Dudez. If you havent figured it out yet, Im just some guy in Manhattan working at a bucket shop swinging short term positions day to day. Im going by the chart that I just posted up more or less. I realized there would be an upturn today, but there will be a downturn tommorrow.
Right again. But, I'm already as conservative as they come. If I get anymore conservative, I wouldn't trade at all.
Shorting at the end of the day and holding overnight is a very low risk strategy. Look at the $NYA. Exactly a 50% retracement. Today's rally was a relief after yesterday's dump, tommorrow we continue the downtrend. http://stockcharts.com/charts/gallery.html?$NYA
You may be right about the downturn. But explain why you held onto a losing position, and then added to it. With the advantages you've got, I would just day trade and NEVER hold overnight.
Agreed 100%. But since so many "cheerleaders" here on ET make all sorts of claims regarding TRADES and do so conveniently without the use of stop-losses, it's a complete waste of time to even question their methodology because of the lack of money management rules. ET member S2007S comes to mind when it comes to repeatedly averaging down on losing trades and not using any kind of stop losses. My guess is that he is merely a "prop" poster on ET, and does no trading whatsoever. If he did ( with his "methodology" ) he'd have been bankrupt a long time ago! Here's a classic example of one of his "idiotic" risk/reward trades: http://www.elitetrader.com/vb/showthread.php?s=&postid=2394331#post2394331
You realized there would be an upturn today? STFU. Seriously. That's among the most ridiculous things I've ever read. Funny you didn't make a statement like this pre-market Tuesday or post-market Monday. This is really only a statement that someone that makes absolutely ZERO money as a trader would make. Funny thing is, if you knew this, why didn't you make any money on it? I've heard about some of your idiotic trades and statements, but wow. Tomorrow, post-market, why don't you tell us exactly what you "expected" to happen after you read the market summary.
threads like this one are a prime example why i spend less and less time on ET since I first arrived 3.5 years ago. talk is cheap...and posting on ET is even cheaper! cause no one can actually call you out on it in the real world. in truth, there have been a handful of posters on ET (out of hundreds) that have actually added value to my trading.....a few gems in a sea of posers, losers, kids, etc....i actually owe a lot to a few of them who pointed me down the right path. except for them, the main reason i come these days is to post my daily pnl (which i may stop soon as i don't think i'm getting any value out of it...it seems like i'm ones of the only one who posts a daily ES pnl blotter). ET is turning out to be a big disappointment for me as a trader. someone who is an awesome trader once told me that the "ET community" is just a reflection of all traders en masse , i didn't get it at first, but i think i do now. mostly a lot of hot air, a few grinders, and not much real profit.
LMAO. Ya think this is why this dumbass troll wouldn't answer easy questions? Why do these retards even bother? I mean seriously, the trolls that infest this board nowdays is ridiculous.
I have no obligation to answer your "easy questions" nor do I have the time to waste. I will post at my liberty and answer the questions of my choosing. No matter who you are, you are nothing to me and someone that doesnt matter.