Jeez Lavish you must have done something to really piss him off... For the record I know from experience that playing counter-trend set-ups can be a very profitable endeavor... As long as the odds are stacked in your favor and the risk is manageable than go for it... As for the whole "predicting" a bottom thing it is foolish... Traders have been "predicting" the bottom since that hellish day in April 2000 when the NAZ went down and then all the way back up 700pts in a day... They have been wrong 100% of the time... This is not a game of right & wrong and it is definitely not a game of predictions... You want to make "predictions" become a fortune teller in a circus... This is a game of odds and risk management... If you want to get on a message board and make "predictions" so that you can beat on your chest or "feel" yourself later on than you are in the wrong game... ____________________________________________________ Agreed. I think I began to realise that sometime during the first year while I was still paper trading. The idea is constantly reinforced in this venue and I am thankful for that. I've seen lots of bottoms and tops and left lots of money on the table by buying or selling too quick. I haven't figured out how to correct that problem so I satisfy myself by saying I don't have to take ALL of it. I take this seriously and maybe too seriously sometimes and never think of it as a "game." However, when I evaluate a trade (don't beat me for this)... but the result enables me to make a "prediction." Maybe that's not the term I should use but it equates to the end result of what direction I think the trade will take. Anyway, I was just defending Lundy in his presentation of his charts. I don't see a need to call him/her names or bash anyone for sharing his/her chart analysis. I think we should all feel free to share our thoughts and assumptions and pick each others' brain for insight without being attacked for it. Your point is taken and I will think of a different term to use in lieu of prediction. I did not mean to offend anyone. There is so much peripheral influence on the market that eventhough we do the best we can to make the right choices....it can still get all screwed up and force us to re-examine our position. I always look for your input on this board. Peace and Prosperous Trading to you.
Lavish, Well I put the "-" around predict for a reason, probably just a problem with semantics What I was trying to get across was that you do not need to know what a market is going to do next in order to profit from it... You don't need to predict up or down in the same fassion as you would predict the winner of the world-cup... Just take your set-ups as they come... As for taking the game too seriously... I too did this for long time and while this is business and should be treated as such, it is not exactly life or death duel either It really is just a game... Try seeing her with softer eyes you might like the new view... Anyway PEACE and good trading Lavish Commisso BTW; nice to see some females around here, there is an awful lot of testosterone flyinf around sometimes...
i remember for a while one of the popular patterns was the jennifer lopez- in honor of the fully curved symmetry (apologies lavish- takes a strong chick to brave this house of testosterone) ____________________________________________________ Thanks Darkhorse, no apology is needed. Name calling and bashing offends me but this doesn't. Not in the least. I actually enjoy the abundant display of testosterone and the creative criticisms as well.
Posts: 612 07-03-02 05:28 AM Re: Original Post by Commisso Lavish, Well I put the "-" around predict for a reason, probably just a problem with semantics What I was trying to get across was that you do not need to know what a market is going to do next in order to profit from it... You don't need to predict up or down in the same fassion as you would predict the winner of the world-cup... Just take your set-ups as they come... ____________________________________________________ Thanks Commisso, I've always believed this...then recently, I got this idea that perhaps the knowledge of what the markets will potentially do next, may benefit my trading. For instance, presume I bought sears last week and it took a 12-15 percent dump over the next few days. If I can identify that the market as a whole has taken a dump and identify the probable source of the decline--am I not in a better position to determine if I should move my stop? Or, am I worse off by trying to figure it all out? Peace and Prosperity to you Commisso. Lavish