Quote from luckyluciano:
Wow that's Scary! "If you've got the cash to back it up and the balls to sit out the ride!"
Wouldn't it be smarter to use that cash to actually make money somewhere else rather than wait it out all the while it keeps going higher and against you. How do you know for sure that it will even come down to your entry price...it could double on you for gods sake. Who cares what you & I think trade what you see not what you hope for or think.
Read Market Wizards....go with the winners not againstl them.
My guess is if you have the cash now...the rest of us will take it away from you soon. Sorry!
You are basing your prediction based on what you read in Market Wizards? How do you know its going to keep going higher and higher?
Its probably not THE top, because there is only 1 long term top, and odds of catching it are small, but that's not the point. If you short here and hold it for a year or 2 years, I am saying that you will not be disappointed with the results, between then and now, it could go higher, but proper allocation will actually set you up better with a higher price, because as I stated in the first post, the point of scaling in entries is because it can allow a trader to actually root for his position to going against him so he can put on more size at a better price.