It was the very good forecast they gave that cause the rally from the lows. It's smart to pay attention to forecast more than anything else right now because weak revenue and lagging eps results are already expected by the mkt.
I sense young trader confidence...I can tell you this... Being confident is important to success in trading...If your not confident you won't win. The problem is your confidence is a result of your first few trades making money...That happens to most people...That very confidence you have now will probably help you for a little while and make you successfull for a short time... But do you have confidence taking losses? Without that confidence your only half way there...You may think you know how to take a loss and a bad streak and whatever...But when your down 30% in a few months because you were wrong on a few stocks in a sector it's a whole different animal. Even better yet, blowing out your account...That's where many people go back to there 401K's and real estate...That's where many people leave the game... good luck man. You can get there, just don't think your ever bigger than the market...
I agree that getting lucky at first can cause a trader to think this is easy stuff- it takes considerable effort to become consitently successful.
Oh God! That's so true! The media follow the market with their news, that way they can never be wrong. Not long after the 213 pt. Dow drop an Elliott Wave International writer commented on the growing absurdity of media explanations for market movements. He said: âAs for "why" the Dow Industrials lost more than 200 points in one session, the various articles I had read offered a combined list of 10 reasons -- at which point I literally stopped counting (Osama bin Laden "acting up" was my favorite).â â EWI, January 22, 2006 The financial media are a wolf pack! Vitriolic, venomous, falsifying, fabricating, fiction-making parasites... ...but I have to agree with Rennick on that cutie Bartiromo! fx
I agree that a trader needs a plan, bit I disagree that a plan cannot be based on instinct, news and tape reading. This site makes it sound like you need a blackbox system or a phd in statistics to be a successful trader. I disagree. Although I may have gotten luck, I honestly believe that trading is much more easy then you guys make it sound. I believe that I am a good pure trader.
Dude, you are good. You are what is known as an incredibly gifted natural trader. You can't help but earn. You channel the market subconsciously. You don't need any training, discipline, or knowledge. Just trade and trade. Were thinking that about yourself, weren't you that maybe you are the 1 in a 100,000,000? There is no 1 in 100,000,000. You were lucky. Tighten up before you get your head handed to you.