My ability to make better choices in my trading account (vs. the investment acct.) has improved since I implemented the principles of rs7's concepts on successful trading. I now understand that I had gotten a little lazy with my trades. O.K....maybe a lot lazy. But I'm back to doing what I'm supposed to do. I think that just as important as learning from threads like rs7's is that many of my ideas about trading have been confirmed. ie: Depending entirely on charts is not a wise choice. That's just one of numerous things I've picked up from you'll. Last but not least, I am beginning to warm up to the idea of going short on a trade. I understand the concept of how it works but I've had this inner struggle with the idea of desiring that a stock will decline. It's kinda like...um, I know it's legal...but so is divorcing your wife after 25 years of marriage and marrying a 19 year old. It's legal, but is it ethical? Is it morally right? Please don't take this the wrong way. I am judging for myself...no one else. And I admit I am ignorant about it. Several have mentioned that shorting is necessary in this market. I don't exactly understand what that means but I'm listening and learning from you'll.
Lavish, thanks for the informative post. Guess what ? I was just telling my wife this afternoon that this is one of things I learned on Elite Trader !
the site makes me aware that there are many styles and techniques in trading and that there is no single holy grail. I especially find helpful the more experienced traders ideas and commentaries.
glad to hear that i contributed something of value to someone. Lavish, I understand what you mean about shorting...it can seem like an anti-social kind of trade. But it is part of the business. Me, I want the market to go down when I am short, but close up at the end of every day. That way my personal account (RIP) doesn't suffer (too late for that now), and the country prospers. But that is just too emotional. I missed making a LOT of money because of my distaste for shorting at the end of 2000 and beginning of '01. But I finally had to join em, 'cause I couldn't lick 'em. But when I am at a craps table, I still always think the don't betters are misanthropes!
rs7, It's good to see u here, and as I told u earlier, IMHO, you're one of the best contributors on ET. BTW, I was also told that it's unpatriotic to short. But I have no comment on this.
Someone actually told you that? I just thought anti-social. I never considered "unpatriotic", but that was prior to the economy going to hell.