Maybe its time you put up some numbers and show these failed daytraders on this thread how a real man does it. http://www.elitetrader.com/vb/showthread.php?s=&threadid=50472
Why bother. Unless there is intelligent discussion in this thread based on the premise in the opening statement, everything else is hearsay and crap. For whatever rationale you use for your trade, whether it be the sun setting in the east in Zimbabwe, grandma taking a dump and missing the toilet on a Wedensday, which way Maria Bartiromo' parts her hair on the open, or some crazy technical analysis based on ancient mathematical voodoo, take the trade as you see fit. Realize this thread started off with reasons for the direction of the trade as well as a target. I'm sticking to that unless things drastically change. You know, this place would be great if its members stuck to a few simple things: Current bias % of capital in position Trading instrument Reason for the trade Time frame Everything else is just bullsh*t.
Did you see it! Did you see it! That's what a daytrader focuses on. Not me. Ten cents of random guessing chaos isn't my style.
Still short and added at $38.46 Positions: =========== $38.46 3.0 parts $38.15 2.4 parts $37.82 1.0 part $38.24 avg now
I don't know about you, but most of us have a huge problem in basing trades off some of your "newspaper headline" premises that you listed in your opening thread: Reading the newspaper is not where most traders gain their insight into building a case for a trade. Also, averaging down a short on an OUTSIDE REVERSAL DAY in the markets is also something that most traders would have a great difficulty of doing. It lacks discipline and is usually a recipe for disaster.
Most of us? Since when are you speaking for the entire website. Consider that this thread has had not one single person bring up what you said above. How can you go off with that premise when you don't have proof whatsoever. For you to "speak for others" shows you got a big head. And what about all these off topic posts you have injected into this thread with personal attacks on rubberbird. What the hell does that have to do with this thread. You know Apex, you may be right with the above statement. And you may be wrong. But so far, you've added nothing to this thread other than unintellectual posts resembling someone that has nothing else better to do than harass. Why is it you feel that every post you put up has to be an attack on someone else's thought? Let's see you make some calls hot shot. I don't think you even got the balls to do it. A perfect example was a post you put up the other day talking about a pivot number. But nowhere in that post did you suggest what you were going to do if that number hit. Then, you suck up to the moderator running that thread and also pat yourself on the back AFTER it happens. We don't give a crap that you picked some number out of your ass and it hit. We want to know what you actually did. Who's to say that you didnt go long or faded the pivot. Unless you say, who's going to believe you unless you post it AHEAD OF TIME. Any moron could pick pivot numbers any given day and have them hit. How about making a short term 3+ day position trade call. What? Not your style? Then STFU and trade.
Guess you missed my LONG position in LLL from last Friday in this thread: http://www.elitetrader.com/vb/showthread.php?s=&threadid=55627&perpage=6&pagenumber=2 Or my prediction that the SPX was bottoming today in an earlier thread this morning: http://www.elitetrader.com/vb/showthread.php?s=&threadid=56990&perpage=6&pagenumber=11