Trading styles... who cares, so long as they make money. Well I think a very few people do care. They care that the style actually works under combat conditions, not just reflectively on a chart or on a sim. They care that the style maximizes dollar income, not just points won less those handed back. They care that the style is efficient from the point of view of dollar risk and account efficiency not just "I am up a few bucks today". They care about the screen time devoted to the consistent size of net return. And most of all, they care that they can continue to tune their style into a market that is forever changing. regards f9
I'm being nice but those of you that are wise enough to read between the lines of my post will see that I disagree with Stealth Traders attitudes about only taking little bites out of the market. ALL and I do mean ALL the great traders in the present and the past took the lions share of their trades and no one ever got rich taking little bites for any length of time but like I said, too each their own and if you all want to follow this guy like silly puppies, all the power to you. I am happy to have your liquidity
The following post appeared on page 10 of this thread and was the definitive post of the thread. There were then 26 extra pages of postings (depending on format of course): "05-14-08 07:16 AM The entire picture is price WITH indicators. Indicators are very valuable tools and should be employed along with price. Volume is an indicator that can be discarded. It falls into the categories of too subjective and too much information. Thank you for your time. "
Comparing the macro strategies that hedge fund traders employ to what retail (or even many professional) traders do is like comparing ... bananas to beef steak. IOW, there's just no comparison at all. But I'm glad you're a successful trader, and I'm glad we're keeping the conversation on trading. Best P.S. I am sure in most (if not all) of your trading you employ price action to help you determine when to hold'em and when to fold'em.
allright, price action today shows no pullbacks, we are at a major res line at 1440,everyone knows this number,selllers are not coming in, this is accumulation or distribution,i think its going higher,i;m already short and don;t want to cover here,this is where i often get nailed...this is my mental block spot in trading...any thoughts
If it's going up, why are you shorting? *** This is the second part of the equation, and what we do over and over and over and over and over and over again ... until we learn not to. It's going up, like you said, with no pullbacks. So stay LONG until further notice.