Only I can pick the top: Short 1049 ES

Discussion in 'Chit Chat' started by TheBestGuruEver, Sep 15, 2009.

  1. I take it you have never played Russian Roulette or aren't married.
    If you can't be consistently profitable, your brain will fester on you for a variety of reasons.
     
    #51     Sep 17, 2009
  2. FB123

    FB123

    Well, since we just hit 1071.75, I guess the OP is now stopped out. This is why you never short into the face of an uptrend - you wait for the trend energy to die out, for a range to form, and then for price to start accelerating to the downside. But in general, making a swing trade short call in the middle of a 6 month uptrend is pretty much always a bad idea, especially in a juiced market like this one.
     
    #52     Sep 17, 2009
  3. deaddog

    deaddog

    Are you not supposed to call the coin toss when it's in the air?:D :D
     
    #53     Sep 17, 2009
  4. from your lips to et ears
     
    #54     Sep 17, 2009
  5. I'm missing the point most likely but if your trading isn't any more accurate than a coin toss you have larger things to worry about. Calling a short as this market was currently making new highs and strength still straight up was foolhearty.
    As an independent trader we each find a personal level of consistency based on whatever method works for US. The one thing I have found is that taking the time to learn to read a chart has been priceless. Guessing is not something I can live off. I have to earn a profit each day. The key word is EARN.
     
    #55     Sep 17, 2009
  6. I thought I read that he only trade 2-3 times month. And he only tries the major reversal every 1-3 months.
     
    #56     Sep 17, 2009
  7. you know him so well how?
     
    #57     Sep 17, 2009
  8. deaddog

    deaddog

    You posted your trade after the price hit 62.75
     
    #58     Sep 17, 2009
  9. I wan't making a live call just responding to it. Mine was just a snide response.
    Though profitable, I didn't make my trade based on the Guru's pick. It was hilarious though that it worked out as a nice fade.
     
    #59     Sep 17, 2009
  10. Opps!!!........... 1071 :eek:
     
    #60     Sep 17, 2009