This thread doesn't seem to be about trading although some of us have made trading related comments. This thread is about leveraged investing in Natural Gas and it provides an interesting view of the way investors justify their investments in "managerial ego."
That was my take to a degree also. Unless you're some massive hedge fund or mutual fund I don't see the point of averaging into trades of this. It is highly leveraged and if you're wrong.......... Ask Amaranth Advisors. In the markets many have been washed out by insisting they must be correct in their call. We hope that doesn't end up being any of you. FWIW I trade QM myself and, at this point especially, only intraday.
Thanks for the perspective. Agreed - it will bounce and you are very right - the key is where I get my basis too. I'm still learning, but I do so love volitility........
Also FWIW, legendary trader Paul Tudor Jones http://en.wikipedia.org/wiki/Paul_Tudor_Jones made lots of money by playing the points where the market turns. But he knew what he was doing and had/has experts working for him such as Ken Grant http://www.amazon.com/Trading-Risk-...=pd_bbs_1/002-4747287-8600813?ie=UTF8&s=books to focus only on managing the risks. "If I have positions going against me, I get right out; if they are going for me, I keep them... Risk control is the most important thing in trading. If you have a losing position that is making you uncomfortable, the solution is very simple: Get out, because you can always get back in." Paul Tudor Jones
Wow........ BTW nice post in the short term bottom oil thread which seems to have helped turn things around.
And one more before I check out for the evening Market Quotes on Losses http://www.turtletrader.com/market-quotes.html Good night. Sleep well. See you all tomorrow.
not yet - i actually closed most of my position early this morning to play the FMD move - i will re-enter in the next few days...