Market finish UP or Down tonight?

[Cocaine]

You dont understand daytrading. You think you do, but your posts reveal a black hole of ignorance.

Quote from Batman28:

ofcourse not all the time but better than others.. they exist and some of them are very humble indeed.

 

[MrDODGE]

Dang the attempted rally back to daily highs was just blown.

 

[Batman28]

Quote from Cocaine:

You dont understand daytrading. You think you do, but your posts reveal a black hole of ignorance.

what u on about? who's talkin about day trading here? im not and not interested.. just checkin people views on the day's outcome given the homes news out today and rates expectations..

 

[Cocaine]

Hey pal, you are the one that grouped all traders together and said that all the good and great ones have positions on beforehand and I'm telling you thats NOT THE CASE. Some do and some trade the action of the day. You are the one painting broad strokes here, I'm just telling you you are wrong as far as daytraders go and daytraders on this board are probably the majority.

Quote from Batman28:

bullshit.

good traders don't sit there waiting to follow the market..

great traders have already put on their position game for today and waitin to see the outcome..

i didnt start a guessin thread either. i wanted ur calls and see how group thinkin accruately reflects market.. it's a small sample but why not.

 

[Batman28]

Quote from Cocaine:

Hey pal, you are the one that grouped all traders together and said that all the good and great ones have positions on beforehand and I'm telling you thats NOT THE CASE. Some do and some trade the action of the day. You are the one painting broad strokes here, I'm just telling you you are wrong as far as daytraders go and daytraders on this board are probably the majority.

fair enough.. but u have to imagine the day trader who's at best waiting for a reaction and the funds who are obliged to move position in the market accordin to their market philosophy not how market might shape in the next 20min.. and the other funds who can afford to call a bluff any second..


btw Cocaine, I know of a hedge fund manager that actually arbitrages between day tradres and longer term players.. i never understood it but apprently Jim simmons at renaissance tech uses the same tricks in one of his funds.. maybe u can find out about it

 

[Bogan7]

Quote from Batman28:

bullshit.

good traders don't sit there waiting to follow the market..

great traders have already put on their position game for today and waitin to see the outcome..

i didnt start a guessin thread either. i wanted ur calls and see how group thinkin accruately reflects market.. it's a small sample but why not.

Thats not really true hedge fund guys I have traded with had a number of different trading strats where they woulhave on large core directional postions and they would day trade.

The main prob of trying to predict the market is stems from the fact once you develop your bias you BECOME biased and can tend to both miss trades that the market is offering you because they are against your view and refuse to take a loss because you market doesnt agree with you.

Its amazing how clear your thinking is when you simply react to the market instead of trying to predict it.