24th Feb the post above. The quote above on 7th March. Surf had such confidence, thought this would be a walk in the park. Money for jam. This would rate as some of the stupidest journals ever for a 'veteran trader'. So instead of this 1000 point guaranteed plunge, we have about 130 points added to the bull 14 trading days later. I'm kind of gob smacked by the dumbness, lost for words... There would be several or more different trades one could take at this time, but shorting when Surf did....??? I have a sneaky feeling Surf was advised to take this gungho trade by one of his miillionaire Hedge fund mates, either that or the Price Diving system is an invention from someone other than Surf, I've seen this system in action before with its disastrous results, something weird that you would continue with it. Anyhow buy the book, you too can become a loser.
Some would look at things a bit differently, but as you say, everyone to their own. Are any of these trades real trades, as I have only seen "market calls" which some would consider to mean absolutely nothing.
Could be. This is his idol and mentor: http://www.newyorker.com/magazine/2007/10/15/the-blow-up-artist Sure, Vic N is a smart guy and still wealthy. Doesn't mean he's a great trader, I guess. Not sure how his investors did, hopefully he made them whole...
Why is the setup different? Or did you enter the ES short because you had the short signal in NQ with the drop below the moving average?
I know, I was merely pointing out the different ways people trade... but I must say there's not that much thought behind it IMO. Maybe in the initial setup, but if you go for large moves you take large hits... You either commit, or you never make any money because you start to over-trade and cut losses or take the break-even too soon and too often.
It is all relative. The fact is, the longer you leave your money in the market, the more money you can make or lose. If you make some money, and then exit, you have locked in profit. A profit is no good until it is locked in, as it can very quickly turn into a loss, and sometimes a very big loss. Go ask the many "traders" who though they knew how to trade during the dot com era. The clever traders lock in profits the whole time, and only give back a very small amount of what they lock in. Not too many around at the moment.
I do not mean to be rude, but what exactly are you doing? This thread is confusing me somewhat. Is it your journal or Mr Surf? What has working on a house got to do with trading the ES? Some very strange things happening around here?