This picture (link below) is worth a thousand words, pretty much illustrating my first post on this subject (the quote above). Particularly when knowing it was just a few ticks away from adding a 3rd layer at an obvious place on the chart (about the middle of the chart on the 14th). I captured this chart with a screen shot yesterday. I got out a few days before with a modest gain on the first (original) position and a very nice gain on the 2nd layer, but two more days (ending yesterday) would have been all that much more significant. Today, it would have been the pot of gold at the end of the rainbow, intra-day. Hopefully this post IS end of subject: layering (not averaging down) via pairs trading. Just wanted to put the picture with the original post on the subject. SEE LAST CHART AT THE LINK SHOWING CI / AET http://www.elitetrader.com/vb/showthread.php?s=&threadid=134253&perpage=10&pagenumber=277
I pay attention to the timing of fundamental releases, but not the content. Purely a technical trader, you know the kind that many think it's worthless, that kind
I know this thread is old but here's my take. I check out the fundamentals but I validate my entire outlook by what price is telling me. For instance, if I feel that due to fundamental reasons a market should fall, I would have to see prices setting up for a fall before I trust the fundamental view. In other words, the tape is what I trust. If the fundamental picture isn't confirmed by the tape, then I will listen to what the tape is saying and discard the fundamental view. I trust the tape, why? Because after all, we study the markets fundamental and technically to get an idea of where a market is likely to go, so why not let the market itself tell you what it's likely to do?
%%%%%%%%%%%%%%%%%%%%% I agree with MT, most of that, except I hate the tape, too many numbers on tape for me.But I do like candlechart-numbers,+ mountain + valley chart- numbers. because a candlechart picture is worth a thousand ticks /2 thousand ticks............................................................................................................................................... Don't know why anyone would consider fundamentals useless????? Rich ''turtle trader'' Dennis said'' I hope they don't stop using fundamental analysis''; LOL but true. But you do have to be careful; the fundamentalist oil bulls just ''knew/predicted'' peak oil was bullish/price,LOL. Not a prediction;best trends+ fundamentals look like a gasoline/TX TEA low bid war[bearish] but I am still bullish on tek stocks. NOT a prediction..............................................................................................................................................