If someone is trading a system they call trend trading profitably, does it matter? I know a guy that was trained by one of the guys in the Market Wizards book. They both define the system as trend trading. The guy I know made a shit ton of money. He ended up running a sizable fund and sold it. Now he owns an investment bank. I personally know another guy who trend trades. He defines his system as trend trading. He has made all of his money from trading. He lives in a $20m house on the beach. So you can argue all day if there are trends or not however you define them. Those two guys don't care if you think there are trends or not.
Fridays' high on the NYMEX WTI March contract was 48.35. We've just traded 80 cents above it at 49.15. $1,800/contract. The reaction in this area would tell me whether it is worth to establish a short. Perhaps Joe would update us on how he is managing his position. Kudos to anyone who is prepared to post a trade and put themselves out there. And show losses as well as winners.
Numbers are great but when you deal with the market know that you must follow. Trade what you see not what you think the market should do. Just because you are dealing with the market predicting the future with any certainty is in my opinion no more reliable than believing the local fortune teller. In my opinion the most important thing you can do is to get out right. Just the opposite of that common shared activity practiced by two or more humans.That should cover all interacting possibilities.
Geez, people. While you are "starin' at the lint in your belly buttons" here is how I am continuously predicting trend based upon Order Flow Analysis in Forex. No offense, but we're here to make money, Traders Edit: (I removed comments which might be insulting, concerning the low quality of some discussions in this great forum.) Chart shows Forex GBP/JPY price divided by 100. i.e. 176 shown as 1.76 vector analytics done in real time, "leading indicator" not some stupid moving average of what's already happened "in the rearview mirror"... HyperScalper
You do realize that some of us who have been here a while have done most of our posting before there were "likes" on this board. Even a person of the meanest intelligence would recognize this.
And number of likes has little bearing on quality of posts. I should know! OddTrader one of the nice guys on ET.
Everyone wants to be "LIKED" LOL Yes, we should all strive for high quality respectful posts and contributions, and these are not necessarily liked... I remind myself this is "Elite Trader" so posts should be for the "elite" and professional traders. HyperScalper
If it's going up. It's trending. If it's going down. It's trending. If it's doing neither.It's trending. From a non elite non professional.