Surf Report

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southall said:
75% conviction! Are you planning to short at some stage then?
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I do not hold positions and only trade the first 1.5 to 2 hrs of the day, when I do trade :)

Everyday, I start off with 2 possible trades, a long and a short with stop loss and profit target amounts automatically worked out - as the entry is the KEY I leave that to my own judgement when the market opens, not based on wishey washey analysis.

I may do some trades during the last 1 to 1.5 hr of the day, but it all depends how I feel after my dinner, as I usually eat late and sometimes get a bit lazy after a nice meal.

So, to answer your question, I can and do short any day, it all depends on what happens after the open and how my charts look, as, believe it or not, the charts do not lie, especially for short term trading.

As for the YM shorts, well, let's just say that I think David is not that silly, as his resume shows that he has adequate experience to know what, and what not, to do in the markets. David, may however, have alternative reasons for what he does, but that is entirely his own "business" :)
 
Mtrader said:
I never said that they had no information. A trader that trades without information is by definition an idiot.
People who go long or short have a reason for that.So your remarks doesn't make sense for traders. But some like to anticipate while others wait for confirmation.
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Maybe you missed the part where the basis for their decision to go long or short was because it was making a new all-time high...

Anyway, it wasn't directed at you so no need for the defense.
 
marketsurfer said:
False. Everytime you enter a directional trade, you are "calling" or "forecasting" or "predicting: the market. otherwise you would never enter the trade.

The removal from reality is profound with the pure PA/ TA battalion.

surf
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Calling a future price level is not the same as having a target level worked out based on historical statistics, or, in simple terms, the "averages".

If you base your targets on wishey washey analysis, such as Fibs, Gann, Elliot, and any other idiotic take on market analysis, then one should not expect to achieve any real long term success in the markets.

It is very easy to confuse skill with luck, and this confusion has cost many a great deal of money, and will continue to do so.

I will say one more thing in your favor, and that is, if someone really wants to learn anything of value from an "experienced" trader, the first thing the experienced trader should show is his/her losses, and, as you are doing that, well, one can only assume that you are an "experienced" trader.

How good you are, is another thing, and when you start to show your winners it is very easy tot up the only figure that really matters!

For now, the jury is still out :)
 
lovethetrade said:
because it was making a new all-time high...
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On the 1 minute chart we made today already several new alltime highs.
What's in a name.
A REAL new alltime high should be made on daily or even weekly charts, and there is no sign of that at this moment.

PS: I don't want to defend myself. Everybody is free to have his own opinion. Just pointing out what I think is wrong in their strategy.
 
Mtrader said:
Unfortunatelly it was, more or less. And I know a second one with the same problem but in Forex. Australian dollars trading.
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How to does anyone recover from that, life must be constantly miserable after that.
 
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