Aren't there always people "warning of the coming big bear market", all the way up through (and missing most of) the preceding bull market? I can't blame someone for not listening. Coffee's for closers™ (Sorry I couldn't resist. )
Right, except that I was up +200% with Biotech sector since 2010, so I was not a permabear. For a trader, your yesterday's love story is your tomorrow's nightmare in the markets if you are not flexible. Dont fall in love with your trades. CM
I am usually always bullish, even when I am short, I know markets usually go down much faster than going up, so just matter of time. Although it did take Copper over five years to finally go down far enough for me to consider buying. Being bullish is just optimistic to me, I want the economy to be booming. I am Bullish for stock market, but I am not getting out of short indexes, but have bought Calls.
LOL, kind of a compliment in there... So I had a topic asking about 2015 results. For me success in the market comes down to: Did someone make money? Did it beat the SP500 %? Did it beat opportunity cost ie dayjob in $? This journal is not likely to beat day job. It is beating SP500 I am making money. If I made a lot of money, I think it would be tougher to daytrade around a position and maintain similar % gains. What do I want to occur? Read the first post, it is really kind of simple... I rarely give advice. Nobody listens. I give cocky advice (similar to some here, I actually understand it) when my trading is going well, really demeaning too. Would I listen to advice? Ah, let's see, this is the internet...YES From someone that could be understood From someone that was successful in a clear way- not like some ocean report where direct questions don't get answered and where periodic reviews are tough to determine. From someone consistent over time.
I read posts that look interesting or if I have chatted with someone. I don't care if someone has "merit" or not, if their idea or if it sparked another idea within myself, I will back test it. I have often found errors in my back testing has founded the best nuances or tidbits to make me a better trader. So I don't care if someone has merit or not, and have often found good ideas from newer traders as they see the markets with much younger eyes. I try to assist those who have journals if they want them but I always learn by what they do or think up of ideas they maybe lacking, or they give me ideas of what they are doing. I think way too many members of this forum want others to give them stats, you don't know how it was tested, and if it was good-stats might be intentional given wrong, best way is learn to do it yourself. Even bad ideas that result negative, many see it as waste of time whereas I don't. Like needle in haystack, never know what you might actually find. Nursebee, am working on option system where I can only get in on close of last day of the week, LOL it is like watching sand in hourglass and Jeopardy song in forever.
Made a trade yesterday. Bought 2k at 0930 $5.1 B 1k 0947 5.01 B 1K 0948 4.96 I'm grateful I added down Held til close Sold near my average price about 5.05 profit $16.76 including transaction costs Broker wins! In general my thoughts were that the European markets closed strong, expected US to also. My additional buys were more that this stock was not as high percent wise as the overall market, expect it moves 2x what the market does, it had pulled in closer to 1x. I expected market to move higher, it did so, this remained constrained, though about 2x. I did not know FOMC minutes released yesterday, my bad. I'd have considered an earlier exit if it was FOMC meeting/statement/speech. At 1410 I wrote that Es were good, stock was slow. Took a walk as Es NH @1415, expecting price b/o. At 1444 wrote that "It's good"! I held. I worried more about things at 1500. By 1530 it was clear that price was hugging VWAP and no way I was really gonna make or lose money. Choosing best exit was priority. Click chart if you care, not much to see.
On another note, the profits generated thus far have substantially lowered the price of my core position via adding down. Despite the core purchases starting higher than this, my avg price is now $4.98, 1552 shares, $8045 in acct, DTBP 23K. I am happy with this.
Gut check: Range is tighter Volume lower I did well bouncing on bad days Bad days not so bad now. Perhaps Need to wait for strong volume up days Perhaps need to wait some time for good up days Perhaps it is whipsaw time?