.org/wiki/David_M._Walker_(U.S._Comptroller_General)
2.
Jan 1, 2013.
Fiscal cliff : a manifestation of political paralysis and expression that the highest leadership of the land is resolutely ignoring the significance of our condition and won't appropriately address it, as in 1998 and subsequently. There was not a gnat's difference between the increasing deficit curve to 2020 between the two partys' negotiating offerings.
Source: Lou Dobbs Tonight (blackboard illustration)...Fox Business News
3.
2013 to ...... ?
Demographic quicksand problem snowballing at accelerating speed.
This is a structural issue that makes political paralysis pale in comparison. Three minute video explains it all. Santelli interview a few days ago on CNBC. First link at next thread.
http://www.elitetrader.com/vb/showthread.php?s=&postid=3712161#post3712161