Oh, I have a thick skin. Any trader does. But what I wish is that the information to garbage ratio was higher than 10:1, like it used to be. TNG
Hmm, so you think defending a guy like Stock Trader is actually bolstering the quality of information here at ET? The guy is a permabull and rarely does he say anything other than just buy something and hold, no matter what (cause everything is a dip). There is no way a real trader would ever consider anything he posts as quality. Its just more garbage. What you should be doing is either join in or dont respond to stuff like this at all. But defending the guy just seems silly, he's truly just a garbage poster.
Thank you for telling me what to do, Cocaine. It's unfortunate that I'm not a "real trader", I suppose. By the way, wtf is a "real trader"?? I wasn't defending him, I was stating that I think his posts are far less of a problem than the people who are in never ending personal battles all over this f'n site in every g'damn thread that has absolutely nothing to do with them. Sort of like this one has turned into. Furthermore, the complaints surrounding him seem to be pointing to the fact that he's "just a garbage poster" but when (for the first time I've ever seen) he tries to post some actual commentary the f'n gallery here starts calling him stupid. So, in the end, I guess they want him to leave, and that's what I have a problem with. I feel (and yes, i'm a selfish bastard) that anyone who has a serious interest in trading or investing should be able to participate in a discussion here. Maybe if they're misguided more experienced (or hey, the "real traders"!) could help them out and then we'd all learn. TNG
These end of day and mid day dumps and selloffs are the result of inflation jitters. the fed should just raise the rates by a quarter point and get it done with. Maybe even .5 points for safe measure. The market will tank, but it will then rebound and make new highs because the inflation problem will be fixed.
Perhaps you should understand that a lot of what people criticize him for is the fact that he is NOT a trader (this site is called EliteTrader mind you) but a permabull investor whose only advice thus far is to just buy and hold, dont mind the fact that your position is in the red 10%, it WILL come back. I mean, what kind of moronic advice is that? And yes, he has had stretches where he's posted his positons and they were really dumb, not a single shread of risk management, just pure hope and blind bullishness. Thats not trading, thats gambling. You want to invest, thats all fine and good but dont post 10 threads about every up day or uptick in the mkt, its just completely unneccessary. This is why people give him a hard time, he brings it on himself. Its not like people talk smack to every poster for no reason, hell, this guy DESERVES every bit of it for being such an annoying ET charater. Sure, I could use the ignore button, but yes it is fun to read his idiotic posts and rationale and , Im not gonna lie, I do enjoy hearing people rip him a new one (especially SiSe!)
Although I am annoying I would like someone to point out where I have been blatantly wrong about the market or made a bad stock recommendation. We have an idiot for a fed chief. Someone who keep complaining about an inflation problem but won't fix it. Fix the ******* inflation by raising the ******* rates.
The thing you dont realize about yourself is that you are so damn close to total implosion, anyone who takes the mindset you do is. That is, being totally blinded by either the bull or bear side. Sure, history is on your side, no question about it. BUT, you're the guy who loses everything and then some when something like March 2000 rolls around. Oh that could never happen to you I know you'll say but you've proven time and time again with your posts that risk management isnt part of your game. I've seen many people like you over the 6+ years of trading completely disregard the need to be flexible, and sure enough they paid the price. Knew one guy who blew out over 200K on one trade, avging down into a negative news story b/c he thought the company was so great and the news to be just a rumor. Buying 5K clips all the way down for 25+ pts. All it takes is something like that, your blindedness to the reality, to wipe you completely out. The problem is, you wont believe me until you are flat broke and owing money. Thats how it always goes. People ALWAYS need to learn the lessons themselves.
But the method works though. All my picks are up, and have beaten the market. When you invest in quality companies like aapl or goog you don't need to apply the same risk management than if you buy a speculative microcap or options. True, if there were a 2000 type sell off I will lose a lot of money, but I don't see that happening. The biggest selloff that could feasibly happen is 15% on a rate hike, but that wouldn't wipe me out. The 2000 the market was greatly overextended- much more than it is now. Times have changed so much. I am aware of the 7% canslim sell rule as a method of risk management but using such a rigid system will cause you to sell when a stock is basing before another big run. And this is a trading forum but traders can learn from investors and vice versa.
How much do you know about his style of investing? How much does SiSe? I find it strange that so many people call him a moron for yelling "buy buy buy" in biggest bull market we've had for 7 years. While I agree that the way he goes about it can be annoying, the message is pretty clear to me. Anyone following his advice would have made money. I'm not familiar with anything you have contributed, but today I will have a look. What I would like to see, is people asking for his reasons behind it and debating it like adults instead of picking on him because he's an easy target. The funny part is, it sounds like he's making money, maybe not stellar money, but he seems awefully happy with it. What's wrong with that? Why does everyone on this site hate anyone else who's making money? Makes you wonder. TNG PS have a look at the chart I've attached. Who's a moron, someone who's been yelling "buy buy buy" during that time, or the people who call him a moron for doing that?