i've doubled down witha stop when both nq and ndx take out lod. I don't necessarily think i'm always perfect, but i do think i'm always right. So I maintain my position knowing that I may be a little off... but i wont exit until i'm PROVEN wrong. If we break the low on ndx and nq, i'll take my loss, tuck tail, and run.
its only that doubling down that I have a problem with, but I've said that before so I won't go there anymore. As far as a bottom, well, I think it is seeking a bottom and it could reverse at any time. Definitely not a time to be going short, good time to be flat with cash ready to go.
Lundy, I will definitely give you credit for taking a stand and making a public statement. That is a lot more than many are willing to do. Hope things work for you!
I dont mind stating my opinion and my position publicly because publicly losing face doesn't even compare to losing real money. If i got what it takes to buy here, I definitely got what it takes to say so publicly. I'm not embarrassed of my positions. Nor am i embarrassed if one goes against me. The only thing a trader should be embarrassed of, is not doing what he thinks is right. dotslash, i'm doubling down, but with a stop.
>>> Lundy wrote : what has to occur on Monday to negate my prediction? a lower low on the NDX. <<< Absolute rubbish, and compared with that previous message makes it full of contradictions ....
Lundy wrote : >>> If you want to wait for confirmation go ahead. But as a pivot trader, I catch knives for a living and I know when it gets tossed up whether i will be able to catch it. And by golly i'm 100% sure i caught it this week, this day. <<< If anything other than that "100% sure" was said, I would have still kept some respect for the guy ... but 100% sure = 100% brainless as far as I'm concerned ... And I hereby, stand up in respect for all those who objected that rubbish, did their homework properly, said the market is still going down, PUBLICLY AND OUT LOUD, and are still waiting for the proper swing signal to go long this market, whether that be today, tomorrow or after tomorrow, or in a 100 years time ... yet they rest assured that when the moment comes, they WILL NEVER BE 100% sure, because they know ... they can't manipulate markets .... And if the market proves them wrong, they'd say it OUT LOUD ... "WE WERE WRONG" .... "WE SCREWED UP" .. it's time to get out of the market ... clear our brains ... and get ready for yet another trade ...
as I said before, the september 11th terrorist attacks created a time gap in my charts.... therefore, my count could have been off by 4 days (the missing 4 days in the chart). the possible days were 19,20,21,24. I didn't think it would also be off on the weekly chart, but now i see that i was wrong. It makes sense now, because the week of September 11th, the market was only open 1 day. This would give me a fib count of my target week + 1 day. Sure, my prediction was wrong but who really cares? All I care about is if it's close enough to give a valid risk/reward.
I'm sorry if this thread has turned into a me vs them. I only started it to state my position on the market. But it seems some people have gone out of their way to prove some point to me/u, and have turned it into a nasty argument. Rather than argue and post my opinion about the other guys , I will just continue to post as I have- My opinion on the market, and my position in it. I still beleive that the market has turned bullish, I just hit it on the wrong day. I had 4 days to chose from, and I chose the 3rd day because of other factors. Today is the 4th day. If we don't bottom today, I am wrong. Not because I lose face to a few bullies here, but because I lose money. If I make money going long, then thats all that matters.