I just don't understand why...

Quote from infooo:

you are being too general, OP was quite clear

and I am surprised that you would make a comment like that considering how long you are on ET

are you sure you know how to trade ??
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Fair enough. I was responding to the OP generally, but also to the many posters on ET who take issue with a trade soley on the basis of top picking, alone a suprious reason for questioning a trade. As far as having an opinion and being married to it, I would agree that is not helpful. Ironically, I notice far more of that from the perma bulls than the "top pickers".

There is no correlation between length of time on ET and trading ability based on the posts of people who have been registered since 2000-1. Some have been posting drivel in the chat section for years longer than I have been registered on ET and I doubt they have placed a trade in their life.

Perhaps I am the exception that proves the rule in that regard, or perhaps I am just lucky :D
 
Quote from feb2865:

well think about this

somebody has to be at the other side of the trade rigth??

so let them come to us.....

a guy said somewhere that he was shorting the dow today

I guess some of that money is in my pocket now

seriously, the market feeds from traders like this...if you think about it is the reality of the markets

this is a zero sum game.

I know a trader who shorted cable around 1.87 something on 10/26/2006

he's still short on cable "hoping" that will come his way

well look at cable now...2 bucks

He said that cable will come down because is "oversold"

wel...keep hoping....his money is long gone already

just imagine how many people outhere "predicting" and anticipating or betting on a number


As you say...go with the flow

see, trading for me is support and resistance. I could never make an indicator to work. I simply can't deal with them.

I trade the market. As simple as wait how the market is going to behave on these levels...three things are going to happen

1) Market will brake the level( need comfirmation for this one and don't place your stops too close to the guns)

2) Market will make a coil on the level, before taking any direction, if any

3) Market will bounce off the level

for whatever the market do, I will dance accordingly

Once on a trade....three things will happen

1)Market will make a coil (I hate it, test my patience but had no choice but to wait )

2) Market will reverse my position (I get out quick and save my ass so I can have more chance of re-entry, if possible...or trading the next day after all the market isn't going anywhere)

3) Market will go my way(mmmm love it)

Here it is

my strategy revealed

never backtested by the way

unless support and resistance goes out of style...if that happens then I quit...promise(Virgin, where are you???I made a promise)

well, in so many years.....hasn't happened yet

who knows

the market can do whatever, is how you're going to react what matters

but, if you're going to "wait" and "hold" while the market is screweing you..mmm good luck. Keep on waiting
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Nice... except you're wrong :p . This is definitely not a zero-sum game, perhaps more clearly illustrated to you by the fact that around 2 trillion dollars were created last year, which means that for all the money you lost, someone else won it all plus some! :)
 
Good thoughts....

I wasn't saying that you cannot perform analysis and then trade that, but I'm often amused by the amount of very bullish or very bearish predictions. Saying something like dow down 150 pts tomorrow is not the same as performing real-time daytrading. Assuming we are all traders here, I believe a trader cannot and should not come into a trading day with any strong bias. The job of a trader is to simply exploit the supply and demand, correct? If so, the job then is to jump in where opportunities exist and jump out where you see fit.

Simply saying the Dow will be down tomorrow is a 50/50 coin toss. No one knows what will happen tomorrow. So why bother going into the day with that bias? If you were looking to short all day today, I'm sure your account reflects that. If you just simply took advantage of the many trading opp's today, hopefully your account reflects that.

It's just amusing to see the posts come out when there's some volatility present.
 
Quote from stock_trad3r:
Not everyone daytrades. If you don't daytrade determining if the markets are in a bullish are bearish trend are important.
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I'm not debating that at all stock. What I am debating is - why bother posting Dow Down 150 pts tomorrow. No trend analysis is going to predict that w/ any reliability. Even a blind squirrel finds a nut.
 
Quote from Mvic:

Last time I checked, other than selling time, your only options were to go long or short an instrument. If that doesn't require picking a direction in some time frame and some instrument then you must know something I don't.

Don't you guys realize that statistically speaking someone picking an intermediate top on a weekly or monthly timeframe is no different than someone who thinks the trend will contnue. You can argue about the technical or fundamental merits of a call but just bashing someone for taking a short position at any given time doesn't make a lot of sense.
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Not bashing any long or short positions.

The point isn't that picking tops and bottoms, etc, isn't a way to trade, it's that posting sensationalist garbage about tomorrow's direction is meangingless and just makes the poster look foolish. If you added up the combined P/L's of these types of posters, you would see a horrific pattern of losing. Guaranteed.

The good thing is these posts are great indicators. Take the opposite side.
 
Quote from TrueStory:

Not bashing any long or short positions.

The point isn't that picking tops and bottoms, etc, isn't a way to trade, it's that posting sensationalist garbage about tomorrow's direction is meangingless and just makes the poster look foolish. If you added up the combined P/L's of these types of posters, you would see a horrific pattern of losing. Guaranteed.

The good thing is these posts are great indicators. Take the opposite side.
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Making the worst system is as good as making the best...
Use the worst to do the opposite...
LOL...
So the worst trader is really the best but in the other direction
 
Quote from TrueStory:

Not bashing any long or short positions.

The point isn't that picking tops and bottoms, etc, isn't a way to trade, it's that posting sensationalist garbage about tomorrow's direction is meangingless and just makes the poster look foolish. If you added up the combined P/L's of these types of posters, you would see a horrific pattern of losing. Guaranteed.

The good thing is these posts are great indicators. Take the opposite side.
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Agree 100%.
 
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