IBM will put the dow over the top tomorrow...
- Thread starter ssternlight
- Start date
Quote from austinp:
<i>"Tomorrow will be a great day if you are currently long!!!"</i>
Hee hee hee... we'll see
Market bias is the death of all fledgling traders. Lose the urge to forecast & predict, you'll find that making money at this game becomes a WHOLE lot easier then
My prediction for tomorrow has no effect on the outcome of what my currently long portfolio will do tomorrow so how is that going to hurt me or make me a fledgling trader?
<b>"Tomorrow will be a great day if you are currently long!!!"</b>
The way that reads on its face, a trader holding open longs will have a great day. How is that possible? The only possible scenario I see is if the market goes up. Let's explore the other possibilites:
#1: Market goes down... way down. Long trader does not have a great day.
#2: Market goes down, long trader is fully hedged against loss. Trader does not have a great day... just a ho-hum, blaise` day
What other scenario for long traders having a great day (define "great"?) is there than prediction of higher market?
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All of these market prediction calls tend to teach newbies that market forecast is an important part of success in our profession. That is false, matter of fact, insistence on market prediction has killed far more traders in all financial markets than has ever enriched.
Tommorow will be a great day for traders on the correct side of price action, whatever may come our way :>)
The way that reads on its face, a trader holding open longs will have a great day. How is that possible? The only possible scenario I see is if the market goes up. Let's explore the other possibilites:
#1: Market goes down... way down. Long trader does not have a great day.
#2: Market goes down, long trader is fully hedged against loss. Trader does not have a great day... just a ho-hum, blaise` day
What other scenario for long traders having a great day (define "great"?) is there than prediction of higher market?
**
All of these market prediction calls tend to teach newbies that market forecast is an important part of success in our profession. That is false, matter of fact, insistence on market prediction has killed far more traders in all financial markets than has ever enriched.
Tommorow will be a great day for traders on the correct side of price action, whatever may come our way :>)
I am bored to death tonight... I think that's why all of us are in this very thread to begin with, would you agree? 
And, I hope longs get exactly what they hope for tomorrow. If that includes you, I wish the best and nothing less. As for me, whichever way the tape flows, potential profit exists in equal abundance
And, I hope longs get exactly what they hope for tomorrow. If that includes you, I wish the best and nothing less. As for me, whichever way the tape flows, potential profit exists in equal abundance
Consider yourself lucky being a dolphin fan. You could be in Houston where we passed on Reggie Bush and Vince Young to get a worthless defensive end.
I was ready to shoot our head coach when he mentioned after our slaughter at the hands of the cowboys that we are not going to get better until we develop a consistent running game. Well, we could have solved that with our first round draft pick. Instead I have to watch our first round defensive end get his ass kicked every week.
I was ready to shoot our head coach when he mentioned after our slaughter at the hands of the cowboys that we are not going to get better until we develop a consistent running game. Well, we could have solved that with our first round draft pick. Instead I have to watch our first round defensive end get his ass kicked every week.
