i talked to quite a few traders and most say they are getting killed. now,one would suggest that a volitile market is great for trading. not so in the real world. most guys hold losing trades overnight or with the hopes of that famous 3:00 turn around. true,a great trader can take small losses but 95% of traders don't stick by that rule and let losers ride. thats why 95% of traders fail. just rambling but i speak the truth.
if you cant make money in this market you had better look at your game plan. its a great trading market.
Yup. You are speaking the truth. Most simply don't want to admit it. There were some opportunities such as going long LCC and UAUA when oil peaked. Obviously, the financials and mortgage stocks have been great shorts and the AGs have offered a steady ride upward. In short, there are always opportunities, but all these are fairly specific, longer term cases and hard to take advantage of. It certainly isn't business as usual. Especially in markets such as forex, where leverage is necessary, even institutional traders are getting killed. The market is very choppy. I do not buy into volatility allowing traders to make more money. Positioning becomes trickier and the longer term outlook becomes blurrier.
Can't agree more! Don't know who these guys getting killed are but I know a ton that are cleaning up right now, the moves are great. Will say though, when you get a loser they sometimes get out of hand quick also, things are moving. But if you are losing in volatility like this time to change it up.
I am literally printing money in this market on ER2. I am blowing it out in more ways than one p ) before I bid farewell to my good old friend, ER2.
had one of my best weeks of the yr 2 weeks ago but I do see wild swings in my P+L it is surely not a place for "newbies" and even caution should be adviced for those exp. pros not to get to 'humpty dumpty'