You're probably a recent college graduate (or not) who thinks he know's everything. If you've only been trading for a year and a half you haven't been around long enough to experience anything. I used to trade with people like you and they don't last long. Granted, I am generalizing you based from your intuitive posts thus far, but I'm sure my assumption is pretty close to the truth. Good luck.
What the heck are you doing trading CSCO & SUNW anyway, are they under a buck? http://www.elitetrader.com/vb/showthread.php?s=&postid=132396#post132396
I graduated college which means absolutely nothing when it comes to becoming a successful trader. I've been posting on this board since March and I rarely call people out. The only reason I spent my time replying to your post was because I recognized some of the characteristics of a young inexperienced, cocky, know-it-all trader who thought he ruled the freakin' markets (Trend Fund quote... bad one at that). My point being is I made a ton of money the first year I traded (started my senior year in college) then blew up my account and so on and so on before I learned how to really trade. Watching the market for 2-3 months is like saying I practiced golf at the local putt putt so now I'm going to try out for PGA Tour. You might have a few lucky rounds but longevity is not in your favor. Trust me on this one... you have no idea what market conditions really are, but more importantly, you haven't experienced these market conditions. It's good that you've traded during one of the worst bear markets in history but that's only a fraction of the overall picture. Determining Market Sentiment/Direction is the MOST IMPORTANT aspect of trading over the long-term. New traders begin studying Technical Analysis, which is good starting point, but the veteran and successful traders use feeling, intuition and most importantly they can read Level 2 and out smart the Market Makers/Specialists. That's when you know you are a professional trader. I still use TA for my swing trades (2-10 days) but not much for intraday trading. For the newer traders, take a look at a few of my threads that I've posted on for the past 9 months or so which explains what I went though from day 1 until now. I haven't posted that much the last 2 months or so since the market has been to busy for me to spend time on the boards so my older threads have more useful information. You can take it for what it's worth. Seanote
it was down everywhere..........but that doesn't mean that the exchanges are down, or market makers are down Robert
I don't think Elite as "THE SOURCE" for when I have problems. First and foremost is the back office at my firm.
No, real traders trade during the day. If we have orders stuck out on Island, we're more worried about those orders then writing meaningless messages on a board. The people who have time to post 30 messages a day are the ones who are not "real traders".
Seanote you have some great posts and this will be added to the list in my book. I remember getting really consistent in 98/99 Having traded since 95. Than a Bear Market Happens.. took me awhile to relearn what works in a different environment. Now I know much better. I realize I DO NOT KNOW EVERYTHING, the market is always changing and be ready to adapt at the first sign when you start to get different results. Luckily now I'm pretty well connected so if what I do doesn't work.............I can ask others and do what they are doing that is working Robert Tharp