Complete BS, have 2 close friends who went to Wharton. Just like all Ivy Leagues, there is a lot of politics involved and it's not based on any true intelligence. Book smarts yes, but book smarts are generic and you cannot create or duplicate true intelliegence, common sense and street knowledge mentality (which is very useful in markets). Stop pretending Wharton is anything great as opposed to the Ivys--it's hook ups, contacts and an "old boys club", just like all of them. Does not have anything to do with trading or investing, as one can see by your strategy taken out of Investor's Business Daily.
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Cutting losses - not the best idea
- Thread starter mrmarket
- Start date
Complete BS, have 2 close friends who went to Wharton. Just like all Ivy Leagues, there is a lot of politics involved and it's not based on any true intelligence. Book smarts yes, but book smarts are generic and you cannot create or duplicate true intelliegence, common sense and street knowledge mentality (which is very useful in markets). Stop pretending Wharton is anything great as opposed to the Ivys--it's hook ups, contacts and an "old boys club", just like all of them. Does not have anything to do with trading or investing, as one can see by your strategy taken out of Investor's Business Daily.
Quote from Mecro:
Complete BS, have 2 close friends who went to Wharton. Just like all Ivy Leagues, there is a lot of politics involved and it's not based on any true intelligence. Book smarts yes, but book smarts are generic and you cannot create or duplicate true intelliegence, common sense and street knowledge mentality (which is very useful in markets). Stop pretending Wharton is anything great as opposed to the Ivys--it's hook ups, contacts and an "old boys club", just like all of them. Does not have anything to do with trading or investing, as one can see by your strategy taken out of Investor's Business Daily.
Geez..aren't we bitter....What's the matter...did you get a "thin letter" when you applied?
Update:
As of today, of my last 51 trades, 47 were winners and only 4 were losers. WSB was up over 10% today, moving into the black. This is a perfect example of what I was saying. I was never going to sell WSB until I knew for certain its fundamentals had changed.
In the meantime, the Attention Deficit Disorder traders were selling their positions because the stock moved against them. Translation: If you buy high and sell low, you lose money. Cutting losses is for losers!
As of today, of my last 51 trades, 47 were winners and only 4 were losers. WSB was up over 10% today, moving into the black. This is a perfect example of what I was saying. I was never going to sell WSB until I knew for certain its fundamentals had changed.
In the meantime, the Attention Deficit Disorder traders were selling their positions because the stock moved against them. Translation: If you buy high and sell low, you lose money. Cutting losses is for losers!
I've checked you out and I must say that your track record is impressive!
Your ability to use fundamentals as your primary mode of analysis and yet be consistantly profitable is quite amazing!
I myself like short term trading on technicals which consistantly works for me and I have been able to outperfom by & hold.
However your ability to do just the opposite and yet be profitable I would say that your performance gives credence to the fact that fundamental analysis can be profitable if you know how to use it correctly.
Your track record is almost as good as mine.
I'm blushing.
Great job.
Your ability to use fundamentals as your primary mode of analysis and yet be consistantly profitable is quite amazing!
I myself like short term trading on technicals which consistantly works for me and I have been able to outperfom by & hold.
However your ability to do just the opposite and yet be profitable I would say that your performance gives credence to the fact that fundamental analysis can be profitable if you know how to use it correctly.
Your track record is almost as good as mine.
I'm blushing.
Great job.
Quote from mrmarket:
Update:
As of today, of my last 51 trades, 47 were winners and only 4 were losers. WSB was up over 10% today, moving into the black. This is a perfect example of what I was saying. I was never going to sell WSB until I knew for certain its fundamentals had changed.
In the meantime, the Attention Deficit Disorder traders were selling their positions because the stock moved against them. Translation: If you buy high and sell low, you lose money. Cutting losses is for losers!
Quote from T-REX:
I've checked you out and I must say that your track record is impressive!
Your ability to use fundamentals as your primary mode of analysis and yet be consistantly profitable is quite amazing!
I myself like short term trading on technicals which consistantly works for me and I have been able to outperfom by & hold.
However your ability to do just the opposite and yet be profitable I would say that your performance gives credence to the fact that fundamental analysis can be profitable if you know how to use it correctly.
Your track record is almost as good as mine.
I'm blushing.
Great job.
T-Rex...thanks for the kind words. It's good to finally see someone from ET who recognizes excellence. The fact of the matter is that there are many many many ways to make money investing/trading. Why is it that so many of you insist on slamming my style just because it's not yours.
I just wanted to enlighten some of you by letting you know there was another way to do this whole thing right.
thanks for being a standup guy T-Rex...I wish there were more like you!
mrmarket,
This is an obvious question, and I suspect you have answered it previously but let me ask it again. Have you ever looked at the effect on your returns of trying to hang on to winners after they have hit your 15% target? I have in mind something like moving to a breakeven stop after a move into positive return land and trying to hang on for the big winner. Even Bill O'Neil advocates this if the stock meets certain criteria.
This is an obvious question, and I suspect you have answered it previously but let me ask it again. Have you ever looked at the effect on your returns of trying to hang on to winners after they have hit your 15% target? I have in mind something like moving to a breakeven stop after a move into positive return land and trying to hang on for the big winner. Even Bill O'Neil advocates this if the stock meets certain criteria.
Quote from AAAintheBeltway:
mrmarket,
This is an obvious question, and I suspect you have answered it previously but let me ask it again. Have you ever looked at the effect on your returns of trying to hang on to winners after they have hit your 15% target? I have in mind something like moving to a breakeven stop after a move into positive return land and trying to hang on for the big winner. Even Bill O'Neil advocates this if the stock meets certain criteria.
Good question..but another of the O'Neill myths that need to be resolved. He says let your winners run. I say, get off of a fast horse and get on a faster horse. If a stock goes up 200%, it's not as good as compounding the profits of 5 consecutive trades of 15% or better.
People say I leave money on the table....I say watch how FAST the stocks I sell go up vs. how much FASTER the ones I buy go up.
Got it??
Quote from mrmarket:
Geez..aren't we bitter....What's the matter...did you get a "thin letter" when you applied?
Ok forget it, you are right and everyone who doubts is wrong. This is pointless, you are a deluded fool that refuses to look any other way except your own. No wonder, true traders make a damn good living day to day, while you need a real job to support your "investing" practices.
To anyone who still continues to post praises for mr. supermarket, I strongly suggest you do a search on old threads involving mr.market. If you understand the markets, you will see how pathetic his method and his claims truly are.
I'm done, I was just trying to help out some of you who actually might be fooled into locking up your money in mrmarket's (or should I say IBD's) strategy. Feel really bad for that one guy who plans to take out a mortgage on his house to "invest" based on mrmarket's criteria.
Sad, I thought everyone already knew that mrmarket is one of the wacky characters of ET.
Quote from Mecro:
Ok forget it, you are right and everyone who doubts is wrong. This is pointless, you are a deluded fool that refuses to look any other way except your own. No wonder, true traders make a damn good living day to day, while you need a real job to support your "investing" practices.
To anyone who still continues to post praises for mr. supermarket, I strongly suggest you do a search on old threads involving mr.market. If you understand the markets, you will see how pathetic his method and his claims truly are.
I'm done, I was just trying to help out some of you who actually might be fooled into locking up your money in mrmarket's (or should I say IBD's) strategy. Feel really bad for that one guy who plans to take out a mortgage on his house to "invest" based on mrmarket's criteria.
Sad, I thought everyone already knew that mrmarket is one of the wacky characters of ET.
My track record is one of success....I am sharing my methods with others. I would offer that you be more openminded in order to recognize that there is more than one way to make money trading.