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dumbgai

Registered: Jun 2007
Posts: 59

10-08-08 07:08 PM

too many headfakes, wont be surprised if we close around 0

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stock_trad3r

Registered: Jun 2006
Posts: 9988

10-08-08 07:11 PM

Buy now and do nothing for 12 months. The huge 100 point spike 2 hours ago was funds loading up. They aren't going to let this rally fail.

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The Swordsman

Registered: Apr 2007
Posts: 1538

10-08-08 07:18 PM

any trader that pigeon holes themselves as a "breakout" or "range" only trader get what they deserve when the market isn't to their liking.

Maybe these breakout traders should learn to read the market better.

Quote from dumbgai:

today has not been good for breakout traders
too many headfakes, wont be surprised if we close around 0

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coolweb

Registered: Jan 2005
Posts: 3538

10-08-08 07:22 PM

breakout trading is actually a very bad strategy, think about it ,

are you the only person seeing this breakout? or hundreds of other idiots watching the markets with you?

think really hard.
then you'll realize why you are unprofitable.

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dumbgai

Registered: Jun 2007
Posts: 59

10-08-08 07:24 PM

hey im not saying im a breakout trader.

im just saying today looks more liek a range day than a trend day.. i hope im wrong because i do have some long positions.

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