Black Monday - December 31, 2012

Discussion in 'Trading' started by bond_trad3r, Dec 30, 2012.

  1. what did the man say? "Predicting is very risky, especially when it involves the future."
     
    #101     Jan 4, 2013
  2. Predicting itself is not risky.

    Only trading based on predictions without properly managing risks woud be risky! :D
     
    #102     Jan 4, 2013
  3. it's not that funny

    there was a time when I was eeking out a pretty decent living doing nothing much more than buying the bid and selling the ask

    (that's a hard way to make a living, and I wouldn't recommend it as a long term plan, but we all have to start out somewhere)

    and people use to ask me for stock picks

    and I always told them, "I don't predict."

    and my old uncle who was a neurosurgeon said, "You can't predict, but you can anticipate."

    And I guarrandamnteeya, he made a hellofalot more money anitcipating the health care industry than I ever made trading.
     
    #103     Jan 4, 2013
  4. I went long side of VXX at 27.50. What can you anticipate for my reward and risk?
     
    #104     Jan 4, 2013
  5. Would there be a chase?
     
    #105     Jan 4, 2013
  6. Awesome. You bought the low print!
     
    #106     Jan 4, 2013
  7. Refund, refund!
     
    #107     Jan 5, 2013
  8. Why did you quit it? Are you implying that others are not making their income buying the bid and selling the ask as you once did?
     
    #108     Jan 5, 2013
  9. Sorry, no refund, not my fauft really (the market is Always wrong)! How about if you made good money.

    Probably I should re-study his theories instead. http://en.wikipedia.org/wiki/Srinivasa_Ramanujan

     
    #109     Jan 6, 2013
  10. glad you asked, I certainly didn't quit because I had finally made enough money

    that is a very stressful lifestyle, ok for a young man, but I got a late start and already was older than most scalpers

    most my age had large positions in stocks, and in those days, they made more in one day than I made in a year scalping for $12.50

    but it was crazy, and I would put them on and take them off all day long, but occasionally I would end up net long or short on the close

    and I saw just how much you could make or lose holding just three es contracts over night
     
    #110     Jan 6, 2013