In some sense every profitable trader is making a prediction because the simple act of buying something suggests you're predicting that you will be able to sell it at a higher price. In that sense, we all make predictions but there's so much to be said about making money and being wrong. At the close of each day I try to get a sense for how the market will behave tomorrow based on today's action and right now I'm feeling a bit bullish but what if BAC says no thanks to LEH and the Fed and Co. say goodbye LEH, we tried? All hell will break loose and all of a sudden my bullish feeling will vanish and "trade what happens" will kick in. At the end of the day the best I can do is draw a few lines and wait and see which ones get hit. It really doesn't matter. Good trading to all and good night.
Quote from Decel:
Oh, I fully agree. I mean, he talked about making 2k, on such a move? I made half his money and I barely scalped the opening.
And my timing is off all the time. Need to work on that.
Well I take "predicting" in the wide sense. If you expect/read/analyze a potential move before it happens, you're predicting.
Making money is about being right on your trade.
Hey I'm a counter-trender myself, simply because I can't differentiate a pullback from a reversal in the intraday timescale.
"True knowledge is knowledge about one's own ignorance" and I'm a fervent disciple of that.
its halerious.