The old " The markets can stay irrational longer than you can stay solvent" is 100% true. People just don't seem to get that. Have seen so many of these "THE MARKET IS WRONG !!!!!" type of traders go up in flames. When I first came into the business I was hired along with 3 other guys by a CTA to trade. He told us that all 4 would trade for a month, and he would keep the 2 guys based on performance. Long story short....myself (I had 2 yrs experience on a prop desk)and a guy who came from the silver pit were hired. The 2 guys who didn't make it were ivy league types who had this "I am right, the market is wrong attitude". I'll never forget the one guy they canned a week into the program. He was short Swiss Franc futures which were like 100 ticks up his ass. The head trader came in and asked him what his gameplan was. He said "My analysis is fundamentally correct...the market will come back". They canned him right after the close that day.
I sometimes do not understand people and how they think so I thought I might ask this question to better understand. If you dont like this place and are 100% convinced it will not change, then why do you keep coming back and beating yourself to death over it? Why waste your time that could be better spent doing something else, anything else that makes you happy? My guess is that you have some type of negativity in your life and you are generally insecure about yourself. Therefore, you come on here to vent on others telling them how they are so stupid and dumb. If there is one person Baron should ban and get rid of, then it should be you. Its not right venting on others just because you are insecure with yourself. Go to a psychologist and do that on them, but not us. Thanks.
Stock_Trad3r, it's time to look yourself in the mirror. Haven't you been shamed enough on this site as it is? You and your ridiculous "paper-trades" like the 100 contracts short at 944 on 7/20 and the hundreds of posts that you have littered ET with under dozens of aliases??? http://www.elitetrader.com/vb/showthread.php?s=&threadid=170361&perpage=6&pagenumber=3 So much for your "trading" journal. It wound up becoming absolute COMEDY and moved to the "Chit Chat" forum.
Financials are up because the Goldie families have been sowing into charitable giving: http://www.nypost.com/seven/08052009/gossip/pagesix/goldman_sachs_wives_hate_to_wait_183044.htm
The truth, the honest truth, is that I dont beat anyone up. I have a great time in life with the people Im with and what I have. However, judging by 7000 of your posts, which all have some type of negative slant, you seem somewhat disturbed. Go back some time and read what you type. You dont like this place, you constantly complain, but yet you keep coming back. Why? Ask yourself why? Have a good night.
Well stock turder if my comments about this place being full of idiots gets a few of you to leave then mission accomplished. Again...I come on here for comedic pleasure as some of these knuckleheads are so out of touch it's funny. And I don't berate too many people on here..only occasionally.
So that means we can short the financials with reckless abandon and average into losing positions that go 500% against us? Just because in "reality" they should be trading 90% lower?