Shan! Welcome back. I thought maybe you were backpacking around Europe or something. BTW, we are having a meeting on Monday night. I hope you can make it.
Hahah I wish... Or maybe somewhere down south enjoying some sunshine . Forsure I will try to make it, thanks!
Idk...I think it depends on what you are trying to accomplish. Some of the best traders I know do mean reversion based trading and routinely scale in to positions. If you mean Average in for the sake of trying to bail out of a bad trade than your prob right. If you have a plan that involves multiple legs into a position and you can manage your risk...i think you can do well.
There goes Crude. Confirmed A down. We saw this coming. Price action on Crude has been weak for days now.
Not nearly as much as I want. Tried to implement some stuff into tradestation and its a no go so far. Well see where it goes, nothing much to add right now. Hows everything on your end? I know you had a lot of projects coming up with the CTA, greybox etc...
BMY continuing to show real strength. A up today, and good price action yesterday. XLV names continuing to outperform in equities. I have 33.54 as the monthly A. It just made an attempt and backed away.
My apologies if that was offensive as that was not my intent. I often revert to firehouse humor in the wrong environment. Allow me to clarify. My point was that I don't predict. When I try to, I usually lose. I have much more faith in my ability to react without a predetermined bias. If my gut tells me higher, but the market shows me lower, I admit the market is right and go with it. I don't chase, I don't average down and am willing take small losses on properly placed trades knowing that one or two winners will take care of it. I'm not a fulltime trader. I don't make ridiculous amounts of money from trading. This is what works for me and puts a decent bit of extra "walking around" money in my pocket.