Don makes a point that might be misconstrued given his relative disregard for charts and such. "You'll not see too many active traders... picking longer term direction..." I believe this statement is true - regarding "active traders." The term "active traders" is used more or less to describe daytraders of any time frame, and probably the 1-3 day swing traders as well. Many of the brokerages market themselves as being for the "active trader", ie., Cybertrader, IB, etc. But the qualifier of Don's statement is "active traders". I carry positions 2-8 weeks on average. I do not consider myself an active trader, by today's standards. Market direction is important to me. I want to trade with the longer trend. I want a bigger piece of the pie per trade. Just my thoughts...!
You know, hitting bottom in this market is similar to the way some people quit smoking: they do it every day
SHOOOT ! And this one was started in June ... hmmm ... that was three months ago ... I guess it should be attached to the "Learning from our mistakes thread" ... being never bottom fish !
Seriously Lundy, today is the real bottom, right? No, I really mean it. If I call it everyday, and just keep my forecast vague, eventually I will be right. Sounds like a plan to me.