Surf's Special Situation Journal

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Quote from marketsurfer:

I agree the fast buck noobs are attracted to trading, but, computers can read the DOM with no mistakes------ why do it the old fashion way full of peril ?

I contend that business is nothing like trading. Having run several businesses and traded for years, I think I can safely say there is no correlation between the two. Think of the folks who spend years trying to make Gann work-- no matter how much time they put into it, the premise is fatally flawed. I look at chart readers the same way, mostly smart, well intentioned people, but their premise is fatally flawed. If your premise is flawed, you cant' get the method to work.

The insidious fact of the market is no matter what method you use, you will WIN at times. These wins reinforce your false beliefs. This is why only quantified and tested methods should be used. The brain is simply too easily fooled by randomness.

surf
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Here I agree with you. Trading is much more a craft than a business. And I can give you a hint why "Gann folks" fail. Because they are stuck in the box of thinking just in Gann terms. While ideally I would advice every newbie to never read ANY trading books/courses beyond the very basic principles and just WATCH with OPEN eyes. They won't become biased this way and see the truth faster. :)

I am very, I mean VERY thankful that people who helped me in trading have never explained every detail, but gave overall guidelines only. Makes your own eyes and brains work actively, not passively.
 
Quote from volente_00:

I agree.
But I still follow the thinking that 500 companies represents the bigger picture better than just 30.
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No question about it, but 30 companies are easier to track the Price Drivers on each, particularly due to the weighted nature of the DJIA. surf
 
Quote from volente_00:

I'm just messing with ya. Where is your stop on ym ?
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I only use stops with the initial entry-- right or wrong--- after solid profits I revert to the Price Drivers to change prior to closing out---

surf
 
Quote from marketsurfer:

I like this CJES on a break out play above $23--- target 33

http://tinyurl.com/b2d2hbr
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"Technically, shares have been uptrending since Nov. 15, 2012, but have hit resistance in the mid $22 range. There is a massive double-top formation at this level on the daily chart. This creates a daily breakout close opportunity. Entering a long trade when price closes above $23 makes technical sense."

You wrote that right?
 
HLF down 3% on a strong market day ?
Wow, that recent price rally action truly was a dead-cat bounce !!

Looks like this time around, there won't be a bounce....this cat already had it's nineth live.
 
Quote from marketsurfer:

Trading is unlike and not comparable to any profession, except maybe professional gambling.
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No "maybe" about it, Surf. Trading professionally is not merely like professional gambling. It is professional gambling.
 
Quote from syswizard:

HLF down 3% on a strong market day ?
Wow, that recent price rally action truly was a dead-cat bounce !!

Looks like this time around, there won't be a bounce....this cat already had it's nineth live.
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Fingers crossed!
 
Quote from cygnetnoir:

No "maybe" about it, Surf. Trading professionally is not merely like professional gambling. It is professional gambling.
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Even with information to distinguish ones self from noise traders, that's a very good point. No argument here.
 
Quote from marketsurfer:

Even with information to distinguish ones self from noise traders, that's a very good point. No argument here.
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There is no such thing as noise. Just different scale of the moves. And I agree all trading is professional gambling (game of odds).
 
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