Reiterate : buy the dip

Cocaine · Aug 7, 2007

Says the guy who constantly loses in NG (according to your thread from the other day).

Perhaps you should re-read what HG wrote and maybe it will sink in? Or go on believing whatever you want, makes no difference to me.

Quote from scriabinop23:

This statement should be abolished from ET... its the most meaningless BS I've seen.

When you put a trade in (whether with a stop or not), you are making a prediction.

Its one big f*ing contradiction.

scriabinop23 · Aug 7, 2007

Quote from HolyGrail:

I swear, some people just don't get it. Yes, I predict success with every trade I make. I don't say ES is going to 1500 in the next three sessions. I enter the trade and I analyze where I am bar by bar. No prediction whatsoever other than hitting the buy or sell button.

you're just predicting on a shorter time frame. sure its different than posting here and saying the market will crash or go to the sky, but only in a context of time frame.

I could make a post and -predict- the market will go down tommorow, and make a trade that is consistent with that view.

If you are making trades without making a prediction, then why not just randomly press buttons?

scriabinop23 · Aug 7, 2007

Quote from HolyGrail:

I don't "need" to be anything. I just know when you understand price action there is no need to predict. When you learn that you will see what I mean.

I've learned one thing...

...There is no Holygrail.

Steve Tvardek · Aug 7, 2007

Probably shouldnt jump in now, but I just feel very strongly about this. I agree with HG, to really understand price action is to not have to predict IMO.

Quote from HolyGrail:

I don't "need" to be anything. I just know when you understand price action there is no need to predict. When you learn that you will see what I mean.

scriabinop23 · Aug 7, 2007

Quote from Steve Tvardek:

Probably shouldnt jump in now, but I just feel very strongly about this. I agree with HG, to really understand price action is to not have to predict IMO.

I know there is an intuitive connection with -reacting- to price action. But arguing that somehow a decision made on price action is not a prediction borders on goofiness.

A decision is made on the premise of a optimistic forecast. And that forecast is a prediction. Whether you believe strongly in it or not is immaterial (since it may be part of your trading system, which takes all entries regardless of your emotional belief in its potential success); by placing that trade you are predicting that it as being a member of your system will contribute to your success. So thus you are predicting the trade will be right.

HolyGrail · Aug 7, 2007

OK, no need continuing. One day, maybe, you will see what others are saying here. Until then, good luck.

scriabinop23 · Aug 7, 2007

Quote from HolyGrail:

NO, I am not predicting. I am playing probablilities of price action based on past experiences. That is a reaction, not a prediction. Obviously I would not take the trade if I thought I would be unsuccessful, so yes, I am predicting a successful termination of the trade, but I am not predicting a number at which the trade will be terminated. I let the market tell me that.

i know you said you give up... but one last point:

you are predicting direction, not a price target. still a prediction.

HolyGrail · Aug 7, 2007

Quote from scriabinop23:

i know you said you give up... but one last point:

you are predicting direction, not a price target. still a prediction.

Yes, I already admitted that I am predicting direction in the quote you highlighted. I would not take a trade that I thought would be unsuccessful. I am not predicting where the trade will go other than direction. I am not predicting how long it will take. I am not predicting at what price I will terminate the trade.

piezoe · Aug 7, 2007

The selling in the past two weeks has been pure speculation on some lending stuff. No big deal at all. I can't find a singlke [sic]headline that indicates that something is wrong or something bad happened.

scriabinop23 · Aug 7, 2007

Quote from piezoe:

The selling in the past two weeks has been pure speculation on some lending stuff. No big deal at all. I can't find a singlke [sic]headline that indicates that something is wrong or something bad happened.

i have to admit, that is a legendary line.