...do you guys who blindly buy on margin without any risk management also drive without a steering wheel ? Ah, i think it's actually without brakes that they are driving! Was it Enzo Ferrari that said when his cars were criticized for having poor brakes: "Brakes!, Who needs brakes?"
So once again, mymini has dismissed his own rules. Yesterday he was taking this trade (with no stop) to "prove" the DOW will get to 13000. Now1 day into it, the position is closed and he's in "hope mode" for Monday. Mymini is a fraud of a trader. (But he sometimes posts interesting charts)
This has normally been true in the last 6 months, but lately after the SPX makes a new high, we have been retracing back to the 20dma/40dma support area. This means if you keep buying into the new highs, you might be holding awhile waiting for a recovery from the retracement. This is OK if one is using index tracking stocks, but futures and options can experience a severe drawdown during these retracements.
Gotta love these Forums! First two threads: 1) No Stop Futures trading; 2) Zero Risk in the S&Ps. Right! :eek: From a sentiment standpoint basis these two threads the time has come.......... SELL ALL STOCKS, FUTURES, FUNDS,ETC. Move to Cash or Sell Short the market............. STRAIGHT DOWN is the call. Check back in about 6 months time....
LOL 2 FUNNY...... dude.... check the date bro!! " 06-11-03 04:59 PM" http://www.elitetrader.com/vb/showthread.php?s=&postid=269982&highlight=free#post269982 "stop crying and start buying!! we are never ever ever going down!! yeah baby $$$$ buy buy buy, until re-election process complete and Greenie sippin' tea on his yacht PPT, Bushy, and Greenie don't care about EWT, Techincals, Fundamentals, blah blah blah.... Simple market method for making $$$ When Trin closes over 2.0, or market has 2 down days in a row or Tick under 1000, buy with both hands, and press collect free dough button!! Who's your daddy??? Rule$$$$" http://www.elitetrader.com/vb/showthread.php?s=&threadid=47055 time has come????lol hardly
Dude, you were three months late in `03... I was in long late March. Looks like you will be late again! lol STRAIGHT DOWN
Wow.....you believe so stongly in your system...that you're willing to place a whole one lot on that trade. I wish I had your cajones.
But these new inexperienced, tiny traders are never aware of the real risks, i just feel obligated to wise them up when i read things with no sense. Conviction of ignorance is the doorstep to the temple of wisdom is it not?