Fair enough. I was responding to the OP generally, but also to the many posters on ET who take issue with a trade soley on the basis of top picking, alone a suprious reason for questioning a trade. As far as having an opinion and being married to it, I would agree that is not helpful. Ironically, I notice far more of that from the perma bulls than the "top pickers". There is no correlation between length of time on ET and trading ability based on the posts of people who have been registered since 2000-1. Some have been posting drivel in the chat section for years longer than I have been registered on ET and I doubt they have placed a trade in their life. Perhaps I am the exception that proves the rule in that regard, or perhaps I am just lucky
Nice... except you're wrong . This is definitely not a zero-sum game, perhaps more clearly illustrated to you by the fact that around 2 trillion dollars were created last year, which means that for all the money you lost, someone else won it all plus some!
Good thoughts.... I wasn't saying that you cannot perform analysis and then trade that, but I'm often amused by the amount of very bullish or very bearish predictions. Saying something like dow down 150 pts tomorrow is not the same as performing real-time daytrading. Assuming we are all traders here, I believe a trader cannot and should not come into a trading day with any strong bias. The job of a trader is to simply exploit the supply and demand, correct? If so, the job then is to jump in where opportunities exist and jump out where you see fit. Simply saying the Dow will be down tomorrow is a 50/50 coin toss. No one knows what will happen tomorrow. So why bother going into the day with that bias? If you were looking to short all day today, I'm sure your account reflects that. If you just simply took advantage of the many trading opp's today, hopefully your account reflects that. It's just amusing to see the posts come out when there's some volatility present.
Not everyone daytrades. If you don't daytrade determining if the markets are in a bullish are bearish trend are important.
I'm not debating that at all stock. What I am debating is - why bother posting Dow Down 150 pts tomorrow. No trend analysis is going to predict that w/ any reliability. Even a blind squirrel finds a nut.
Not bashing any long or short positions. The point isn't that picking tops and bottoms, etc, isn't a way to trade, it's that posting sensationalist garbage about tomorrow's direction is meangingless and just makes the poster look foolish. If you added up the combined P/L's of these types of posters, you would see a horrific pattern of losing. Guaranteed. The good thing is these posts are great indicators. Take the opposite side.
I just don't understand why you have to be so dishonest and sell bootleg copyrighted trading material on ebay. http://cgi.ebay.com/Traders-Interna...oryZ3148QQssPageNameZWDVWQQrdZ1QQcmdZViewItem
Making the worst system is as good as making the best... Use the worst to do the opposite... LOL... So the worst trader is really the best but in the other direction