ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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GREAT OSORICO!
WE NEED MORE GUYS LIKE THESE... It's hard to determine at times what members are actually saying...
Some would say, volume looks like it's going down... but what's important is that if this member is clearly convinced and confident enough to put his prediction on the line.
I think it's great that you're being clear on your prediction. From those that a learning, it's really hard to determine what direction the believe the market is going. Don't get me wrong, it's okay to make remarks and such by pointing out the obvious, but from reading a lot of post... a lot of times it's hard to figure out which is the leading indicator out of all the observations a member exposed. I think if a member hesitates to state a clear prediction, this shows weakness his overall conviction.
I have a friend who is being sucked into paying thousands of dollars to learn how to trade. I know it's obviously a scam. He's been in the classes for a while and his track record is still roughly 50/50. He swears that the instructors know what they're talking about. I asked him if the instructor keeps a track record of his trades and he says, "no" but they tell you extensively how your trade went wrong...in other words, it's "after the fact".
This is why i'd like to encourage more members to put their reputation on the line and clearly state which way they think it's heading. There really are only 3 choices, up, down, or sideways. And yes, it can work if you intra trade or swing trade. This way, it's easier to distingush those that really know their stuff and not just adding to the noise.
Pathetic ain't the word for it!! Twas a very good countermove call anyway
... And the action stands to reason. Tis the low-end of the debacle gap. FWIW; you can hear the cogs grinding. This goose (and YM in particular) is gonna fail hard, before eod, imo. 577 (YM) area has proved an excellent zone to play this chop, until...
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