Long term market trend has always been up, despite crashes. October 1987 - hold your longs and recover within 18 months. On the other hand, if you were chargin on margin, say goodbye.
I don't know what his problem is, but obviously things are not going well in his trading, or life etc. Maybe he is short from january or march lows, and is really feeling the heat. The market will move when it's ready to move. Whether that is now, or two months from now, no one really knows. I'll just trade based on my silly little charts. It's funny, my silly little charts tell me to be cautious, but stay long. They will also tell me when to be short. I won't catch all of the move either way, but I will catch some. I don't trade on margin, and I am never 100% invested so the market can do whatever the hell it wants, and I don't think I will be committing suicide anytime soon.
agreed, and btw i use those silly little x's and o's aswell. so silly lol, i started using them ever since your amazing informative thread about them. thanks again holygrail
You are so out of your league, you haven't got a clue. A wise man learns through the experience of those that have been there. Sit through a real crash and watch for yourself the devastation it does and survive, then let's talk man to man. Until then you may want keep an open mind and heed the words of experience. All technical analysis will be completely useless once a real crash happens and 95% of the traders that are in this room will be wiped out.
I hope you never have to live through it too BUT the fact remains it will happen again. Sooner or later
I know it will. I've only been trading since 1997 but I'm not an idiot. I don't base my decisions on potential catastrophic events. It's just not a way I want to live my life. I manage risk very well, so there isn't anything economically that is going to have a major effect on my life unless the world ends as we know it.
i hate to back up anyone thats as cocky as that but the fact is fundamentals blow charts out of the water whenever they want,something to remember when the economy is this bad,be very vigilant with stops
Joab, since you're an extremely seasoned trader, I'm curious why you would want to "get the hell out" rather than shorting the market.