My New Year's resolution: I'm no longer going to respond with trading related info to Surf's comments as it's the same as talking to a swinging in the breeze barn door. All the best for 2013
Surf, You are a good sport. People come on and give you all kinds of shit.. yet you stay pretty levelheaded. Happy New Year.
i don't look at current price when deciding on directional bias-- no one can time the market consistently-- therefore position sizing is the key to weather the mistakes--- actually, position sizing combined with wise martingale within the sizing parameters makes the most sense--- I did not do this, my error, but regardless, the trade is profitable currently. surf
So your combine effort was, in effect, an exercise in random entry. It is too bad that the experiment could not have continued for a whole month. Were you using a defined stop loss/profit target combination, or were exits as random as the entries? I agree, and Surf, I hope you receive my questions in the friendly spirit in which I meanT to deliver them. I do not agree. Why would someone would participate in this activity at all if one did not believe that it were possibleto take a position that would eventually payoff due to a move that caused the value of the position to increase?
1. No, it was an experiment in getting fodder for an article and showing support for a cool concept and great sponsors of elite. I am not a daytrader. 2. Yes, I appreciate any feedback 3. I should have said, no can time the market exactly, not not at all. poor choice of words on my part. surf
Oh yeahhh, Price Drivers paying off-- we are up about 300 points here--- on the way to our target of 1000 plus YM points on the trade. There is tremendous upside pressure on stocks-- I am surprised everyone does not see this --- Price Drivers picked it up early but my bad trading entered the trade too early----but conviction kept us in the position. surf holding here
Clearly that was the primary Price Driver this time, in addition to the billions waiting on the sidelines that will slowly be poured into the stock market. This is a no brainer here. surf