Black Tuesday

[pumpanddumper]

Quote from Rearden Metal:

Quitting early after a big gain is the second worst trait a trader can have. No offense, but you'll never be rich.

Nothing wrong with cashing in and not getting greedy?

But sometimes greed is good...

 

[QQQShort]

Quote from Longhorns:

Make hay while the sun shines.

Agreed.

 

[good one]

have fun giving back your profits, not my game.

 

[QQQShort]

Quote from jdeezero05:

have fun giving back your profits, not my game.

We do not suggest you overtrade, instead the concern is that you could be undertrading. Reaching a daily profit goal is not sufficient reason to cease trading, anymore than being short that target good enough reason to continue.

 

[stock_trad3r]

Oh no dow rebounding? Is subprime scare over? Soon wallstreet will stop caring about these stupid funds closing down

 

[capmac]

Looks like Dr Ben Dover is about to put on his gloves...

 

[good one]

Quote from QQQShort:

We do not suggest you overtrade, instead the concern is that you could be undertrading. Reaching a daily profit goal is not sufficient reason to cease trading, anymore than being short that target good enough reason to continue.

sure, once i've been trading the same setup for 5 years that makes sense. to me it makes sense to learn to crawl before you even attempt to fly. 20 YM points a day is my goal. When I've hit that I'm done. If i got a hundred on the week I've been done. 15 point stop, if I get down 40 points on the day i'm done. 120 points down for the week, i'm done for the week. Haven't had that happen yet with this style management yet though. 5k account, 1 car. This morning though, I rode the trend, tried to jog for the first time. Could be done for the week if I want. The remainder of this week has no emotion at all. Market is going to have to entice me with the highest probability setups I can get to risk what I made today, all the pressure is off now on the week.

To me this is exactly why most traders fail. Good look getting "to the moon" when you can't even crawl without falling on your face. Not saying thats your situation, but giving me that advice is just shit advice, no disrespect.

 

[S2007S]

expect heavy selling into the close if the market doesnt see a slight turn around by 3:30pm.

 

[pumpanddumper]

Quote from S2007S:

expect heavy selling into the close if the market doesnt see a slight turn around by 3:30pm.

Let's hope so. Looks like a feeble attempt right now to reverse. Would love to see a close to session lows.

 

[pumpanddumper]

Good close, good times.

Big bounce tomorrow probably...