The sell-off explained
- Thread starter Frederick Foresight
- Start date
This appears to be a vanity thread. I don't agree at all with the analysis.
Steve Wynn resigned. WYNN? Win? WIN! WIN! WIN!
(Yup, I'm short)
(Yup, I'm short)
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Those who know business and trading and chart reading, markets have wiped away 3-4 trillion dollars from smaller investors/inexperienced traders/those who believe history does not repeat/those who trade on the edge. Which is good for larger funds and traders, and knowledgeable investors, brokerages will be keep selling stocks at lower prices and adjusted PE's to be bought again, and chart readers know this is the Left Shoulder of H&S's and might take few years before the Head gets made.
In couple weeks market be making new highs with many filing bankruptcy as they played the game and didn't learn first of all the nasty's that will happen if ill prepared. Many of us will be playing the game like nothing happened cept for the extra change in our accounts. Take heed, this will happen again one day and be a little deeper, and slowly grind up back till 99% all patting themselves on back for hanging on, and others be buying all the Puts the Bulls be selling... I luv the game....And enjoying the ride...
In couple weeks market be making new highs with many filing bankruptcy as they played the game and didn't learn first of all the nasty's that will happen if ill prepared. Many of us will be playing the game like nothing happened cept for the extra change in our accounts. Take heed, this will happen again one day and be a little deeper, and slowly grind up back till 99% all patting themselves on back for hanging on, and others be buying all the Puts the Bulls be selling... I luv the game....And enjoying the ride...
I wasn't trading during the crash, but it's very nice to know that my system would have had me being short and not trying to go long. 3 months of gains wiped out in just 1 hour. I wonder how many swing traders got wiped out during the crash? It seem a lot of them don't seem to understand that daytraders can do the same thing that swing trading do. But not the other way around.
"It seems a lot of them don't seem to understand that daytraders can do the same thing that swing trading do. But not the other way around."
First of all if your swing trading long/short 20+ futures instruments like most of us are you need at least $50k and will need a lot of grit to endure the 23 hours these markets move not to mention some serious $ mgmt skills. A lot of day traders lack the capital to swing trade, hence the reason they day trade.
Most swing traders emerged from day trading, a good swing trader first has to be a somewhat decent inter-day trader to get a profitable position before holding overnight & beyond. Than there are hybrid traders out there that primarily swing trade yet will at time do some day/night trades - depending on the market conditions, I fit into that category.
The market conditions have been prime for swing trading - the only conditions adverse for us to make profits are prolonged sideways markets. I know a bunch of swing traders - all of which are having an incredible quarter & that includes me.
First of all if your swing trading long/short 20+ futures instruments like most of us are you need at least $50k and will need a lot of grit to endure the 23 hours these markets move not to mention some serious $ mgmt skills. A lot of day traders lack the capital to swing trade, hence the reason they day trade.
Most swing traders emerged from day trading, a good swing trader first has to be a somewhat decent inter-day trader to get a profitable position before holding overnight & beyond. Than there are hybrid traders out there that primarily swing trade yet will at time do some day/night trades - depending on the market conditions, I fit into that category.
The market conditions have been prime for swing trading - the only conditions adverse for us to make profits are prolonged sideways markets. I know a bunch of swing traders - all of which are having an incredible quarter & that includes me.
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I am in agreement.
The other side is a lot of daytraders seem to have a myopic view of market fundamentals and don't seem to have the ability to predict. Hence their dependence on patterns.
Daytrading is good at training you to be good with accuracy and timing. You can make consistent profits every day. But it's limitation is scalability. Swing trading is where the bigger profit potential is.
Which is why I am in agreement with you that a dual hybrid system is the best.
The other side is a lot of daytraders seem to have a myopic view of market fundamentals and don't seem to have the ability to predict. Hence their dependence on patterns.
Daytrading is good at training you to be good with accuracy and timing. You can make consistent profits every day. But it's limitation is scalability. Swing trading is where the bigger profit potential is.
Which is why I am in agreement with you that a dual hybrid system is the best.