i literally saw millions evaporate doing this day in and day out ( all the traders in my office )...it was soo entrenched in our mentality to buy the dip that it literally took millions of dollars to say hey..it might be time to get out of dodge...but then again thats how the millions were made in the first place...buying them dips...i know longshot remembers the days when stocks would be down 30 points to only be up 40 EOD....and the likes of QCOM printing 100 point days...sheesh
Now is the time 2 buy
- Thread starter stock_trad3r
- Start date
i literally saw millions evaporate doing this day in and day out ( all the traders in my office )...it was soo entrenched in our mentality to buy the dip that it literally took millions of dollars to say hey..it might be time to get out of dodge...but then again thats how the millions were made in the first place...buying them dips...i know longshot remembers the days when stocks would be down 30 points to only be up 40 EOD....and the likes of QCOM printing 100 point days...sheesh
In the long term buying dips has worked.
Yes there is a risk the stock market may crash, but there is a risk I'll be abducted by aliens to help them pick stocks in distant galaxy and no longer be able to post here.
LOL your right in that dip buying doesn't always work..people bought the Lucent dip at $60...and sold at $6 months later.
But the stocks I buy aren't bubbles and the overall market isn't overextended as it was in 2000.
Quote from stock_trad3r:
In the long term buying dips has worked.
Yes there is a risk the stock market may crash, but there is a risk I'll be abducted by aliens to help them pick stocks in distant galaxy and no longer be able to post here.
LOL your right in that dip buying doesn't always work..people bought the Lucent dip at $60...and sold at $6 months later.
But the stocks I buy aren't bubbles and the overall market isn't overextended as it was in 2000.
The number of stock market crashes is much, much higher than the number of aliens who have abducted humans.
Then again, any number is bigger than zero. But alien abductions? That topic seems not germane to a board on trading.
But I digress.
Buying dips usually works in a bull market and an extremely oversold bear market.
And, yes, the market has a two centuries long upward bias, providing that one is patient enough sometimes to wait years, even decades, to break even.
The main problem with buy and hold--which appears to be your approach--is the massive drawdown. From peak to trough, the Nasdaq lost 80%. That is unacceptable to traders. We want--we need--to make money every year.
Those who come to Elitetrader--professionals and retail traders alike--believe that there is money to be made in bull markets, bear markets, and directionless markets. We'll ride Google on the way up, being mindful the whole time that once a rally fails, the ride may be over. Many of us have ridden the market up since 2003, but we know that all good things must come to an end. We are ready.
Are you? I doubt it.
For those who uncritically accept the buy-and-hold mentality would think the ride would still be running, whereas traders would already be off the ride, looking for another.
Traders generally have little patience for sloganeering, for permabulls/permabears, and for one-way thinking.
Some of us made money on the way up in the late 90's and on the way down in the early years of this century.
Buy when the bear, or simply "a" bear, comes, you seemingly will be helpless, denying that it even exists, buying dip and after dip, until you sell.
Can't say no one warned you.
Now, exactly how do you know this? Is there something you are not telling us?
I honestly think most of these IDs are all one person trying to get attention, they are not actually professional (or even semi-professional) traders.
In reality, they are either some deranged adults who are amused by harassing hardworking traders/investors or are some teenage high school kids who have nothing better to do with their time and this is their version of entertainment.
Its amazing how stock forums such as these attract such individuals. I might add, most of these individuals like Makloda or Stocktrader do not actually trade the markets and I wonder how they even make an income at all. Think about it. All day long these guys post up nothing but garbage and make no real calls. Where is their research? Where is their journal? These guys are some teenagers sitting at home having fun. They dont actually have an income or a real job.
As for myself, I work a job and get in my trading at the same time. Its a tough act to juggle and most of us are probably in the same scenario here of working hard at one thing while trying to juggle this other thing. Its such an insult to come to this forum to be harassed by these persons who have nothing better to do with their time.
There is no use in complaining as Baron does not do anything about these people. In fact, he doesnt even do anything about the people in the politics and religion section who are obviously racist and hate mongers. The only reason why they post to this site is so that their anti-semetic material will show up on Google searches.
The only thing we can do is put these characters on ignore. Unfortunately, their hate mongering language will still liter our threads for all to see. While we may post up our research and opinions on the markets which might take hours to do, these characters bring down the entire thread with their hooliganism.
I have complained about stocktrader and his many aliases and no action has been taken.
From now on I will put these characters on ignore. Unfortunately, their hate mongering will still exist in the threads for all to see. Its quite disappointing to think that your thread will be litered with these rants from stocktrader.
So I ask Baron, please kindly clean up your website. This isnt a public website governed by free speech laws, but one that is privately owned and one in which you can make cold hard decisions. You got rid of the Bluestreak ids that invaded the site last summer, but it appears there are still a few left to sweep up like stocktrader.
If you posted a poll, I believe the majority would want you to be more pro-active in sweeping the site up from these hooligans.
In reality, they are either some deranged adults who are amused by harassing hardworking traders/investors or are some teenage high school kids who have nothing better to do with their time and this is their version of entertainment.
Its amazing how stock forums such as these attract such individuals. I might add, most of these individuals like Makloda or Stocktrader do not actually trade the markets and I wonder how they even make an income at all. Think about it. All day long these guys post up nothing but garbage and make no real calls. Where is their research? Where is their journal? These guys are some teenagers sitting at home having fun. They dont actually have an income or a real job.
As for myself, I work a job and get in my trading at the same time. Its a tough act to juggle and most of us are probably in the same scenario here of working hard at one thing while trying to juggle this other thing. Its such an insult to come to this forum to be harassed by these persons who have nothing better to do with their time.
There is no use in complaining as Baron does not do anything about these people. In fact, he doesnt even do anything about the people in the politics and religion section who are obviously racist and hate mongers. The only reason why they post to this site is so that their anti-semetic material will show up on Google searches.
The only thing we can do is put these characters on ignore. Unfortunately, their hate mongering language will still liter our threads for all to see. While we may post up our research and opinions on the markets which might take hours to do, these characters bring down the entire thread with their hooliganism.
I have complained about stocktrader and his many aliases and no action has been taken.
From now on I will put these characters on ignore. Unfortunately, their hate mongering will still exist in the threads for all to see. Its quite disappointing to think that your thread will be litered with these rants from stocktrader.
So I ask Baron, please kindly clean up your website. This isnt a public website governed by free speech laws, but one that is privately owned and one in which you can make cold hard decisions. You got rid of the Bluestreak ids that invaded the site last summer, but it appears there are still a few left to sweep up like stocktrader.
If you posted a poll, I believe the majority would want you to be more pro-active in sweeping the site up from these hooligans.