Registered: Mar 2010
01-16-12 04:06 PM
I do. plus I am a foolish short seller too.
particularly when I get a loser, i want to make sure next trade is a winner, so i jump on the exact top (thought to be upside breakup) to buy, then wait til to the exact bottom, I get out, and reverse become a short seller, then painfully watch it climb and put me in more red.
I do sometimes.
but you mean foolish, that is not. every thing has two sides. the wrong part here is not cut loss quickly when the breakthrough does not happen.
over the weekend, I told one of my church friend, I shorted natural gas at 2.625 at the historicaly low. he immediately barked back that is dangerous, it is too low and it dropped lot, watch out gap up.
i smile. whether gap up/or not, let's see this monday.
ha ha, now it is 2.540+, and struggling.... I am just foolish to short it over the weekend. neither i am smart, nor i am foolish, I am just lucky and i just do what I should do.
do not laugh at those people who keep buying natural gas or ung, when a new low printed, they buy, they thought it is a bottom, then another push down smashed them again, do not laugh at them, their mistake is not cut loss short or they are sturnborn to hold on to their belief: things go down will bounce.
they are not naive, they are just not lucky.
if someone picked INHX bottom at 10 over the weekend, you will say bottom picking is awesome. but that is just lucky. nor more than that.
so do not laugh at those people