Fun in being short

Discussion in 'Trading' started by Shankar, Jul 19, 2002.

  1. Shankar


    What a market for being short. Since I like to go short I finally get payed back for all the hard time. Anyone else here feels like it, unfortunatly I am only playing small :( but if the market continues I might be able to increase my bets.

  2. Magna

    Magna Administrator

    The only fun to me is making money. :) Couldn't care less whether I'm long or short.
  3. having a bias is not something to embrace, it is something that you should work to correct.
  4. You have to short this market but it is definitely not fun for me. A lot of people I know are watching their savings disappear. What the hell is fun about that?
  5. I don't think its fun really, I would rather be long. But I would rather be short than go broke. There always seems to be something to go long on though, but right now it is a very short list.
  6. Hey, Dot.. you can always go long on puts :eek:
  7. trdrmac


    My thoughts exactly.
  8. If I recall correctly, in one of the market wizard books, O'Neil says that he got the capital for starting IBD from three trades that went especially well for him. One of these was a short.
  9. trdrmac


    Unless you are early or precise in your timing shorting can be very frustrating, even more so than being long. I remember losing about $1000 bucks in 10 minutes one evening several years ago. And that was on 100 shares where I could not cover.

    The frustration, just like being long is covering at a loss only to watch the stocks reverse and drop like Tyson in his last fight. Or days like July 5 where my shorts went several thousand dollars against me on very light volume. Fortunately that was a good week in other areas.

    The fact that shorting is getting so much press lends me to believe that going heavily short right now is probably not a sound money strategy. Then again, my charts are starting to look like they want to merge with the asian markets.
    #10     Jul 19, 2002