today has not been good for breakout traders

Discussion in 'Trading' started by dumbgai, Oct 8, 2008.

  1. dumbgai


    too many headfakes, wont be surprised if we close around 0
  2. Buy now and do nothing for 12 months. The huge 100 point spike 2 hours ago was funds loading up. They aren't going to let this rally fail.
  3. any trader that pigeon holes themselves as a "breakout" or "range" only trader get what they deserve when the market isn't to their liking.

    Maybe these breakout traders should learn to read the market better.

  4. breakout trading is actually a very bad strategy, think about it ,

    are you the only person seeing this breakout? or hundreds of other idiots watching the markets with you?

    think really hard.
    then you'll realize why you are unprofitable.
  5. dumbgai


    hey im not saying im a breakout trader.

    im just saying today looks more liek a range day than a trend day.. i hope im wrong because i do have some long positions.