Exactly. There's no way disciplined and systematic long term investment in fundamentally good company stock could work these days, since WB's methods have been made publically available. Which effectively means, start shorting "good" companies NOW. IT will work as long as you don't latch on to a publically available contrarian method. Don't post your charts.
Hey, anybody know the significance of April 1st? p.s. In my trend following today I was following a trend on the NQ (long side) and was wrong. The result, I made a one tick profit.
Start shorting companies that publicly available techniques have overvalued. Big money was made like that when the bubble ended in 2000.
Man: One Hundred and Seventy-Eight Pages of Pure, Unadulterated Crap, is apparently what is takes before we see one shred of wisdom from you!!!!! Yes, (and it is just a shred) If we are at a turning point in the market. Duh. Then it makes sense to short any number of overvalued issues, just as it did during the Dot.com bubble. Now the real question is which are those companies? and of course Nickelscraper cannot offer us any help there, because he has no clue. So where to begin? Well one way is to start with overvalued sectors, and drill down looking for P/E that is high compared to peers. There I think I have done my good deed for the day. Oh my god, here comes a gigaflop!!!! See you folks Lefty, the Fund Destroyer......
I am not sure what that means efficient with respect to publically available techniques. Has that been discussed on this thread. Does that mean that I should not have been able to made a lot of money in the markets day trading form 97-2002 with widely available techniques?
Efficient with respect to publicly available techniques means that, like 19 out of 20 of your fellow daydreamers, when the end of the free ride came, you would have gone down with the ship.
may i qoute william gallacher from "winner take all" "the desire to draw lines and triangles on bar charts may stem from a deeply rooted unwillingless in the human psyche to accept the existence of a cruel and dispassionate universe. the chart is a kinder and gentler creature when its intractable squiggles are neatly bound into nice orderly channels and wedges... children enjoy connecting the dots...... i'm sorry, (commodity) trading is strictly for adults, and if we want to make any sense of it, we need to put away childish things....... chart readers might also ponder the philosophical implications of forecasting by lookign backwards. the notion that prices evolve in predictive patterns is consistent with deterministic view of the universe. frankly, i doubt prices are pre ordained. it is possible, i suppose, and what a joke that would be on all of us! " enjoy the weekend trendies and trendatheists alike !
great job catchin 10 points there...thats a BIG accomplishment. I missed this trend day...ended up minus 1 ES point on the day....and I was short at 1182.....but a poor entry led to my stop being hit before i caught the move. But on the other trend day..I managed to do well. It is upsetting casue I'd like to think days like today....a nice trend...are the ones i'll get a hold of...this just means I gotta work on my entries i guess!
Hello John: At least you got one of the trend days. I understand completely when a trader says he missed an entry or got shaken out. The real challenge for a trader is to pick the right stop loss, and to keep your hands off the mouse. I used to get shaken out all the time, till finally I found a way to keep myself on the right side. It is still a real challenge to see price retrace and have to talk myself out of taking profits. As far as I am concerned, once a trader has his technique down, the big challenges are 1. Choosing a decent stop loss. 2. Knowing when to put on size. 3. Keeping from taking profits too soon. If these are problems for you too, let me know (PM me), maybe I can help you out. Lefty.