the trend is up, market has bottomed.

Originally posted by Bono

A simple question would be : statiscally, what are the probabilities that the NDX would rebound tomorrow ? and if that happens does that make our friend a hero ??? now what if it hits a new low tomorrow ?

Lundy, face it now dear ! You have made a fool out of yourself already !
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Bono, give it up pal. You seem to be taking Lundys market calls way too personally. Very few of us trade like Lundy but so what? He laid what he's doing and why he thinks his trade will work. Right or Wrong it makes no difference.

All of your responses are negative and deriding. You achieve nothing, not even for yourself.
 
Mike,

No ! One of the reasons we're all here is learning ... so when someone goes out of track, you need to turn the alarm on, so that they don't crash against other innocents ...

The "ignore" thing and stuff he's doing, is my strongest proof that this guy has started to learn from his own mistakes ... I'm doing him a favor and I'm used to that kind of behavior ... I'm an instructor myself :)

It always starts by avoiding and refusing to listen to your critics ... but trust me on this one ... next time, our beloved ETs, won't be reading "100% sure" in here :)

Good Trading !
 
Originally posted by Mike777


Very few of us trade like Lundy but so what? He laid what he's doing and why he thinks his trade will work. Right or Wrong it makes no difference.
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I thought i'd bring up exactly how I manage risk with my long term trades.

Lets say I have 100k, if I want to buy here at the lows, I can invest in stocks, futures or options.

With stocks, I risk 100% and maybe more. With futures I could be risking 1000%or more.

Enter options. With options, I risk 100% but they are very leveraged. So, I can put on 10k instead of 100k. My only risk is that 10k. If I can make 1000% on my options, which isn't that hard to do. I've doubled my money 100k.

So that essentially means I can be wrong 9 times, and be right only 1... and I will break even. If i have a greater win to lose ratio than 1/9, I make a profit.

I don't consider this strategy very risky, because I do have a greater win/loss ratio than 1/9.
 
Naww, Greenspan just bought some SPUs during the slow part of the day to prevent the market from breaking through the support.

Cant have the Fed looking bad you know.
 
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