I guess you simply can't produce and back up your statements. Keep the noobs believing, just don't spread the nonsense here. It's not welcome. The surf report is not a place for phony statements, false humility, and regurgitated trading book wisdom. The generic guru garbage is boring However, if you wish to post before the fact market calls, without ambiguity, your more than welcome to use this thread as a platform OR provide actual information rather than subtle self ego strokes. Surf
The whole key to one's strategy is to have some sort of system/style/approach that puts you in highly favorable trades risk reward wise. A good strategy WILL generate signals that are not random, but give you the edge risk/reward. Surf seems to think everyone else out there is just throwing random trades out, and the only person who isn't, is himself. Well.....he flip flops so many times with his trades, one can't think other than that he is just randomly throwing trades out there. I don't keep stats on him, but someone pointed out that after this trade his journal will be basically flat to down since the start. To me that tells me he really doesn't have any kind of profitable approach and his entries are kind of random. While I try not to knock anyone's reasoning for getting long/short.....he seems to be riding this bad short on some stat from In Trade about the probability of the debt ceiling not being raised. The Debt ceiling news has been out for a while, and perhaps fundamentally it's bad. But the market has fought off this bad news day after day. What would somebody suspect if they do raise the ceiling. Big rally. Well......it looks like the debt ceiling is gonna go through, and here's the rally.
It's fall 2012 I can't give much info right now--- however think winner take all combined with James Randi's flim flam. It's gonna blow the lid off lots of stuff.
By the way, I agree 10000000% with your "look behind the curtain" statement. but unfortunately the market seems to overlook these things....a lot. That's the problem at times with fundamental trading.
I have been telling friends and family who ask me "what do you think about the stock market", to stay the hell out. There is so much bad news out there that at some point has to be addressed. But...as a trader who follows price action, I won't let my "opinion" get int he way of taking long trades. Over the years I have gotten clobbered trading off of what "I think" was going to happen based on things other than price action. Took me long enough...but I finally stopped doing it. The saying "The market can stay irrational a lot longer than you can stay solvent" is 10000% true.
Kudos to Prado but get out of longs now! I think it's finally exhausted and turning back down. Markets go down faster than they go up. Surf
Great, great call by EPrado. This is exactly what has happened. The S&P has risen 40 handles. Wihout EPrado's wisdom, this journal is really all "cheap salesman talk". But then there would be no surf report.