Thats assuming they had a short bias the whole year.. which is foolish. I have a heavy short bias right now. Waggie you are so naive in your thinking. And yes Waggie many consider me a professional trader. I am profitable and do this soley as my living. --MIKE
"Mecro.. say whatever u want about bullshit TA.. and the trend is your friend crap. All I know is that 90% of all online trades lost money in 2003.. which was an awesome trendy year." if 90% of online traders lost money in 2003 ( i doubt it) it was because of shorting.
Quote from Trend Fader, yesterday on the 18th: "I am fully 100% short IWM at these levels. I think the market will slice 50ma here." Quote from Trend Fader, today on the 19th: "Today was another great day. My bias was short so i kept on fading the market. Payed off.. I was on the right side today. The gap allowed to me short at high price and cover some of it to lock in gains and still maintain short bias." Excuse me, but how are you able to come into today's strong opening, with the IWM opening at 118.80 making any kind of money whatsoever if you were 100% short as of yesterday?
Thats assuming they had a short bias the whole year.. which is foolish. I have a heavy short bias right now. Waggie you are so naive in your thinking. And yes Waggie many consider me a professional trader. I am profitable and do this soley as my living. Waggie I am not a one trick pony and simply short every rally all the time. I go long to. I just rather be selling the pops here than buying them. Waggie its people like u.. that piss out these trading axioms that actually mean shit when it comes down to making $. --MIKE
Waggie you are really dumb. I was not 100% short into the close.. actually about %30 short as of the close. As I stated before I scale out into the drops. In the open I went 80% short.. right now I am at %40 short. Thats how i made $.. its called scale trading. When I annoucned that I was 100% market was rallying.. look at a chart IWM tanked 1 point yesterdays near the end of the day.. thats when I bagged profits.
Excuse me? You are calling me out as the DUMB one?? What is it about your statement yesterday about being 100% short that you don't understand? Quote from Trend Fader, yesterday on the 18th: "I am fully 100% short IWM at these levels. I think the market will slice 50ma here." And now you are telling us that you went 80% short off today's opening . . . Yeah right buddy, anything you say!
Why would you even cover during this morning's "pullback" off the opening if in fact you think that the IWM will as you said earlier: "I am fully 100% short IWM at these levels. I think the market will slice 50ma here." I don't know what your charting application says, but the last time I checked the 50 Day MA on the IWM was passing thru 113.65 So much for staying short and looking for the index to slice thru the 50 Day MA! Face it. You have no methodology to your trading. As Mecro remarked earlier, you are just asking to be FLAMED.
Waggie u are just twisting everything I say... i will just ignore you. But for the honest people reading this forum I will explain again what I do. I have a short bias which means that I will always have money short until bias changes. As market goes up I fade the rally.. as it goes down I cover portion of position. For example.. Assuming IWM is at 119 and I am 1000 shares short.. and it drops to 118.. I will cover 400 shares at 118. Then Iwm goes up to 118.5 I will short again 600 shares. Then it goes back down to 117.5.. I will cover 500 shares. I keep on scaling in and out of the trader locking in profits whenever I can yet I maintain a short bias on the market. If u cant understand this then u are not a pro trader. If anyone wants more info just PM me I will explain again. At the time when I said I am 100% short.. I meant what I said. But then the IWM tanked 1 point and I covered over half of my short. Then we gapped up today.. so I went short again and covered into the drop. Now I am looking for another leg up to short again into. Thats called scale trading and maintaing a short bias. You can twist it any way u want to support your own agenda.. but this is how professionals trade. Its a way to keep on locking in profits as the market chops and churns yet still maintaiing your bias on the market. Now assuming I had a long bias for the major portion of 2003 and used this method of trading.. I would of made good $. My point is that I was bullish for most of 2003.. but 2004 is a different year.. and past results are not indicative of future returns. --MIKE
How convenient. Thank you so much for explaining everything to me! Now I understand your methodology. It's all making perfect sense to me . . . Strange. Especially strange that you would be 100% short yesterday, cover half on the close, and then be able to go 80% short off the opening today ( your statement on page 8 of this thread ). So who's lying now, buddy?