Discussion in 'Politics' started by Trend Fader, Feb 18, 2004.
I have no problem with traders that trade with the trend, or against the trend. But to come on ET and tell people that they essentially have no methodology whatsoever for putting on a trade, is of no value to anyone. James Stock did it time and time again, and many of us ( not just me ) that are members of ET are tired of this BS.
As you might recall, Trend Fader said that he didn't use "cute little charts" nor did he analyze patterns. The only thing that he shared with us regarding his "methodology" was that he was looking for the 50 Day MA to be broken, all the way down at 113.65 which would be almost a 5% move from current levels.
If in fact Trend Fader was looking for a 5% move to the downside from here, then why couldn't Trend Fader share with the members of ET what in fact changed this morning and made him not so Bearish anymore so as to cover a majority of his shorts an hour or so into today's session?
Care to tell us why he changed his bias?
I mean if you are looking for a 5% move down from right here then why would you cover a majority of your position after a small gap opening? If you are so bearish, would you not leave the position alone, for fear of not being able to put it back on again?
Either share your trading methodology with the members of ET so that others can find some value and gain better insight into trading, otherwise please refrain from making attention seeking posts that share nothing else but egotistical drivel.
And for what it's worth, I believe that I wasn't the only ET member that took exception to this thread.
So if you object so vehemently to James Stock etc. then why even reply to them? Why not ignore them?
As far as using or not using charts ... I don't use them either anymore. I used them for quite a few years. I spent hours and hours nightly looking at charts to trade the next day. Now I trade stocks that had major moves up/down the prior day. I'm not always right but no stock moves up in a nice linear fashion day in and day out. Charts are certainly not a necessity to trading the markets. Psychology is a heck of a lot more important IMO. Now .. can you comprehend my trading methodology? Sorry, it's not me who has the habit of "making attention seeking posts that share nothing else but egotistical drivel". Go read your posts and see what "egotistical drivel" is all about. Your apparent need to attack everyone who posts contrary to your beliefs says a LOT psychologically about you and who you are. Sorry but I gotta go trade ... I don't post all day like some people.
Tell you what?
Since you are so full of factual information regarding what I post, and whether or not it attacks anyone, feel free to back up your opinion by showing everyone here on ET where I have attacked anyone besides the "Top-Picking" moron Romeo/James Crock/Chapa Braca and all of his "other" aliases in the Trading Forum.
You fail to realize that James Crock said that selling naked calls was the best way to trade a top because it was a "low risk and high reward" trade. Makes a lot of sense, eh? Even ET members such as "Vehn, Specul8r, Riskarb, Pspr, Hello Dollars, Igor, Volume, Saschabr, Error-404, etc" attacked this moron for making such a ridiculous post.
I guess it is ok to tell everyone on ET to drive past an Elementary School cross-walk at 120 miles per hour at 3PM in the afternoon, too!
I am 100% short again.. tape is super weak.
And the shorts also have a defined stop: the previous high. What's the difference? People have been taking the risk to buy dips this entire past year, yet there's always the chance the market will break right past your initial buy point -- then where do you set your stop? The mirror image in shorting a new high contains the same risk.
Obviously I agree.
Not so say that I dont buy the dips when my bias changes to long. But regardless what others say I am continuing to short every rally and doing a scale cover into the dips.. and still maintain short.
For example into this down spike i just covered 25% of my short under 117. So now I am 75% short. Instead of just waiting for the market drop to the 50ma.. which i am betting overall in the coming days it will.. I realize that it wont drop in a straight line so I trade around it and lock in gains.
Yes, I agree that the shorts can also have a well-defined stop-loss at the previous highs, yet some people on this thread as well as ET for that matter have initiated shorts into new high territory, when the market has been making new highs day after day after day . . . and thus have no defined point for entering a stop-loss.
Only when a market has established a trading range at several tops can one prudently use a stop-loss to their advantage. Anyone that is simply shorting into new high territory is in my opinion, trying to pick a top and just pissing into the wind.
I cant believe some here makes these bold statements like anyone shorting into new highs is pissing in the winds. 100% Nonesense. Today the smart money was shorting or selling into the highs on ES.
Sometimes its time to buy the new high and sometimes its time to short them. Right now its time to short them. Just because we are in a technical uptrend on the daily chart its not pissing in the wind.
Some naive trend followers might disagree but its all about making $.. and since I started this thread thats all I have been trying to do.
Tell me how many times you made money over the past 12 weeks, shorting into new highs?
Separate names with a comma.