Oil just made intermediate term TOP at around 145 and change
- Thread starter Port1385
- Start date
------> if most traders failing @ trading because of what you are suggesting "they are shorting tops" ----> then wouldn't it make sense to conclude the if they starting buying tops and selling bottoms then most traders will win??? (of course less slippage & comission)
-----> however if you apply that strategy you'll soon find out that there's no edge to that whatever, so therefore you can conclude that selling "tops" is just as good as buying them
----> just goes to show you why you shouldn't listen to everything (more like anything) the "trading peanut galary" says.
----> another one of my favorite of the peanut galary is that they believe that using stops are the KEY in profitable trading
I'm not sure what's your point of your cryptic comment but consider this.
When indices are in a bull run buying pullback works.
When indices are in a bear run shorting retracements works.
When gold was uptrending, same.
Corn, same.
Oil, same.
When the trend changes, and make sure you got solid rules for what a trend change really is swallow your loss and wait for the next strategic entry.
Wow, how simple.
Susana
When indices are in a bull run buying pullback works.
When indices are in a bear run shorting retracements works.
When gold was uptrending, same.
Corn, same.
Oil, same.
When the trend changes, and make sure you got solid rules for what a trend change really is swallow your loss and wait for the next strategic entry.
Wow, how simple.
Susana
Quote from Landis82:
Try looking in the mirror my friend.
It is you that is the arrogant and totally clueless one.
Never have I been a partner at a sub-LLC or had even the slightest managing interest with any sub-LLC (or LLC for that matter) that has been even remotely associated with day-trading. Your claims are completely baseless and are about as unsubstantiated as the OP's top-picking claim based on absolutely nothing.
All this from a 19-year old "kid" that was whining like a "baby" who had his pacifier taken away when his prop shop in NYC failed to tell him that they were closing their doors for a Friday, without notice and he had commuted into the city for nothing. - - - Guess you didn't get the memo, eh?
http://www.elitetrader.com/vb/showt...7243&perpage=6&highlight=genesis&pagenumber=1
Congratulations.
You just won the "ET Fool of The Day" award.
Wow, what an idiot I must be... trading successfully at 19... oh my... and, when my $500+/day income stream was cut off for a day, I did get a little agitated... again, what an idiot I am... man I'd hate to be me.
Reading through your post history it's obvious your purpose on elite is as much commercial as it is social.
Good luck staying long oil. Hopefully it becomes extremely parabolic and you can make money.
Relax relax. This mighty puppy is just about spent. How many times as a trader have you seen this type of formation where price just keeps lifting to higher trend lines finally to come to stunning conclusion. There are no more buyers left for the oil barrel so it must reverse, it has to reverse.
Target price is 85 bucks and Im very short.
Target price is 85 bucks and Im very short.