You never answered my question. What's so bad about going short 1-2% off the all time highs?
tomorrow we go down some more
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You never answered my question. What's so bad about going short 1-2% off the all time highs?
Quote from SiSePuede!:
You never answered my question. What's so bad about going short 1-2% off the all time highs?
Ummm, maybe because there is no rational reason to do so? I hadnt seen a single good rationale for anyone going short the next day after a drop like that, which often puts things into oversold territory. Its usually better to go long after a sell off like that, but not always.
Rational? Are you one of those guys who tries to buy a dead cat bouncing and not short the second fall? What's your analysis that leads you to think it's wise to buy after a drop? Or do you think that that's rational?
Quote from SiSePuede!:
Rational? Are you one of those guys who tries to buy a dead cat bouncing and not short the second fall? What's your analysis that leads you to think it's wise to buy after a drop? Or do you think that that's rational?
Ooooooh, lets say about 2 billion backtests, is my rationale.
I said today would be an up day. You could have bought at the open, sold at the close and made good money. I didnt make an predictions beyond that. I have no issues with shorting the 2nd fall, but were not there yet and it wasnt likely to happen today.
Going long today was a good bet, especially after the early morning shakeout to fry the shorts.
Show me a guy with absolute conviction in a trade, and ill show you a guy who is not a trader.
This is all about probabilities, not conviction. Today favored the longs by a decent margin, but its still pretty easy to be wrong even if you know you have a 60% probability of being right, which still leaves 40% to be wrong. Thats a lot to leave.
Conviction, is for idiots who dont know how to trade. Any trade can go wrong.
2 billion backtests? That sounds like a load of shit.
What is it with you guys always thinking that everything is about frying shorts? You idiots sound as stupid as the guys who think there's some magic team that pumps money into the markets every day to move it how they want. Do you think the only ones selling are shorts?!!? Did your 2 billion backtest tell you that?
And so if you went long this morning having conviction would have been stupid? Okay...windbag, thanks.
Quote from SiSePuede!:
2 billion backtests? That sounds like a load of shit.
What is it with you guys always thinking that everything is about frying shorts? You idiots sound as stupid as the guys who think there's some magic team that pumps money into the markets every day to move it how they want. Do you think the only ones selling are shorts?!!? Did your 2 billion backtest tell you that?
And so if you went long this morning having conviction would have been stupid? Okay...windbag, thanks.
Yeah, wow, that's a lot of variables! 2,000,000,000 backtests, whew! You mean like testing the 13,436/21,876 EMA crossover?
