I never have a great answer to this one. Here's the best I can do to explain it: http://www.elitetrader.com/vb/showthread.php?s=&threadid=54604&perpage=10&pagenumber=1 AND: http://www.elitetrader.com/vb/showthread.php?s=&postid=816928&highlight=stops#post816928 (And one more old thread I'm trying to find right now...)
Dude! How do you remember some odd post about stops you posted 5 years and how many hundreds of thousands of messages ago? Why go through the trouble of finding and linking? I guess I could remember my posts here if I tried, but why try?
Hmmm... not quite sure how to answer that, but IIRC I was asked a similar question back in '06. Let me search the archives and get back to you on that one, ok? Back to business: Anyone piggybacking me in my current ZSL long position? Please raise a hand if you are. I haven't exited any of it yet- waiting for bigger gains before I start scaling out. ZSL current price:$13.64
I somehow believe a good trader has to have at least decent if not great memory. Why? History repeat itself. The more you remember all the aspect of the economic condition for a certain event you are gunning for, the higher the probability you have a winning trade.
Since silver seems to feel like screwing around a little bit before it drops (taking out stops the wrong way, etc.), I just took off 17% of my position (sold some ZSL at $13.29). I can always size back up again when the time is right...
RM, H trade was a bad trade that could have been totally avoided. it has cost you millions in lost money and lost opportunities. certain things people may or may not have total control over. for example, we don't decide what genes we inherit and/or medical conditions we may have, etc. but if one has a choice which country to live in and consciously chooses one of the worst countries for his needs then it is a bad trade.
Moving to Vancouver is always at the back of my mind (sometimes the front), but how easy do you think that would be? What if I'm tied down here in the U.S. by complicated personal factors you don't know about? How about the fact that most of my remaining net worth is tied up in a seven-figure home I own outright, and can't possibly sell for any kind of reasonable price in this market? Wait a second... I think I have another archived post that can shed some light. Check this out: http://www.elitetrader.com/vb/showthread.php?s=&postid=2711342&highlight=canada#post2711342 One more thing to add, the U.S. federal government bubble and/or our oppressive prohibition policies could easily collapse under their own stupidity and unsustainability within the next five to ten years, don't you think? Then I'll have moved for nothing. Edit: Ok, maybe <i>two more things</i>... another problem with switching countries would be having to forfeit a few important close personal friendships I've built with people who live nearby. Yeah, you still technically remain friends with someone who lives a thousand miles away, but it's never the same. I'm still kinda pissed that Super DJ Eric R. moved to Texas. That guy was awesome to have around! Maybe none of these things on their own justifies my staying put in the rapidly declining, oppressive, former-empire that is the U.S. ...but taken all together, you can see why I'm so hesitant to uproot and seek a freer life elsewhere. Besides, am I <i>really</i> the only guy here who thinks about fleeing the U.S., but doesn't actually get up and do it yet? Everyone has their reasons...
Nice to come in with a gain rm. I had alot more of gld and slv short last night, covered alot of it right before 8 est. I still am coming in with a good gain, thought it was odd for gld and slv to be up yesterday with the euro weakness, now euro up today and gld and slv down big, maybe the relationship is breaking down. Last time I went home short a bunch of gld and slv I came into the day with a 8000 loss, thats why I covered last night. Oh well woulda, coulda, shoulda.
I just bought 20% more ZSL in pre-open trading. ZSL current price: $13.42 JD, here's kitco's explanation for why metals are down big this morning even though the dollar is actually up today: http://www.kitco.com/reports/KitcoNews20101112JW_AM.html Glad you're in this with me... just wondering: Are you in this <i>because</i> of me?