It IS rigged in the sense that ZIRP is allowing the inflation of asset classes like no other period in history. Hike a few percents. Hell, hike 1% only and begin to see what happens to this "Bull Run".
Settle down, the only people making money now are people with no idea how to trade. They buy and hold and then buy some more. Enjoy any money you have made before you give it back. Please tell me what economic data made the market go up today.
I wouldn't go so far as to say this, however with small intraday ranges and low volume, it's harder to daytrade right now than in recent memory. But I do agree with the notion that a lot of 'idiots' are cashing in right now and the markets are just not set up for idiots to keep winning
Very few are cashing in. No one in there right mind would be buying after such a big move up with zero retracement. The market is very overbought, very few are making money. Just look at the ES thread. Everyone is afraid to buy. To far to fast.
There are money managers who are given billions to manage for the next 30 years who want to catch up to their benchmarks after they have too much cash. Not everyone thinks in terms of profiting from the next correction in the next XX weeks.
Hey 'sooky' why haven't you posted your charts and platform? something to hide? or nothing to show? -------------------------------------------------------------------------------- Hmmmm.. I can't hear you 'sooky' Fireplace ran away in another thread as soon as I asked to see a little proof that he trades.. if only I had known earlier that was all it took to get rid of him Burnt beyond recognition
The task of the independent trader is to score as many points to make a net total daily. In that context, this thread points at a big and endlessly repeated failing that besets amateur traders. The only thing you require from price is change: price going upwards and then price going downwards (or vice versa). This means that you either have a neutral mindset or you train yourself into a neutral mindset. With a neutral mindset you want price movement; you NEVER mind if it is up or down. You are then with the market all the time and merely utilize what it daily offers. Instead the thinking and outlook at ET is often set in a hierachy of veiwing price as too low/too high - whichever. Or alternatively price is viewed as needing to go one direction or one underlying direction. This is a serious impediment to trading successfully. The answer is to view price neutrally. Price is always your friend. All the time it whispers, "Work with me and I will make you rich".
I once did an experiment with my 6 yo son. I let him log onto my papermoney acount. He is really interested in money and foreign countries as he's been to Asia twice with the family and is fairly bright. Naturally he sees Dad staring at charts half the night and he wants to do what Daddy does. So I told him to just buy whatever is going up and sell whatever is going down and set him up on the forex screen. I sorta chuckled to myself. The next day I see his four trades. One small loser ... One scratch and Two huge winners .. I mean he placed 1 contract forex trades requiring $400 total margin and he was up like $70 or something ..... I still can't get over this .... I didn't even what to let him do it again, as I've never made a dime in forex .... it disturbed me too much We're overcomplicating this shit