The Surf Report

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Quote from ZZZzzzzzzz:

Lose the "reasearch" and go back to basics surf.

Become a simple trader again, find yourself.

You are lost, and listening to the wrong people.

Seriously, think deeply on this. More is not always more.
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thank you, Z. yes, i have gotten a little off track.

surfer :) :)
 
ok, lesson learned--even with proper risk management, over-riding your system is STUPID. regardless of the supposed purity and quality of research followed. furthermore, analysis could be correct, yet the trade could still lose--analysis and trading are two seperate animals. with this said, the current neogann channel on the DJIA is 10497--10633. see attached chart.
 

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surfer, was it the entry that was wrong on the trade or the signal itself? from a fundamental point of view, things haven't changed for the better and with the dollar crashing down, have been getting worse.
 
Quote from causeiambetta:

surfer, was it the entry that was wrong on the trade or the signal itself? from a fundamental point of view, things haven't changed for the better and with the dollar crashing down, have been getting worse.
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the trade was wrong due to my reliance on "other" data and deviating from my system by not taking the loss. in addition, not taking next signals that would have placed me long added to my trading errors.

best,

surfer:)
 
we were stopped out twice this morning on channel line breaks, then at aprocx 1;30 est , the system caught a very nice wave down, we are currently short the DJIA from 10543--holding short here. the third time was the charm ! see chart of days action.

surfer
 

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having read several articles over the weekend concerning consumer debt and its consequences. namely, the young lady who is suing amex for allowing her to enter into a contract since she was mentally disturbed, triggered some thoughts---

it is my contention that, within 5 years, there will be a huge backlash against consumer debt. it may become "uncool" to charge anything and credit cards will become the last ditch tool of the poor. not sure if this will play out exactly like this, but the signs i see are heading this direction.

surfer
 
Quote from marketsurfer:

having read several articles over the weekend concerning consumer debt ... it is my contention that, within 5 years, there will be a huge backlash against consumer debt. it may become "uncool" to charge anything and credit cards will become the last ditch tool of the poor. not sure if this will play out exactly like this, but the signs i see are heading this direction.

surfer
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Tell me please... will this occur before or after the surge of people taking responsiblity for their actions?

:)
 
Quote from marketsurfer:

having read several articles over the weekend concerning consumer debt and its consequences. namely, the young lady who is suing amex for allowing her to enter into a contract since she was mentally disturbed, triggered some thoughts---

it is my contention that, within 5 years, there will be a huge backlash against consumer debt. it may become "uncool" to charge anything and credit cards will become the last ditch tool of the poor. not sure if this will play out exactly like this, but the signs i see are heading this direction.

surfer
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Nice thought, but I think we are moving to a cashless society. ATM cards have a Visa logo and no one can tell it from a credit card. It depends where you live but there are some cities in the US where the only reason to carry cash is to use a vending machine or pay a parking meter, where other cities (like Chicago) you still run into places all the time that only take cash. In Scandinavia everyone uses their cell phone to access their bank account to pay for everything (including vending machines). That's where we are headed.

Cheers,

TRADERguy
 
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