I'm out

[fibo_trader]

https://psychcentral.com/news/2008/02/15/herd-mentality-explained/1922.html



Since it only takes 5% of the Herd to set the direction the Herd will travel, I have an idea. ........

As soon as SPX takes out the December low, and the News media is petrified, of ET will be as usual cott on the wrong side, Long.

To break this atrocious habit and give the newbies here a chance to make some money we will apply the 5% principle to swing the entire ET herd about face and go Short.

Mind you, no Herd in history has ever accomplished something like this that breaks the entire evolutionary chain. But ET is as good a place or better than others.

Specific to ET I believe it might not even be necessary to invoke the 5% rule, we can rocket propel that RULE by just going 5 oldtimer traders here. Once these 5 cats make the announcement, voila, the entire Herd will follow.


Clubber Lang, OptionAttack, TheMickey, Vanzandt, bone

 

[themickey]

I already agree with you fibo.
The rot set in on Monday, that was the nail which determined the coffin is set for the grave. The undertakers don't move fast but SPX will soon be buried.
My wallet is shut on any further buying other than possibly gold but that is not guaranteed either, just more likely than unlikely.

 

[volpri]

Just before success, you want to give up.

 

[nooby_mcnoob]

View attachment 199762

Truly. The OP has been smart in that he has been doing things sustainably. The problem might just be that he needs to go back and think about the approach he's taking to the market. It's hard to beat the perma-bull, so trying to beat the market on SPY swing trades may be a fool's errand.

 

[vanzandt]

Some give up to early and (many) give up too late.

Man that's a great great line.

 

[fibo_trader]

I already agree with you fibo.
The rot set in on Monday, that was the nail which determined the coffin is set for the grave. The undertakers don't move fast but SPX will soon be buried.
My wallet is shut on any further buying other than possibly gold but that is not guaranteed either, just more likely than unlikely.

Excellent news Mick. e than once a day, it takes a lot to get a 39 x 62

I know you have your own methods but just for fun, put. a 39 x 62 ema on SPY or whatever you trade, then don't even bother to look at the daily more than once/day. Ride the whole trend out on automaticity. Trade your usual real time with separate funds.

 

[viruscore1]

What are your expectations. With all the trader hype, many are disappointed when they find out pros have a hard time beating indexes. And it's next to impossible to turn a few thousand into a hundreds of thousands in a couple of months. Especially with real money, consistently.
Although some do. Keep in mind Some people win the lottery also. If you fall into the later category. Buy lottery tickets instead, trading is not for you.

 

[hurricane_sh]

It's good for you. Trading is just so hard, I'm blowing up my 5th account, after a few years of trading, I seem to blow up accounts faster and faster. I gave up trading for 6 months last year, unfortunately I picked it up again.

Trading isn't really for everyone, I'm a person with zero patience and discipline, it's virtually impossible for me to make it work. I'm giving it one last try, at the end of this year, if I make it that far, either I have become a profitable trader, or I give up for good.

 

[syswizard]

Trading isn't really for everyone, I'm a person with zero patience and discipline,

Oh man this is a huge problem. Those are two of the most important attributes of a good trader.
You must improve on these or should not be trading.
Also, I recommend you get the book "Trade Mindfully" by Gary Dayton. It's a tough read but it has a lot of great tips and techniques to help in this area.

 

[viruscore1]

Do you have a mentor? Don't take on advisors or mentors that don't have serious money in the game. They are 'experts' with tiny accounts with no risk experience. Use them for trade mechanics not wealth building. The only wealth they receive is from charging traders like yourself.