Still counting chickens before they've hatched I see ... LOL, none of you people are traders! The "LuckiestGuruEver" came her trash-talking a mile-a-minute, and now he's been exposed as a luck seeking gambler. If you think that's good trading spinn, you might as well take your stash to the Casino ... (uh, duh) ! *** Hey "Luckiestguruever", lets continue to hope and pray that the market doesn't move up 10 pts and take out your breakeven stop (oh yeah, good move, giving back all that money!!!) :eek: Man, I never enjoyed taking Long trades before as much as I did TODAY!
In reading through some of your posts it seems that you went from a positive force to a negative one. may i ask why?
Ok, so you took a long position today... Am I correct to assume that it's opposite of guru's? Not being negative here, just trying to learn. Out of curiosity, why would you enter on a Friday? Do you think it will gap up on Monday? What I see is what looks like the vix putting in a triple bottom as of yesterday, and today ever so slightly moving just a bit lower. Was this slight move enough for you to go long? Again, not being negative here, just wanting to believe that you are the trader you're fighting for all of us to believe, thus, I want to watch and learn from the successes of great traders. I hope you answer sincerely without the smiley faces, but if it makes you feel good to throw a smiley face in, I guess a couple wouldn't hurt.
Hmmm.... ok - now I see what is going on. There is a T O N of institutional buying going on everywhere... Maybe the beginning of the next leg up? :eek:
There is a big difference between trading and gambling. It takes many years to tell them apart though. JJ aka as Mandel is correct and his posts are well intended. Just to give the OP a heads up, if price breaks Friday's low Monday or Tuesday, the correct possible sequence to trade this over the summer will be to cover and reverse at 875, and then cover and reverse at 1000 and finally cover at 800. Anything can happen, but that is a possible scenario. Good luck.
Well, Looks like several skeptical members of the forum completely disappeared when they saw that the " Gamble " trade went in the right direction, then the " GURU " got so upset that he also droped out, then this guy Mandel, don't know what to say, but he seems to be in a irritating mode, maybe taking this game too personal. This is why I stopped making calls on ET a long time ago. First of all , this was NOT a gamble trade for the simple reason that the risk- reward was defined from the very beginning. Of course the trader ( " TBGE ") made the mistake,of calling it " Gamble" which it did not gave him any credibility what so ever, and invited or encouraged the Vultures ( Guitres ) to come in for the kill ( harsh critisism ) when the trade was in deficit. What did we all learned from this simple exchange of hostile and illogical ideas? 1. Define your trade and state your rules from the beginning otherwise it will draw the wrong attention, 2. Stick with you plan and don't respond to ilogical critisism 3. Take the money and run, LOL !
IMHO, and fwiw, )) I think taking a long position on Friday, even with the mass institutional buying, weighs on strategy and gambling as I've seen several times in the past where gross institutional buying was followed by a settling period for which that secondary spike of buying after the settling is the safer place to get in. In addition, I think with a healthier National and International climate, Friday's position would've been a safer entry having to wait through a weekend, most likely with a gap open and a follow through Monday and Tuesday, but, (and I know this is going out on a limb, but I think relevant) when we have news out there speculating things like N. Korea is going to attempt a nuclear launch between now and July 10, I think the potential is there for increased volatility. 80% strategy... 20% gamble 100% positive Mandelbrat knows what to do if it goes against him. :eek: (this smiley face is my favorite)
I think you better double check that...the only thing I've read is that they may do a long range missile test (i.e. no warhead) around July 4th...and of course they may do another underground nuclear test but I haven't seen any credible source say they are going to attempt to launch a nuke.