There really aren't any stones required-- now if, you had 50% of your porfolio at risk, then that would take stones. Capital and the management thereof is the only true edge in trading.
Well sure, taken out of context it may only be a well worn mindless market shibboleth. But fighting the trends is a train wreck waiting to happen more often than not.
I really like what Buy1Sell2 had to say, but Stardust I got agree with your comment as well. So it goes back to what I was saying, you need knoweledge to implement a strategy like this, and either enough exprience with it or belief in your system's positive expectancy to have to the stones to implement it. Hang in there Surf, it's looking very good for you (you see the "flat top" over the past couple of days? - including this one, you see a MACD that you could buy for $5 showing divergence?) Best, Jimmy
Thanks surfer ! caught about 10 cents on the ECA scalp call. don't allow tat proflogic or the others bother you keep it going ! Bun
The only "knowledge" you need when implementing bad timing and then "averaging" is the knowledge to risk precious little so that the outcome does not destroy you. Also, you probably want to ensure that the stones you are referring to are not in your head.
This is very true. My point was simply that it is very effective when used properly. Overextension kills any program. The reason that trend fighting kills is because the poor small spec who tries it is usually way undercapitalized. However, it is how many professionals make their money.
Hello surf, Haven't commented on your trading lately but here is some thoughts, Personally I think we are topping as well, but I would not short until it really falls off for the 2nd time. I've been selling into profits or wanting to for the past few days because I know it can't be sustained, but I'm also putting on long positions when it looks good. I think the problem is that when you sell too early, you have to go through a lot of pain just to be early, Personally I don't like going through pain, I 'd rather play a game with michael jordan when he's 90 years old ready to die then play him at his prime just to see bigger profits if I do beat him. You aren't trading enough size to warrant going in so early as well. Always remember.. The second mouse gets the cheese Good luck